Married couple Property ownership & Inheritance tax ?

suethedriver

I am just sorting my elderly parents monies etc ( still both alive) 
They are married and the house is in my fathers sole name 
They have mirror wills .
I understand that property money etc will pass to the surviving spouse automatically as per will but on first death myself and brother are getting 100K each from that persons estate .
My father is asking if it would also be beneficial  to have the property put into joint names with his wife ( my mother) re IHT  nil rate band etc etc 
or doesn`t it make any difference . 
Just thinking of the 200k that will come out of one of their estate amounts ?
Any simplified advice would be good please .  

thegreenone

My FiL died at the end of 2022 and probate still hasn't been granted (with Will) and the house transferred to MiL's name.  Yes, put the property in joint names now.  I don't think it makes much difference to IHT but just makes paperwork a heck of lot easier.

Keep_pedalling

I deleted my original reply as my brain was not in gear at the time and got the wrong end of the stick.

I agree with the green one this will make things simpler if he dies first. It should not make any difference as far as IHT is concerned in most circumstances, but there is a potential disaster it could avoid if your parents die very close to each other and their will contain a survivorship clause. If you mother died just after your father his estate would not pass to her so could result in an IHT liability on his estate.