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Selling Mum's house and buying one together query

spark1971 · 2024-05-19 10:38:20

Hi, My Mum is 80 and has just come to live with us as she was struggling on her own and was 3 hours away. Me and hubby have both POAs. Our house is rented and the dining room is now her bedroom, ideally we need to get a slightly bigger house, 3 bedroom (2 kids at home) but with a larger downstairs and especially a bigger…

Comments

Bookworm105 Posts: 2,015 Forumite

20 May 2024 at 1:41PM

spark1971 said:

@Bookworm105 hubby is ok with it, my parents have been divorced for over 30 years, so he doesnt come into it.

Mum has her house approx 250k and some money in the bank 50k.

no need to answer first bit, it was a tongue in cheek comment (MIL's tongue)

IHT threshold is 325K so she is close but probably OK.
depending on what happened to father's money and his share of the marital home the IHT threshold may be a lot bigger, making IHT utterly irrelevant

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