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IHT Mistake??
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Jonson1
Posts: 11 Forumite
in Cutting tax
hi, could you please help me with this:
My husband's mother died 25 years, leaving her estate to his father, which was a few hundred pounds and at that time the house was never in her name, but she was the beneficiary if the father died first. The father has now died, and the person doing the probate has calculated it like this 325,000 x 2 plus 1 x £175,000 is this correct or should there be a second £175,000 in the equation? many thanks
My husband's mother died 25 years, leaving her estate to his father, which was a few hundred pounds and at that time the house was never in her name, but she was the beneficiary if the father died first. The father has now died, and the person doing the probate has calculated it like this 325,000 x 2 plus 1 x £175,000 is this correct or should there be a second £175,000 in the equation? many thanks
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The transferable RNRB is available regardless of when the first spouse died or whether they owned a home or not but it will only it will only be needed if her estate is worth more than £825k.1
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