My wife and i have just changed our house tenancy from joint tenants to tenants in common

Gobsh

My wife and i have just changed our house tenancy from joint tenants to tenants in common, as part of our will to our one and only son, and now we are wondering whether this will affect our inheritance tax allowance??

Keep_pedalling

It should not do so unless your will is poorly drawn up. Presumable both wills create an immediate post death interest trust on the first death, which is the mist tax effective way of doing this.

poseidon1

Gobsh said:

My wife and i have just changed our house tenancy from joint tenants to tenants in common, as part of our will to our one and only son, and now we are wondering whether this will affect our inheritance tax allowance??

If you have severed the joint tenancy in preparation for Wills that create IPDI trusts, then as far as will drafting is concerned,  don't overlooked the guidance provided in the last thread you created on this subject below -

https://forums.moneysavingexpert.com/discussion/6593436/what-happens-to-a-property-trust-should-the-survivor-unilaterally-decide-to-downsize-to-diminish-his#latest