Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    • beckstar1975
    • By beckstar1975 17th May 17, 1:41 PM
    • 264Posts
    • 315Thanks
    So confused IHT - spouse and child
    • #1
    • 17th May 17, 1:41 PM
    So confused IHT - spouse and child 17th May 17 at 1:41 PM

    I am sorry if this sounds like a stupid question but I can't find the answer anywhere.

    My dad has died and left his estate jointly to his wife and I - the estate being a house that his wife and sister jointly own but they took out a deed of variation (I think it's called) about 10 years ago when he put a substantial amount of money into the house, that details the value at the time it was split and now it's value 15 years later.

    Will IHT be calculated on the basis of the entire estate or only that which has not passed onto his wife (ie is due to me)? And while he left me his share of the interest of the value of the house can this be realised (ie would they be forced out to realise the value), does it even stand legally as he wasn't on the deeds at Land Registry, or is it academic only until they voluntarily decide to sell?

    Wife wants us to apply for probate ourselves, I don't want to for reasons above, and chance of relationships breaking down irreperably.

    Help! Any thoughts gratefully received, including just pay for it
    LBM 11/05/2010 - WE DID IT - DMP of 62000 paid off in 7 yearsDFD April2017
Page 1
    • getmore4less
    • By getmore4less 17th May 17, 2:12 PM
    • 32,035 Posts
    • 19,223 Thanks
    • #2
    • 17th May 17, 2:12 PM
    • #2
    • 17th May 17, 2:12 PM
    What does the deed say that should document the situations for his share and beneficial interest at the time. if there was/is a mortgage that could complicate

    He does not have to be on the land registry deeds to have a beneficial interest in the property.

    Check carefully what the will and the deed say it may be quite straight forward to come to some agreement.

    Anything that transfers to the spouse will get the spouse exemption.

    you need to post more information from the deed and the will for people to add much more than say get professional advice, which you should do anyway if not confident in what needs doing even after people have given their opinions.
    • beckstar1975
    • By beckstar1975 17th May 17, 2:18 PM
    • 264 Posts
    • 315 Thanks
    • #3
    • 17th May 17, 2:18 PM
    • #3
    • 17th May 17, 2:18 PM
    Thanks - the deed mentions the value of the house as of the date of deed and that this value is split between the two sisters, and from that date forward the value of the house less this figure is to be split three ways. It's an annexe to the will too.

    That really helps, thank you, I thought that without being on the LR deeds it may mean nothing (there was a small mortgage she was named on that has ended) but if it does it may be worth paying for the legal advice.

    I think my union offer free legal advice so I'll speak to them, it may be it's worth executing ourselves but paying for advice as and when required.

    LBM 11/05/2010 - WE DID IT - DMP of 62000 paid off in 7 yearsDFD April2017
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

107Posts Today

1,642Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line?

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin