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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34106
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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my husband and I have joint bank accounts and the marital home

Resolved Question:

my husband and I have joint bank accounts and the marital home is joint(no mortgage) our wills are the same all his assets to me and all my assets to him. He has a property bought as an investment during our marriage but was soley in his name. when he dies will this be taken as inherited by me, if so will I have to pay capital gains or inheritance tax?
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.

Thank you question.
My name is ***** ***** I will do my best to help you
The property would form part of the assets that you will inherit
Since you are his spouse there will be no Inheritance Tax to pay.
When you sell the property you may be liable to pay Capital Gains tax on any increase in the value of the property between the day you inherit and the day you sell it.
Please ask if you need further details
Clare
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