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Hello and thank you for your question. I will be very pleased to assist you. I'm a practicing lawyer in England with over 10 years experience.
Are you concerned about inheritance tax or care fees or something else please?
Thanks. May I clarify which things you are concerned about? I have mentioned a few things above?
Inheritance tax ,care home fees
many thanks. Between you and your wife, you have £650,000 as a tax-free allowance before inheritance tax is payable. As a result of the change of law several years ago, you and your wife can effectively share your respective £325,000 allowances between you making an overall allowance of £650,000 and therefore the figures you present, I cannot see this inheritance tax will be of concern to you
Many thanks for your help, Mike Hutt
In respect of care fees there are a number of potential approaches you can consider however in your circumstances one of the most simple ways is to consider life interest wills as follows...
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