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Clare
Clare, Solicitor
Category: Property Law
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Experience:  I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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What are the ways I can avoid inheritance tax? My father is

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What are the ways I can avoid inheritance tax? My father is dead and we live and care for my mother in her own home. I discovered that the registry still has my parents as joint owners. My mother would have to change the registry in her name. What if she include my name as joint owner. If she dies, would I still have to pay inheritance tax?
The Gov.uk site says "If you’re married or in a civil partnership and your estate is worth less than £325,000, you can transfer any unused threshold to your partner when you die. This means their threshold can be as much as £650,000."
What does that practically mean? Can it work with my mother and myself.
Can my mother sell her house to us below the market value e.g. £300,000 for £100,000 or even less?
Submitted: 6 months ago.
Category: Property Law
Expert:  Harris replied 6 months ago.

Hi, thank you for your question. What was the size of your father's estate and who inherited what assets?

Customer: replied 6 months ago.
What do you mean by the size of my falher's estate? I suppose my mum inherited the assets of the house
Customer: replied 6 months ago.
waiting for your response
Expert:  Harris replied 6 months ago.

Are you certain that your mother inherited all his estate?

Expert:  Clare replied 6 months ago.

Thank you for your question

My name is ***** ***** I shall do my best to help you.

In order to give a complete answer we need to know how much the house is worth and what other assets there are

It would also be useful to know how long ago your father died

Customer: replied 6 months ago.
I believe the house is worth £400,000 and there are no other assets. My father died ten years now.
Expert:  Clare replied 6 months ago.

Ho wold is your mother and is she in good health?

Customer: replied 6 months ago.
Mother is 87 and is in good health
Expert:  Clare replied 6 months ago.

Provided your mother inherited the entirety of your father's estate then her Executors can claim his unused IHT nil rate band and there will be no liability for Inheritance Tax

Please ask if you need further details

Clare, Solicitor
Category: Property Law
Satisfied Customers: 33494
Experience: I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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