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Wills, probate, executors and the law - HELP PLEASE!


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Hello everyone, I hope you can help answer my question...

 

My dad passed away in October and in his will he has left everything to my mum. The house they owned (no mortgage) is valued at £500k and he left her £250k in cash. Will she have to pay any inheritance tax?

 

Thanks in advance :smile:

 

Hello there and welcome to CAG. There is no Inheritance Tax to pay if your parents were married, which it sounds as if they were. You should be able to find more information on the HMRC, directov or CAB websites.

 

My best, HB

Illegitimi non carborundum

 

 

 

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Hi and thanks for the swift reply!

 

Yes, I have been scouring the HMRC website since I posted my question and found this:

 

If you and your spouse or civil partner own your home as joint tenants, the surviving spouse or civil partner will automatically inherit the home and there will be no Inheritance Tax to pay on the property when the first partner dies.

 

So I've pretty much answered my own question! Thanks once again for your reply :)

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