Inheritance tax

[Returnofrros]

I think that would depend on the amounts involved. No Inheritance tax is payable between spouses/partner. If amount is big enough the transfer to children could have tax due. Transfers neighbourhood have a limit pa and I think

It used to be.....say me and Mrs sunshine own a house.

I die ( steady at the back 😆 ).....instead of my 50% of house going to Mrs sunshine it goes to my kids ( if I had any).....then council can't include home or force sale if Mrs sunshine goes into care.

Genuinely can't remember how that would be treated for inheritance tax liability.

[islaydarkblue]

It used to be.....say me and Mrs sunshine own a house.

I die ( steady at the back �� ).....instead of my 50% of house going to Mrs sunshine it goes to my kids ( if I had any).....then council can't include home or force sale if Mrs sunshine goes into care.

Genuinely can't remember how that would be treated for inheritance tax liability.

There is nothing to stop you doing that at present.
You could state in your will that on your death your house is left to your children whilst giving your wife life rent of your house until she dies.

[The AuldYin]

There is nothing to stop you doing that at present.
You could state in your will that on your death your house is left to your children whilst giving your wife life rent of your house until she dies.

No you can't. Your will has nothing to do with what happens to any property you own.