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Wednesday 13th June 2018

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10:01 AM, 23rd January 2020
About 2 months ago

Solutions for Widow's Right to Remain in Family Home

A life interest trust- (trustees need to be appointed) your mum will remain the beneficiary and can enjoy the asset for her lifetime but she does not (and therefore you will not) own the underlying capital because it belongs to Mr M’s children. Upon her death, she can not leave the asset to anyone else (or sell it during her lifetime) because the true beneficial owners are Mr M’s kids. They own the capital. As I understand it, upon her death the capital is then transferred to Mr M’s heirs and thus IHT will need to be paid by them.
Definitely and of course seek advice from IHT solicitors and/or good property accountants.... Read More