Published on: 23rd January 2023

Remarried Widow(er) and Inheritance Tax

If you are married (or in a civil partnership) and own your house and are passing “everything to each other and then to the children” your allowances against Inheritance Tax are normally £1,000,000. With house prices (over time) increasing and allowances “frozen” (until at least 2028) more and more Estates will be paying Inheritance Tax.

If you are married but have previously been a widow(er) there might be a way using a special trust to increase your allowances against Inheritance Tax. It may be possible to increase your allowances to £1,325,000 or even £1,500,000.  And if you have both previously been a widow(er) it might even be possible to increase your allowances to £2,000,000.

So if, as a couple, you have assets over £1,000,000 and one of you has, or both of you have, been a widow(er) then please contact us for specialist advice and we will ascertain whether we can increase your allowances against inheritance tax.

======================================

If you wish to give instructions or require general information about our Wills, Lasting Powers of Attorney, or Trusts then we will carry out a telephone or Zoom appointment. However, if you wish to give instructions to one of our Consultants and you feel that you can only do this at a Face to Face meeting we are offering, at our Consultant’s discretion, a limited number of Face to Face appointments in most of the areas we normally cover (subject to Government advice). To see the areas we normally cover please click here. To arrange an appointment please telephone 01732 868190 or click here.

======================================

Back to all news