What's new in IHT planning for spouses and the family home? By Nichola Ross Martin
There was a lot of media interest last week in an inheritance tax case that went before the Special Commissioners back in February. According to press reports “thousands of families” will be affected by the new ruling which affects spouses who have used a “nil rate band” discretionary trust in their will planning. This article goes behind the attention grabbing headlines and takes a look at what is up with IHT planning for the main residence for spouses.
For most people residing in the UK, property in the form of their home is their main asset on death.