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IHT on residence left to wife and children

when is IHT payable and what valuation is is payable on?

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Husband has died and has left the PPR 40% to his (second) wife and 60% to his (not her) children. Widow has the right to occupy for life.

It seems that solicitor has said that this is treated as 100% to wife on husband's death and only when the widow dies does the 60% come into charge.

Is this correct? If so, will IHT be payable by husband's estate after widow dies on 2019 value or value a tthe time of widow's death?

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By chicken farmer
14th Dec 2019 23:31

Suggest you swot up on leases for life.

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