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Young widow, inherited inheritance tax allowance

78 replies

Softnatural · 10/10/2023 10:37

DH died leaving me a young widow. There was no tax to pay on his estate becuase it largely comprised of our shared house, which passed to me outside of his estate and pension assets which were exempt.

It does however leave me with quite a high net worth (and hopefully a lifetime to use it, so there might be nothing left!)

I understand my own estate can use his inheritance tax allowance which, if it included property, essentially means up to £1m tax free, but is this indefinite? I might not die for another 50 years! Also, what happens if I remarry? No plans to, in fact quite the opposite to protect my DC's interests, but just curious.

OP posts:
SchoolOfDogs · 10/10/2023 18:55

Why would I need a solicitor involved?

Because your assists and circumstances have changed and you need your wishes legally recorded. You have children so to ensure they are protected too. And because it would mean you're not relying on mumsnet to answer the questions you have about things that are too important to trust randoms on the internet with.

Littlegreene82 · 11/10/2023 06:24

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This has been deleted by MNHQ for breaking our Talk Guidelines.

calyxx · 11/10/2023 19:40

Having been through this with parents I would say keep your marriage certificate in a safe place. I had to prove a marriage from 58 years back. And I think there is provision for IHT allowances to pass through more than one widowhood, possibly guidance on HMRC site.

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