Inheritence tax - where do you go for a clue?

[carla]

Just wondered.

Citizens Advice should be able to help you.

see a solicitor who specialises in Tax planning or a good financial advisor

what did you want to know a solicitor who specialises in wills and or an accountant will advise

What do you want to know?

Don't have a will, but don't want half (is it half?) going to the government.

Depends how big your estate is

sorry I meant see a solicitor who specialises in IHT planning and wills

Strongly advise you to make a will

There is a substatial free allowance first which is about 250,000 or something

IHT kicks in on estates over £275K.
Money left to spouse is free of IHT.
Tax is 40%

if you don't have a will your husband will inherit

lots of info on the net - \link{http://www.channel4.com/4money/taxpensions/guides/inheritance_tax_guide_101003_page1.html\here's} channel 4s

Thanks, that's what I thought. Mine's a bit more complicated, in that I own half a house with my sister.

Will do that, though.

are you joint tenants or tenants in common - this affects things - see a solicitor

joint tenants other party inherits house
tenants in common, you both own half (or whatever proportion) and can leave your share to anyone

you should make a will but it is particularly important to get expert advice if your affairs are in any way complicated

iota,

Tenants in common, then, in that case, with my sis. Just need to find out where that leaves us both/them/all of them.

do see a solicitor and get expert advice - you also need to think about what would happen to the children if you and dh both popped your clogs and put that in the will