Often the largest asset owned is the family home. The Inheritance Tax (IHT) threshold for married couples and civil partners who own a family home has been increased to a potential maximum of £1m.
However, the mechanics of the rules are complicated and may not apply to everyone, even though at first glance they appear to qualify.
It is also very important to consider whether you should own the property as 'joint tenants' or 'tenants in common'.
We will ensure that appropriate advice is given in relation to this important issue.