Kent Solicitors

The press has recently covered the matter of the 2 elderly sisters in Wiltshire who tried to claim they should be entitled to the spouse/civil partner Inheritance Tax Exemption because they had lived together for so long. There are constant references to the survivor of them having to sell the house to pay the tax. Whilst, we can sympathise with them, there would be no need to sell. Inheritance Tax on real property ie land and houses is payable by instalments over 10 years. They could use an approved Equity Release Scheme to raise funds for each instalment.

Labels: Inheritance Tax Spouse Exemption Nil Rate Band