I am 35 and disabled. I live with my parents and my mum is also disabled. Our incomes are intertwined, the three of us supporting the three of us.
But I am one of four children and my parents used the EU Regulation, allowing UK law, to make their will. I inherit everything and, depending on circumstance, will pay virtually zero inheritance tax.
My will, however, is harder as I have neither husband or children. There is no cash involved, just a property. I will leave it (my parents fully support this) to my niece and nephew. However, inheritance tax is around 55%.
Are there ways to cut the bill as they would have to sell a place they love to pay the tax? H.G.