H & W put jointly owned property into lifetime trust 2013 - obviously a GWROB which was not pointed out to them at the time (surprise surprise) no rent paid so cannot be a PET.
Original trust property sold when they downsized - new property held by trust and excess funds retained in a bank account.
H has now died. Assuming value for IHT400 is value of whole property at date of his death plus reference to the trust bank account?
Bit of a mess all round as the clients were told by the company who set it up that it would protect them from home fees and on the IHT front!