A colleague of mine is dealing with an estate where the property in which the deceased lived is held as to half in a life interest trust set up on the deceased’s late husband’s intestacy for her benefit and the other half is owned by the deceased’s daughter. The property is worth £495K and there is about £20K of other assets.
Does the existence of the life interest trust mean an IHT400 needs completing?
Any guidance would be most welcome.
Martyn Dixon
Harold Bell Infields & Co