I’m worried my son will have a large inheritance tax bill to pay on my home when I die and he becomes the owner.
I’ve heard that gifts that are made at least seven years before someone’s death are free of inheritance tax. I’m in good health now – can I gift him my home in the hope I live for seven years and he has no tax to pay on the property when I die?
J.S., via email
Samantha Gibson, senior wealth planner at Canaccord Wealth, replies: ‘This is a common query. Growing numbers of families are facing inheritance tax bills and
To provide well-rounded coverage and a breadth of insight across various events, we rely on contributions from several staff writers, each bringing their own area of expertise to our publication.