Probate - Transfer of Nil Rate - 2nd Parent Passing.
Discussion
Parent passed away last week,
Probate and processes all looks pretty easy apart from the transfer of nil rate.....
This was the second parent to pass away.
When the first passed they left me half of the house but allowed 2nd to live there until thier passing.
Looks like an effort to protect property in case of going into a home.
I was not put on to the deeds at that point, so I am not exactly sure when this was left to me... then or now....
So....
Do I take it then I need to complete IHT217 to transfer the nil rate and I can answer no to Q9 "Did they have any jointly owned assets which passed
after their death to anyone other than the spouse or civil partner who has died now?" as for IHT they still had full use of the asset.
or answer Yes and complete: forms IHT400 and IHT402
Probably a very common occurrence but cant find much guidance.
Cheers.
Probate and processes all looks pretty easy apart from the transfer of nil rate.....
This was the second parent to pass away.
When the first passed they left me half of the house but allowed 2nd to live there until thier passing.
Looks like an effort to protect property in case of going into a home.
I was not put on to the deeds at that point, so I am not exactly sure when this was left to me... then or now....
So....
Do I take it then I need to complete IHT217 to transfer the nil rate and I can answer no to Q9 "Did they have any jointly owned assets which passed
after their death to anyone other than the spouse or civil partner who has died now?" as for IHT they still had full use of the asset.
or answer Yes and complete: forms IHT400 and IHT402
Probably a very common occurrence but cant find much guidance.
Cheers.
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