Q2. I understand that the inheritance has to be valued for tax purposes . With this being the case, what needs to be considered? The son/daughters home, a death in service payment, the value of their car, andy savings they may have had?
If the home ( son/daughters) has an outstanding mortgage with no mortgage protection in place is this considered when the inheritance is being valued?
If the inheritance is valued at less than 225k would this make the parent exempt from paying inheritance tax if they were considered to be eligible to be included in the Category A band?
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