In his mini-budget on Wednesday George Osborne confirmed that a couple would be able to leave a home worth up to £1million to their children without incurring any inheritance tax.
From 2017 a new transferable £175,000 allowance will be introduced for homes being left to children or grandchildren to run alongside the existing £325,000. He said “ the wish to pass something onto your children is a basic, human and natural aspiration”
With this in mind then you would think that the majority of people would protect this aspiration by having an up-to-date Will that accurately reflects their wishes.
This sadly isn’t the case with most people not having a valid or accurate Will. So while we applaud this long overdue raising of the IHT threshold it will count for little unless people get their affairs in order.
At Affio we make it easy, inexpensive and legal to get it done online.
Register now and make you Will reflect your aspiration.