Inheritance Tax

[BoldonLad]

That second property is lovely. Some nice affordable areas in the NE if you live there already or are prepared to move. I like the area round Durham and out towards Whitley Bay a lot.

Very true, I wouldn't advise the first property however.

 

[Beebo]

Probably. It's quite a strict rule. One spouse has to leave their estate to the other spouse who then has to leave the estate to the children. If both parents die in the same accident it doesn't apply for example.

I don’t think that’s true.
My friend who is a probate solicitor told me that in the event of a married couple dying the older partner is always deemed to have died first.
But if you have a mirror will it is irrelevant.

 

[the snail]

No, but my children might. It matters to them that they have a home.

They can always get jobs and pay for one themselves?

 

[winjim]

I didn't read the ad fully, since I am not in the market, but, I doubt it is compulsory to turn it into one house. Actually, I think, it may be a Conservation area, so, there may be limits on what can be changed.

I didn't intend to imply that it was. But you are aware they are being sold together. It's being marketed as suitable for development, either as one dwelling or two.

It would be interesting to revisit in a year or two and see what's happened to them.

 

[BoldonLad]

I didn't intend to imply that it was. But you are aware they are being sold together. It's being marketed as suitable for development, either as one dwelling or two.

It would be interesting to revisit in a year or two and see what's happened to them.

I occasionally walk past that way, en-route to the pub, or, it is part of one of my cycle routes, if I notice any activity, I will report back.

 

[icowden]

They can always get jobs and pay for one themselves?

Yes. They can. When they have left school. Until then it's tricky to be honest.

 

[Ian H]

The housing market would return to sanity if we had a properly regulated rental sector with rent controls and secure tenancies - and perhaps even a return to a sensible public housing policy.

 

[Deleted member 28]

Probably. It's quite a strict rule. One spouse has to leave their estate to the other spouse who then has to leave the estate to the children. If both parents die in the same accident it doesn't apply for example.

You better be careful then.

 

[Deleted member 28]

Yes. They can. When they have left school. Until then it's tricky to be honest.

I doubt they would be allowed to live alone in the 'family home ' if still children surely?

Perhaps you should have double child allowance as I bet the dinner money isn't cheap at these private schools.

 

[newfhouse]

The housing market would return to sanity if we had a properly regulated rental sector with rent controls and secure tenancies - and perhaps even a return to a sensible public housing policy.

Labour had a reasonable plan in 2019. I doubt much of it remains.

https://labour.org.uk/wp-content/uploads/2019/12/13218_19-Housing-Manifesto-v4.pdf

 

[icowden]

I doubt they would be allowed to live alone in the 'family home ' if still children surely?

There's that bit between 16 and 21 when they are still in education...

 

[Deleted member 28]

There's that bit between 16 and 21 when they are still in education...

They'll be at uni for some of that surely?

Let's face it you're talking boll0x and you know it, the chances of both you and the missus dying in an accident at the same time is highly unlikely and you know it.

There's people on here that can't even get a job and live in social housing and on benefits and you're feeling hard done to because you live in a half million pound house and someday, someone might have to pay some duty on a pile of free money!

 

[theclaud]

There's people on here that can't even get a job and live in social housing and on benefits and you're feeling hard done to because you live in a half million pound house and someday, someone might have to pay some duty on a pile of free money!

I'm sure we all wish the Cowdens a long and healthy life, but Shep does pretty accurately nail it here.

 

[newfhouse]

I'm sure we all wish the Cowdens a long and healthy life, but Shep does pretty accurately nail it here.

Don't you hate it when that happens?

 

[theclaud]

Don't you hate it when that happens?

Actually, I'm all for it.