Hi there if i could ask for some help
Mum recently died and left everything to my Father. House was in joint tenancy. Mums savings apprx £130.000 and dad has apprx £30.000 savings and house value apprx £600.000. Probate has all been sorted and passed to my dad.
Dad has since moved in with us and we have put house up for sale. If dad sells house and wishes to give half proceeds away ,during his lifetime, to myself and brother who are the sole beneficiaries in his will .---- Will we still be able to claim the new allowance for inheritance tax on homes ----and therefore have no IHT to pay on his passing ?
grateful if anyone could clarify
Thanks
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