For a pre deceased spouse, when working out how much of the £125K you can transfer to their recently died spouse, am I right in thinking that you don't have to take into account how much of the pre-deceased spouse's estate they left to their direct descendants?
So that, in fact, you can transfer all of £125k from them to the recently died spouse for IHT.
( I realize that for the recently deceased spouse, the %age of £125K depends on how much they left to their direct descendants, etc.)
PS Sorry it's a bit rambling.
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