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Where Taxpayers and Advisers Meet

Implications for care home costs from tenancy arrangements.

Treggy
Posts:16
Joined:Fri Mar 31, 2017 11:46 pm
Implications for care home costs from tenancy arrangements.

Postby Treggy » Wed Nov 03, 2021 10:30 pm

Advice please, in the event of the death of one spouse, on the difference in exposure to care home costs depending whether the property is held by a married couple as Joint Tenants or Tenants in Common. And if I may also ask, in respect of each person's residential £175K inheritance tax allowance, whether JT or TiC is more beneficial? The couple have mirror wills leaving all to each other. Thank you.

AGoodman
Posts:1419
Joined:Fri May 16, 2014 3:47 pm

Re: Implications for care home costs from tenancy arrangements.

Postby AGoodman » Thu Nov 11, 2021 1:34 am

From the tax side, it makes no difference for the RNRB, assuming (as you have said) a t-in-c was being left to the survivor anyway.


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