Inheritance Tax Question

[grandnagas]

Could some one please tell me can one brother give one of his homes to another brother? If so does he has to survive for 7 years after the gift to avoid inheritance tax? Thank you.

[Simon Sweetman]

He can make the gift : Capital Gains Tax may be a more immediate problem, because the transaction will be deemed to take place at market value even though it is a gift.

Talk to somebody before you do this.

simon.sweetman@btinternet.com