Father in Law has left a will.
Property
80% of residential property to Daughter.
20% of residential property to Son.
Property currently valued at £408,000
At the moment Daughter, myself, 3 disabled children and Father in Law live in said property and will continue to do so after FIL dies).
Cash
90% of cash to Daughter (49 years old)
10% of cash to Son (51 years old)
Cash will be as follows:
£45,000 Life insurance
£500 savings
£45,500 cash in total.
Total estate value: £453,500.
Can you please advise roughly how much IHT would need to be paid, who's liable (Son, Daughter or both), when does it get paid and how?
Thanks for any guidance and advice
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