Joint Account IHT Form Completion iht404

[caffe]

Thanks Maths, as the estate is likely to be over the IHT threshold would the daughter be able to make use of NRB transfer of mother who passed away in 1989 even though father remarried?

[maths]

In short, "yes" assuming first wife did not use her NRB which would be the case if she left her estate to her husband. Depending upon the size of his estate and who inherits it may be that it isn't possible to fully utilise two NRBs.

It is possible to do some planning to maximise what in total given husband and two wives is 3 NRBs.

On the basis that at his death he owned beneficially 100% of the jointly held bank account (as was suggested above) he would need to leave the monies in the account by will to his daughter even though legal title would pass automatically by survivorship to his daughter (whose name appears on the account).

In the absence of a will the intestacy rules would apply.