I have a terminal illness and have been advised to leave my estate entirely to my wife rather than to my children as I had planned. My wife is comfortably off in her own right
The justification provided for this advice is that if I leave my estate to my children my own IHT allowance £325,000 will be used up. But as there is no IHT liability between spouses my allowance of £325,000 would remain intact, and available for my wife’s estate to claim on her own eventual demise.
Thus providing a total of £650,000 IHT exemption for her estate rather than just her own £325,000 exemption
Is this in fact the case
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