My wife and I have mirror wills with life interest trusts included which prevents all assets in spouses sole name passing to the survivor absolutely.The surviving spouse is a trustee along with two sons,with absolute control of the trust.
In completing Form IHT205 I would want to be able to include ALL deceased assets as Exemptions at Box J of this form(thus avoiding IHT) as stated in extract below...
‘In box J, enter the value of any exemption for assets passing on death to either:
• the surviving spouse or civil partner of the deceased.’
- ........
But the Will appears to not allow me to do this since the Will trust prevents assets passing to Survivor?!....
How is this contradiction overcome?.....would I include deceased assets here anyway,or should they be included elsewhere?
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