I would appreciate some help with this scenario.
Married couple with residence worth £650k in husband's name only, and savings & investments of £950 K. Most of the savings are in wife's name., but husband's health is better. They want to give their son (only child) £500 K to buy a house , and are considering making a PET from husbands account because there is a stronger chance of his lasting 7 years.
Q 1 :If residence remains in sole name are they losing the wife's potential RNRB of £175 K?
Q2 : If money were to be transferred from wife to husband prior to husband gifting £500 K to their son, could this be challenged as an associated operation?
Q3 : If husband were to die within 7 years of making the PET, would it have been better to have left the money in the estate, or do they have nothing to lose by making the PET now?
Thank You.
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