My father (77) and Mother (72) are both making new wills. They are UK residents who own their own home (no mortgage) with an approximate value of £450,000. In addition, they each have total assets of £540,000 and £330,000 respectively and no debts.
I am a British citizen (50), married with 2 teenage children now living in the Republic of Ireland and likely to remain so until retirement or beyond.
The solicitor who is in the process of making the wills asked me to research the Inheritance Tax (IHT) implications of our situation to identify if the Wills should be formed in such a way to minimize (IHT) for me as an Irish Resident. Do you have any advice please? - any suggestions most welcome
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