I have been left the estate of my late husband which has been valued at some £563,000. As his spouse there is no IHT due.
As I am already comfortable financially in my own right, I have contemplated having a deed of variation drawn up in my adult children’s favour. I have been advised that in doing so it would entail significant IHT liabilities for my children as all the espousal IHT exemption would be lost. Is this in fact the case.
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