I have 2 adult children. One has his own place, the other one lives with me in the family home.
As I understand it, this son could inherit the home tax free. But this house would form a major part of my estate.
If I will my assets to be divided between the two what would be the implications for CAT for the son living in the family home?
If he could get a loan to buy out his brother and continue to live in the family home would he have any CAT liability on his share of the home?
The value of the home would be over their combined inheritance allowances
As I understand it, this son could inherit the home tax free. But this house would form a major part of my estate.
If I will my assets to be divided between the two what would be the implications for CAT for the son living in the family home?
If he could get a loan to buy out his brother and continue to live in the family home would he have any CAT liability on his share of the home?
The value of the home would be over their combined inheritance allowances