What are Tenants in Common?
We are getting a lot of calls from the public asking about Tenants in common. Most couples own their property as joint tenants, which means that on the death of one of the joint owners then the property passes to the survivor. This is fine in most cases but increasingly you are concerned about inheritance tax. Changing ownership to tenants in common achieves no tax saving without the correct Wills in place. If your estate value/ wealth is over £325,000 and a large proportion of this is in the family home, then changing to Tenants in common and taking advantage of advanced planning or Trust Wills may protect your estate from inheritance tax. This is a complex area to research so call or email us and we will visit you to explain in layman's terms how it all works and if it will work for you. We have already done the research and have many years experience to help you through the tax maze. Why not give us a call, you will be glad you did. Call 01276 415812 or e-mail us at [email protected]