Last Will : Who Gets Your House After You Die?

According to last date, 70% of British households are owners. Housing is the main heritage of families, it represents more than 60% of their wealth and that is why it is the main element that is transmitted from parents to children. The most common is to leave the house in inheritance with your last will, but it does not have to be the best alternative.

In front of the inheritance is the donation. What is the best formula to leave the house to the children? Which do you pay less taxes with? Which avoids more problems for the heirs?

The first thing you should be clear about is what each of them consists of. The inheritance is received when the owner of the house dies and always after paying the corresponding taxes. Donations are made in life and that is why in this case it would be like an advance of inheritance in life. In addition, unlike the previous case, you first receive the house and then pay taxes.

Make a will

You may have thought about making a will many times, but you have never found the right moment or felt like doing it. Perhaps you have also wondered why make a will or have avoided thinking about it, since it is an issue associated with death. However, making a will is necessary and advisable, as it is a simple and useful task that allows you to rest assured that there will be no future conflicts about properties.

Making a will is the most practical way to anticipate future problems between relatives and relatives of a deceased. It is deciding on the fate of assets and property, as well as the possibility of expressing the last wills.

After working hard for a lifetime in the house of your dreams, it is time to leave it to the next generation. But what do the British think about this process today?

Provided by Beyond Life