My elderly mother is the sole owner of a new flat for which she now needs to make a nomination to the CHS, and consistent with that, a codicil for her will.
I and my wife each have another house. Hence if my mother nominated one/ both of us, after my mother's death we would have to pay /pay more wealth tax.
I and my wife are not keen to have it nominated solely to my only son, who is still in college. My questions:
1) Would a nomination by my mother to [my son 50% and me 50%] OR [my son, me, my wife 33% each] make me/my wife liable liable for wealth tax?
2) What about sole nomination to my son and life interest to me and my wife? Does this keep me and my wife out of wealth tax?
Thanks
