O
oohbetty
Guest
My dear dad passed away sadly a few months ago and everything passed to my mum. The house is already owned outright in her name but he had saved quite a substantial amount of money through years of hard work and clever management (of which I do not have a clue!). My mum (who is in her late 70's) doesn't have any idea what to do with the money for the best and I don't know how to help her. She had a meeting with a financial adviser for a well known building society who says that her whole estate is worth over the £650,000 inheritance tax threshold (due to dad's nil rate band allowance) and she should start spending her money but she doesn't want to do that. She thinks its a good idea to make use of this once in a lifetime situation to try and make money through property investment or similar. The adviser also mentioned investing in bonds/stocks to put into trust to avoid IHT in the future. Is this the best idea or are is there a better way with a lower risk? My mum is keen on buying a flat as the prices are so low at the moment but the f.a. put her off a bit. Is this advisable? What could she do to make the best use of the money rather than spend it just to stay below the IHT threshold? Any advice appreciated from experienced people thanks.