Prepaid Funeral Plan and IHT

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cavyslave
cavyslave Posts: 180 Forumite
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in Deaths, funerals & probate
Hello,
Can I remove the cost of my late BIL's prepaid funeral plan from his estate for IHT purposes? He paid £7426 for the plan in 2008.

Thank you

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  • Linton
    Linton Posts: 17,172 Forumite
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    Doesnt make sense - having prepaid for the funeral the estate is already £7426 lower than it would have been. You cant have two bites of the cherry.
  • Keep_pedalling
    Keep_pedalling Posts: 16,629 Forumite
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    Regardless of the date he paid for it, it does not form part of his estate so should not be included as part of the estate value.

    You can't deduct it from the rest of the estate, as that would mean it was removed from his estate twice.
  • cavyslave
    cavyslave Posts: 180 Forumite
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    God I'm thick lol - thank you!
  • Keep_pedalling
    Keep_pedalling Posts: 16,629 Forumite
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    cavyslave wrote: »
    God I'm thick lol - thank you!

    No, how ever stupid you think the question is, it is always wiser to ask than to try and wing it.
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