IHT and gifts

dzug1

conned wrote: »

tapered relief on some of them

No there isn't, unfortunately.

Taper relief is much misunderstood but only comes into play if the deceased has given away more than the nil rate band.

John_Pierpoint

Good luck - have you got the full set of IHT400 forms (available on line if you want to pay for the coloured ink) to see what you have to do?
I think I would need professional advice.

A few years ago I had a trust involved and an arrogant solicitor asking for 2000 + VAT just to get started - "If the family try to do some of it themselves it never works out".

In the outcome I paid 150 to an intelligent local lady solicitor to hold my hand and double check the trust situation. It worked out very well.
Mind you I then gave her firm the house conveyancing as well.

If you are getting pressure you feel puts you in an awkward position then consider paying for a professional executor service. Yes its a cost but it removes [insures?] your liability and means an impartial individual is handling the estate.

This is good advice if you have someone grasping and failing to realise that you can present them with a "fate accompli" after you have made the decisions and sorted it out. Protect your own position and take your time, you have got to clear everything with the tax man before you can begin to bring the beneficiaries into the picture. It is not your fault that someone has died leaving a "strange" situation and the economy is falling appart by the week. . Some people treat you as though you have missed your credit card payment at the end of the first month after the funeral. Everyone can be an expert with 20/20 hindsight.

conned_2

Yes-
It does help to know that it is complicated and that it cant be hurried, and that other people have felt much the same. I am working along slowly and considering the options- there is a new probate broker now to help, though I don’t think I will need him, but it shows the need for an alternative to solicitors and banks. finalduties.co.uk