Borrowing money from elderly grandparents

CLAPTON

well the estate of a couple essentially have a IHT allowance of 625,000 so it would seem that IHT is irrelevant anyway.

in principle your debt to them would need to be repaid to the executors upon their death unless there was an agreement to do otherwise.

presumably either you or your parents are potentiallly beneficaries of the will so would there, in practice be a problem anyway? i.e. the residual debt could be deducted from your share or your parents could allow the debt to continue on the previous basis.

Newtos

The plan would to be continue to pay it back until it is completely paid off, whether that is directly to my Grandparents or to the beneficiaries of their will, which will be my Dad and my Uncle. I hope that they will live for at least 7 years as the thought of losing them is awful, but with them both at 92 I need to think realistically.

I'm not asking for moral judgement on asking my grandparents. Ultimately I know my family and my relationship with them, I was just asking for factual advice on inheritance, which I now have, so thank you :j

macman

Upon their demise you will have to pay all the remainder back, not just continue paying the instalments to the executors, unless agreed otherwise.