Tax on large gifts

getmore4less

Mojisola wrote: »

Oh, it definitely is worth mentioning because it's something a lot of people don't consider.

If a deed of variation had been done when the father died, this problem wouldn't have occurred but it could well be a problem for the mother in this case.

A DOV does not protect from deprivation of assets.

Mojisola

getmore4less wrote: »

A DOV does not protect from deprivation of assets.

No, it doesn't. It's not clear whether that would be an issue here but it's another thing to be aware of when making decisions about inheritance issues.

My mother died very suddenly last summer and I am so glad that all her affairs were in order. My parents had discussed what they wanted with the family and then made wills setting it all down.

It's hard enough dealing with the loss of a parent when all the administrative stuff can be dealt with easily. It must be so much more difficult when there are problems because their wishes weren't legally recorded.