How much can be given as a gift

getmore4less

Yorkshireman99 wrote: »

I think you are, yet again, just being deliberately obtuse. If you can't contribute something positive to a discussion then I suggest you refrain from comment. It is very well known that there are numerous opportunities for cost effective future IHT planning. Even quite simple steps with an estate of £650,000 will save several thousand pounds in future though not on the father's estate. They may be well known to the minority of people but many do not know. To suggest otherwise is simply misleading.

you are the one that keeps saying need more info stop making assumptions before making claims, just like the one you made.

Of course there MAY be savings IF the estate is large.

You claimed there WOULD be saving with out a clue how big the estate is.

The only thing known is there is a potential £26k gift to 5 people(2*£10k + 3*£2k).

Yorkshireman99

getmore4less wrote: »

you are the one that keeps saying need more info stop making assumptions before making claims, just like the one you made.

Of course there MAY be savings IF the estate is large.

You claimed there WOULD be saving with out a clue how big the estate is.

The only thing known is there is a potential £26k gift to 5 people(2*£10k + 3*£2k).

Read what I said, which was that on an estate with a value of £650,000 there will be significant savings with proper estate planning. That is fact. Do try to keep up.

getmore4less

Yorkshireman99 wrote: »

It is not a straightforward as some will tell you. Your mother needs to get paid for professional advice from a STEP qualified solicitor or PFA to ensure she avoids the pitfalls and maximises the tax savings that are available. The fee should be much less than the savings that should be made.

Yorkshireman99 wrote: »

Read what I said, which was that on an estate with a value of £650,000 there will be significant savings with proper estate planning. That is fact. Do try to keep up.

Read your own posts.

getmore4less

Savvy_Sue wrote: »

Sorry, don't know WHAT I was thinking of when I posted earlier!

DOV might become useful after Mum dies, depending on the potential size of estate of who have inherited from her and what her will says.

easy to forget, most DOV are only useful for future tax they can come in handy if there are serial deaths within 2 years where a redirection can save considerable amounts when other relief does not apply.

With true gifts rare for them to make IHT worse.