Donations to charity before probate

Yorkshireman99

theoretica wrote: »

There is no inheritance tax due on gifts to charity in someone's will, so HMRC will realise they won't benefit whatever the value. Even if there were a Picasso and a diamond tiara or two in the charity donations the most it would take would be a deed of variation to remove HMRC's interest - there is no money in it for them so no benefit to quibbling the worth of household goods.

The OP says the executors have decided to gift estate assets but does not state what the will says. The items might be part of the residuary estate.

Boleyn19

There are only two beneficiaries, myself and my brother. There is no gift to charity in the will. We have decided to donate most contents to charity rather than try and sell.

theoretica

Yorkshireman99 wrote: »

The OP says the executors have decided to gift estate assets but does not state what the will says. The items might be part of the residuary estate.

Hence my mention of a potential deed of variation if HMRC try to claim these donations were grossly undervalued - in which case only the lawyers would benefit. As you point out HMRC are no fools, and quibbling over this valuation will not benefit them.

SevenOfNine

What did she have on the contents insurance as an estimated value? Might give you a bit of a guide.

Sea_Shell

House contents would be new for old value, not second hand sale value. The cost to replace everything is substantially more than its current worth.

Marcon

I think much of this thread is possibly wide of the mark. Schedule IHT408 should do the trick nicely: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/497811/IHT408.pdf