Inheritance affecting first time buyer
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My father died recently and I will be applying for probate. My sister and I are named executors on his will and the beneficiaries are my sister, myself and his 4 grandchildren. He has left a house and some savings. My question relates to how inheriting a share of the house will affect one of his grand children who has not yet bought a house. Does it mean that this grandchild is no longer a first time buyer, in which case he will pay more stamp duty on a future purchase of a house and also not be able to get benefits from a LISA? If, after getting probate, we sell the house as executors before he inherits his share I believe we could pay more capital gains tax? What is the best thing to do? Have I understood the options properly? I am reading as much as I can about probate but still have a long way to go!