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IHT Twice?

13»

Comments

  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    The OP needs to read up on what happens to the status of the property in the trust when the remainderman  dies there is something that changes but I don't remember what is is. 
  • xylophone
    xylophone Posts: 45,752 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    The OP needs to read up on what happens to the status of the property in the trust when the remainderman  dies there is something that changes but I don't remember what is is. 

    The OP is not the executor of her grandmother's will.

    We do not know exactly what the will said but according to the OP

     My nan passed away first, April 2020, with my Dad end of July and Mum early Sept 2020, surviving my dad by 34 days. My nan is survived by her husband, however he is not mentioned in the will as inheriting.

    It seems that grandmother was the sole proprietor of the property.

    To provide some clarification, my nan left a will naming my uncle and my father as sole beneficiaries with my Nan's husband reserving right to live in the property until death, 

    It is unclear whether an IPDI Trust was created by the will or whether the husband claimed a right to live in the property.

    The OP's father and uncle (the sons of the deceased grandmother) were both alive when she died.

    If there was an IPDI Trust see 

    http://trustsdiscussionforum.co.uk/t/what-happens-if-one-of-the-residuary-beneficaries-of-a-life-interest-estate-dies/4709/3

    the usual provision is that if the named remaindermen were alive when the testator died, the interest in remainder vests when the Will comes into effect, ie that each remainderman became absolutely entitled to his/her share when the testator died, meaning therefore that if either remainderman dies before the life interest expires, their Personal Representative (executor or administrator) stands in their shoes. 

    If the above is the case, then the OP's father's interest became part of his estate which was left entirely to the OP's mother (who survived him by 34 days).

    The OP's mother's will left her estate (which included  the inheritance from father {which included the inheritance from grandmother}  to the OP and her brother absolutely.

    The executor of grandmother's will needs to decide how to register the property at the Land Registry.

    It could be in the names of the surviving remainder man and the OP and brother who would hold it on trust for the widower (if there is an IPDI) or if not, for themselves but the widower might seek to enter some form of restriction to protect his right of abode (if he has one)?

    The executor of Grandmother's will need to take advice as to how to proceed?

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