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Gifting to children
Comments
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Yes. Just try to avoid dying in the next 7 years, or there will potentially be inheritance tax to pay on it by your estate.1
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And ask/tell her to get rid of the credit cards so you don't need to repeat this in a couple of months/years. (been there/done that)I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe and Old Style Money Saving boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
"Never retract, never explain, never apologise; get things done and let them howl.” Nellie McClung3 -
Deleted_User said:Yes. Just try to avoid dying in the next 7 years, or there will potentially be inheritance tax to pay on it by your estate.0
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If you are worried about the potential IHT could you not just call the companies and pay them all off instead?LBM Debt Total : £48,326.50
Pay All Your Debt Off By Xmas 2023 - #50 £1,495.29 / £12,000.00
Saving For Christmas 2023 - £1 a day challenge - #6 £100/£1095.001 -
ZaSa1418 said:If you are worried about the potential IHT could you not just call the companies and pay them all off instead?0
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Unless you trust her 100% to clear the debts, then pay them off direct yourself.No free lunch, and no free laptop1
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