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Loans owed to deceased
LynneD0
Posts: 4 Newbie
I am acting as Executor of my brother's estate. I just need confirmation of something. He invested money £110k in peer2peer lending through Lendy which has now gone into administration and the chances of getting much back are slim. Am I right in thinking that the £110k must be added as an asset, which then pushed him into IHT ? I can't see any alternative but welcome some advice.
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Comments
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Sorry for your loss.
I would be tempted to list it and show it's current value (zero?) just for the sake of being transparent.
I suggest this in the same vein as if his house was worth £100k but may be worth double that in 10 years you would only state £100k as that is the current value.
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⭐️🏅😇🏅🏅🏅1 -
Hi, if you can edit the title to include peer2peer, there are a few folk on MSE gradually resolving the issue.If you've have not made a mistake, you've made nothing0
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Not sure how to edit so I'll re-post. Thanks0
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But the value will not be zero, not all Lendy’s borrowers went into default and the loans also had security attached to them. Trouble is no one really knows what value any Lendy account is now worth.Brie said:Sorry for your loss.
I would be tempted to list it and show it's current value (zero?) just for the sake of being transparent.
I suggest this in the same vein as if his house was worth £100k but may be worth double that in 10 years you would only state £100k as that is the current value.
But I'm not an expert.
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