DoV query

Gers

My beloved mother died in May this year and I am the only beneficiary as well as the executrix.

Under Scots Law I have distributed 'legal rights' monies to her five grandchildren (my only brother is also deceased). I also increased the amount of monies over and above the calculated share.

Can I do a DoV to ensure that the money I distributed drops out of my estate immediately and not subject to the seven year taper rule?

Thanks!

buddy9

This makes a lot of sense if your own estate could be in IHT territory. I did similar.

While your late brother’s children would be entitled to legal rights (legitim) by representation, I am assuming that if some of the grandchildren are your own children, then there would be no legal rights entitlement for them and they received a gift.

Gers

buddy9 said:

This makes a lot of sense if your own estate could be in IHT territory. I did similar.

While your late brother’s children would be entitled to legal rights (legitim) by representation, I am assuming that if some of the grandchildren are your own children, then there would be no legal rights entitlement for them and they received a gift.

Yes, I would be if I died tomorrow or even next year!  Thanks.