Estate and inheritance tax - confusing situation. 27 January at 10:52PM edited 27 January at 10:54PM in Deaths, funerals & probate 15 replies 552 views

jonnypetrovski

Thanks for the comments so far - very useful. The assertion is correct that there are no assets specifically in my mother in law’s name, although one of the properties is her main residence. It sounds like we’ll need to find a way through the DoV to minimise inheritance tax and moreover to ensure proper care for my Mother in Law. I hadn’t really considered all of the implications of means tested care through Local Authority. In terms of sorting all of this out, I presume we are best to engage both a lawyer and an accountant to work together on the best way forward? 

badmemory

I would avoid a lawyer for now unless one is the executor.  Was the will done by himself?  A good lawyer should have come up with a "what if" in these circumstances.  Is it not even in the will that she can stay in the house as long as needed?  Unless of course it was written in preparation for the divorce, like you can for a wedding.  But then there should have been a divorce settlement.

jonnypetrovski

We’re not sure what the role of the solicitor has been tbh, but my MiL isn’t mentioned at all in the will which feels instinctively wrong. Would it not need to be a solicitor who would draw up a DoV? 

Marcon

jonnypetrovski said:

We’re not sure what the role of the solicitor has been tbh, but my MiL isn’t mentioned at all in the will which feels instinctively wrong. Would it not need to be a solicitor who would draw up a DoV? 

No, but in this case legal advice looks like a very good idea - and not just in respect of the DoV.

Keep_pedalling

Marcon said:

jonnypetrovski said:

We’re not sure what the role of the solicitor has been tbh, but my MiL isn’t mentioned at all in the will which feels instinctively wrong. Would it not need to be a solicitor who would draw up a DoV? 

No, but in this case legal advice looks like a very good idea - and not just in respect of the DoV.

I would agree with that considering the size of the estate. You can do your own DoV but better to make sure it is done correctly.