We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Inheritance taxable or something else
Comments
-
The other beneficiary is the errant son. No it's not been mentioned yet.JamesRobinson48 said:Rufty1 said:
The son is one of two beneficiaries. The son lived 100 miles away and many of the amounts are for takeaways, or cash (housebound) or hairdressers (the deceased was bald) or vets bills (you guessed it).JamesRobinson48 said:Presumably the money was withdrawn/spent before the relative passed. If so, might the son have spent it for his father's benefit?
Will the son inherit most/all of the estate anyway, or do other persons stand to lose out here?
So how does the other beneficiary feel about the situation? Have you told them?0 -
There does appear to be a liability according to the website https://www.gov.uk/inheritance-tax/gifts0
-
As executor you have to identify any gifts over the past (7?years). Compile a list of transactions and ask the person to confirm which if any are gifts. Ask for response in writing/email. Job done.There may be a simple explanation for the transactions.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.8K Banking & Borrowing
- 253.8K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 245.9K Work, Benefits & Business
- 601.9K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards