Distribution or Gifts - items bequeathed in Will, but gifted before death ?

Glum_to_the_end

I'd appreciate some help with IHT & Probate position/value, and the application of deceased's Will:

Background: To continue to fund my Mother's care home fees after two years residence, I needed to sell her bungalow and release the equity. I acted as appointed attorney through the existing F&PLPA.

The property had not needed to be emptied of possessions until contracts were exchanged in July 2024. In the month before completion of sale we disposed of much of the content to a local charity, who were grateful for items that could either be resold or gifted to those in need.

However, specific items were retained, and offered to individuals nominated by my Mother. Where offers of valuable or sentimental items were declined, they were received by other members of the family. The remainder went to the charity.


My mother passed away peacefully in April this year. I am no longer attorney, but now executor. Reading her Will, much of her written bequests confirm her wishes of who was to get what, expressed when she was alive.

So, my questions.

Do I regard these items' values as gifts in the 7 years before death (my thought), so account for them in IHT/Probate and record in the Estate Accounts that these various legacies "failed", as they were not part of the Estate at death?

or

Should they be ignored as the intended beneficiary acquired them as per the wishes in the Will - just that they received them earlier than stated ?

and a problem

How should I record one person's declining an item against another individual's accepting it, even though subsequently the Will directed that item should be given to the original intended recipient ? Importantly, both were in 100% agreement about who should receive it.

Am I worrying over nothing ? Their value in total is less than £1000, and estate value is well within IHT thresholds (2xNRB).

Keep_pedalling

If you leave specific items to people in your will but you no longer own them at the time of death then those bequests fail, so yes you are worrying over nothing. 

madbadrob

Were the gifts of a good value for example a piece of art that could be worth 6 figures at auction or are you talking of  low financial value but of course high sentimental value?  If they are of low monetary value you could lump them altogether on the probate value as misecellanaeous items.  If of course they are worth substantially more you would probably be better advised to list them seperately.  If however the total value in the estate doesnt reach IHT threshold then id say there is nothing to worry about.

This is what I did with my fathers estate and had no issues with HMRC however his estate was well below the IHT threshold.  

Rob