Gifting transferring money before death probate etc

Sea_Shell

apples24 said:

Sea_Shell said:

I've just remembered...

Maybe they are worried about the planned change to include unspent pension pots into the IHT calculations?!?

Pretty much yes mate 


so if it’s proven to be a gift, question how is it proven? 

The moneys been sat there a couple years now 

Someone else may be able to confirm, but AIUI the onus is on proving a gift was in fact just a loan, if they need/want the money back.

It's assumed to BE a gift, unless documented to the contrary.  So if returned, it could be seen as a gift back again, with potential issues around that.

However, a simple letter confirming exactly the status of the transfer would suffice.

BUT, bear in mind you could come unstuck, if you try to "fudge it" either way.

It's black and white...gift or loan.