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Tax implications?
Comments
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Alex444 said:I take it that her estate would now be regarded as "Large" if there 20K is included?
There is no property involved.POA ceases on death.
In the event that NS&I require Confirmation to access the premium bond money, then you will be able to use the small estate procedure (if you wish to) if the gross estate value is less than £36,000.
While non-exempt gifts are taken into account for IHT, gifts do not affect gross estate totals for Confirmation.
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It is not helpful to quote English law and practices that do not apply in Scotland.1
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Ah - I missed that.buddy9 said:It is not helpful to quote English law and practices that do not apply in Scotland.Good point - I will delete my post.I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.0
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