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Newbie - sole exectutor of parent's complex(ish) estate

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  • poseidon1
    poseidon1 Posts: 3,249 Forumite
    1,000 Posts Third Anniversary Name Dropper
    edited 5 April at 10:39PM

    In your position as the sole residuary beneficiary of the estate and a £700k S &S ISA in point, I absolutely would drag out the estate administration for the 3 year period allowed to benefit from tax free gains and the income tax shelter the rules afford you.

    Of course this is subject to satisfying the fixed sum legatees in a timely fashion, but if you can do so by only partially encashing the ISA that would be my approach.

    Given you only have a personal £20k annual isa allowance ( doubling to £40k if married), it would be a shame to squander this generous tax free ongoing estate ISA provision by winding up the estate prematurely.

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