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My Late Father's Credit Cards...
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^^ Just what I was thinking, is there a threshold for inheritance tax?0
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AMILLIONDOLLARS wrote: »You make no mention of inheritance tax, surely you would be liable for this as well? if the value of the house is over the limit?
AMD
No, its the total value of the estate that matters and as the original poster said there were large debts it seems unlikely that IHT is due. Also letters of administration would not have been granted unless any IHT due had been paid.
The credit card debt should be repaid from the assets of the estate.
Nigel0
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