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What Will Happen to My Business if I Die?

Reducing Inheritance Tax Liability with Gifts

Disputing or Contesting a Will

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Lasting Power of Attorney

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Witnessing a Will

What does an executor and trustee of a will do? LocalSolicitors.com

What does an executor and trustee of a will do?

The answer is not straightforward and depends on the wording of the Will and the circumstances of the gift.

If there is a clause in the Will requiring lifetime gifts to be taken into account then his share of the estate should be reduced. Interest at the rate of 4% per annum, not compound, may be added to the value of the gift (subject to the wording of the Will).

Alternatively if the gift was of a substantial amount, subject again to the exact wording of the Will, it may be that his share is reduced unless there is evidence that this was not intended.

If your mother is unclear as to the situation she should seek advice from a local solicitor; if it is your concern then you should seek local advice after your mother's death.

WILL - REGARDING EQUITY RELEASE

The short answer is no. Inheritance tax is payable on the value of the whole estate at the date of death, including any property, subject to any applicable reliefs (eg. the Nil Rate Band). This is the case regardless of when the property is sold.

I have inherited a property. Is there a time limit within which I must sell it to avoid inheritance tax?

What does an executor and trustee of a will do?

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