hoping to see the daylight, throughout this utter chaos!

Postby deedee on Fri Feb 24, 2006 6:53 am

what are the tax implications for getting an substantial inheritance from abroad (nl) while living in the uk,married,res.,husband is invalid(benefit).father is looking into various options.house on our name,getting money half of 1/3 now or later including interest when he passes away?how can my brother and i safeguard our money more(mum's share as my dad has new girlfriend already)
thank you.
deedee
 
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Postby CDavey9501@aol.com on Fri Feb 24, 2006 9:36 am

You will need to slow down and write more clearly. Give some hard facts and someone may respond.
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Postby deedee on Wed Mar 01, 2006 7:34 am

I am living in uk with husband ,two kids. My mother past away last year,who had 50% of house,company(now sold),other assets shares,money. My brother and I both have 1/3 share of mum's share and dad has 1/3 share.Dad has his own 50%. In Holland the law is that the full inheritence go towards the partner(dad) and stay under his control until dad passes away. During the time dad is alive,my brother and I will get an interest over the inheritance. Now the question at the time was, does this have any implications in uk?(dad's q's).Is it better to keep money there? I am resident here,but still hold a dutch passport,driving licence etc.Whether I am a domiciled or non-domiciled I do not know. The will is according to dutch law.
2) My husband in the meantime has no work due to rare severe arthritis,he cannot work.Which I'm sure makes things more complicated.I am volenteering.
3)My dad has now a new girlfriend,who is a big spender,how do we protect our share?(mum never was)
4)Dad is thinking,as dutch inheritance laws have changed recently,to cut down on taxes to
*pass the house on to our names(bloot eigendom-meaning we 'own' it,but he and my brother continue to live in it).
*to give us usufruct?? which would be then 1/6 instead of 1/3 of the inheritence and then we do not qualify for the interest option.
My brother and I do not have a lot of communication with dad at the moment.
What should I do to protect my share,we are talking about an substantial amount.I would like to have my share that was due to mum,she died young instead of my dad wasting it away to some girlfriend who is just after dad's money! As well that I worry about the fact my husband suddenly fallen ill,since last year. I don't know Dutch laws and I certainly do not know English law. And no money available to hire an expensive lawyer or taxaccountant!!!
Good advice or intro would be appreciated.
deedee
 
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Joined: Wed Aug 06, 2008 3:35 pm

Postby kirstie.williamson@a on Thu Mar 02, 2006 3:03 am

Where was your mum resident and domiciled at the date of her death ?
Where were her assets located - house, cash etc ?
If everything took place in Holland then you need specific Dutch tax advice to address your queries. The fact that you are resident in the UK will not affect your mum's will and the distribution of her assets which will have taken place under Dutch law.
It sounds as though your father has a life interest in the assets left by your mother but that the underlying capital should ultimately pass to you and your brother.
Generally this would allow your father to receive the income from any assets - such as interest on cash deposits, and dividends from shares - but he would not be able to touch the underlying assets themsleves. However, I know nothing about Dutch law so this may not be the case in Holland.
If you Dad is entitled to the income then this is money for him to spend as he wishes including giving it to his girlfriend even though you may not approve.
I would speak to the lawyer who drew up your mum's will and who administered her estate. Ask him/her for clarification of your and your brother's entitlement. Has some kind of trust been established to protect your share and if so who are the trustees ? The lawyer should be able to answer such questions without incurring a large fee - I would expect it to be included in the administration process.

This is the best I can offer.

KW
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