IHT after death

Postby grandad on Sun Aug 14, 2005 2:07 pm

Hi,
My father recently passed away and has left his finances in a great mess. He shall come in to the IHT by about £50,000. Is there away I can avoid the taxman having this money legally. My father did not setup a will. Any responses are much appreciated,
Regards Jack
grandad
 
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Postby Lee Young on Sun Aug 14, 2005 11:49 pm

Assuming your mother is not alive, or your father was not married, then, other than giving that part of his estate that exceeds the available nil rate band to charity, the IHT can not be avoided.
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner


Partner, Frettens LLP
leeyoung@frettens.co.uk
01202 491701
Lee Young
 
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Postby King_Maker on Mon Aug 15, 2005 1:48 am

And I assume your mother died more than 2 years before your father?
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Postby grandad on Mon Aug 15, 2005 2:06 am

Yes. We intend on selling the property. We have already had it valued, however is it possible to quote a figure that is say 10%-20% out of the valuation,
Regards Jack
grandad
 
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