Hi, my Estate is £3M and will attract IHT. I’m now 75 and want to leave matters resolved for my son, by writing a new Will, replacing a 2014 version, where he will be the sole Executor and beneficiary.
On 1 July 2019, I gifted him £144k to help him buy a house. If I pass away before 7 years are up in July 2026, I believe he’ll have to pay some tax on that Gift.
What wording should I add to my new Will so my Estate pays the Tax on the July2019 Gift, rather than my son doing so? Thank you.
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