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Where Taxpayers and Advisers Meet

Post Death Trust & Inheritance Tax

LJBQuery
Posts:2
Joined:Mon Oct 11, 2021 5:26 pm
Post Death Trust & Inheritance Tax

Postby LJBQuery » Mon Oct 11, 2021 5:37 pm

My father has left his house to his 3 children on trust to sell once his beneficiary (unmarried partner) either passes away or remarries. Does this mean that although the house is being left to direct descendants that we will not be able to claim the RNRB? Also does this affect whether we can claim the TRNRB from my mother who passed away over 20 years ago? Thanks

AGoodman
Posts:1738
Joined:Fri May 16, 2014 3:47 pm

Re: Post Death Trust & Inheritance Tax

Postby AGoodman » Tue Oct 12, 2021 7:38 pm

Almost certainly not i'm afraid.

The arrangement would be treated as a settlement and, as per s.8J(4) Inheritance Tax Act, you and your siblings are only treated as inheriting if you have an immediate right to benefit from the property. Your father's partner has this right rather than you.


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