I don't know where the idea has
come from that if a beneficiary decides to live in a property, there is no
inheritance tax to pay but that is not the case. If someone inherits a property
or an amount of money, then if it is over the inheritance tax threshold, there
is inheritance tax to pay. There is no inheritance tax between spouses and no
inheritance tax for bequests left to beneficiaries who are charities. So we can discount that.
Assuming that the other
beneficiary wanted to buy out the siblings share, the executors are under a
duty to make sure that the OB pays full value and that this price is supported
by three independent valuations.
The disabled beneficiary is not
able to get hold of the lump sum until 18 in any event before that, is only
eligible for any interest if it is to be used for "education, maintenance and
In the disabled beneficiary is
never going to be capable of managing his or her own affairs, then it would be
up to the executors to manage it on his/her behalf.
The executors need to be
extremely careful that they are not seen to favour one beneficiary over the
Does that answer
the question.? Can I assist any further?
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follow up any individual point you make
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