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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 11544
Experience:  30 years as a practising solicitor.
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My mother left the house on her death in 1999 in a trust fund

Resolved Question:

My mother left the house on her death in 1999 in a trust fund brother to live in and upkeep life time rent free. Then the property was to be sold and shared between the remaining two children only Property worth £280000.00.
The brother that lived in the house died in November leaving a will , and all his proceeds amounting to £127,345.00 to go to various charities and his two nephews & two nieces.
Should the inheritance Tax of the House and his will be put together, or kept separate.?
Should we be liable solicitors cost to date of the life tenant inc VAT
Submitted: 2 years ago.
Category: Law
Expert:  JGM replied 2 years ago.
Thank you question.
As the property was I trust it doesn't form part of the brother's estate so the issue of inheritance tax doesn't arise.
The cost of the brother's estate are paid the money he left. The cost of the trust and the house and it's disposal are met from the trust, typically from the sale proceeds of the house.
Happy to discuss further.
Please leave a positive response so that I am credited time.
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