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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34276
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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How much do you charge . My daughter received an inheritance from my late siste

Customer Question

How much do you charge for advice. My daughter received an inheritance from my late sister. My daughter now lives abroad with her husband and has put this inheritance into their joint uk bank account. Unfortunately the couple are separating and she wants to put this money into a different account, possibly in my name, to look after for her. I can prove to the bank that the money is genuinely hers - I have the will. I am also concerned that if anything happens to my husband and I 40 per cent of this money will go in inheritance tax.
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
In which country will any divorce take place?
Clare
Customer: replied 2 years ago.

Assuming there is a divorce - it's early days yet, in Holland

Expert:  Clare replied 2 years ago.
Hi
How long have they lived there?
Clare
Customer: replied 2 years ago.

They've lived in Holland, with their two young boys for 7 years

Expert:  Clare replied 2 years ago.
Hi
Moving it into an account in her own sole name would be wise.
Moving it into an account in your name is ***** ***** and will not achieve anything.
It will be clear that the money came into the Joint Account and should therefore be part of the assets for consideration by the court - placing it in your name would simply increase potential legal costs and ensure that your daughter loses the trust and sympathy of the court.
However with regard to your actual question provided there is evidence that the money in fact belongs to your daughter it will not cause a problem with Inheritance tax.
I hope that this is of assistance - please ask if you need further details
Clare
Clare and other Law Specialists are ready to help you
Customer: replied 2 years ago.

Grateful for your reply. The reason I suggested that the money is put in my name is ***** ***** Dutchlaw a couples assets are split 50/50

Customer: replied 2 years ago.

I didn't realize that you are in USA. Am I sensible to be asking you ghis question

Expert:  Clare replied 2 years ago.
Hi
The site is the US but I myself am a solicitor in the East Midlands.
I am aware of the divorce laws in the netherlands - but since the monies are already documented "hiding" them will not assist
clare