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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 69508
Experience:  Over 5 years in practice
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I am likely to be getting some inheritance soon do I need to

Resolved Question:

I am likely to be getting some inheritance soon do I need to notify the benefits people or do the probate people automatically do that.
Submitted: 1 year ago.
Category: Law
Expert:  Jo C. replied 1 year ago.
Hi.
Thank you for your question. My name is ***** ***** I will try to help with this.
You need to notify.
The probate people may or not may not but ultimately the obligation is yours I'm afraid.
Also, never rely on anybody to do anything even if it is something they should do.
Can I clarify anything for you?
Jo
Customer: replied 1 year ago.
It is inheritance from my father who had told me and my siblings to give 10% of our share to our children so do I notify of the amount minus the 10% or the amount before it is given to the children
Expert:  Jo C. replied 1 year ago.
You need to notify the full amount if it will pass through your account.
There is no way around that.
Customer: replied 1 year ago.
Thank you and do I get taxed on it
Expert:  Jo C. replied 1 year ago.
I am not a tax specialist.
You would probably need to ask another question on that point in our tax department.
I don't think that you do unless it is very high but not my area I'm afraid.
Jo C., Barrister
Category: Law
Satisfied Customers: 69508
Experience: Over 5 years in practice
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