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INC Law
INC Law, Solicitor-Advocate
Category: Family Law
Satisfied Customers: 15144
Experience:  LL.B, LPC, LL.M, Pg.Dip, Solicitor-Advocate. UK Practising Certificate issued by SRA., DIFC Courts Registered (Dubai)
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Mothers estate is being wound up. 5 Siblings are

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Mothers estate is being wound up. 5 Siblings are beneficiaries with one being the executor. Mother loaned the executor a large sum of money over a period of months prior to her death and told him in the last few weeks of her life not to pay the money back. Mother also loaned a daughter £1000 to buy furniture and told her she had to pay it back if she mum lived but she didn't have to if she died. Mum passed away prior to either paying the monies back. Does the fact mum said they didn't have to pay it back have any effect on the estate. Her estate was not large enough for inheritance tax however could these be considered as gifts and part of the estate

Hi,

Thank you for your query. If the Mother was of sound mind and there is no question of capacity, then the amounts would be construed as gifts unless there was evidence to the contrary, such as a loan agreement or credit note of some sort.

I hope this answers your question. If so, kindly rate the answer and provide feedback. If you have any further questions, please do not hesitate to ask.

Many thanks

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