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Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Property Law
Satisfied Customers: 2917
Experience:  Dual qualified Solicitor and Attorney
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About fifteen years ago my eldest sister Anne received her

Customer Question

About fifteen years ago my eldest sister Anne received her early inheritance of the farm, the machinery and all the outbuildings. (Some of those and a field were due to come to my middle sister Sue and I). Of course agricultural land etc is zero IHT rated.My mother died on 1/1/19. Sue and I will be inheriting my mother’s house and thus will get funds once it is sold.
Contents and any cash is to be divided three ways between us.
There are nine cash bequests to be made.
The main bulk of the estate is the house with the two other additional sizeable chunks of land.Outcome is that as a big chunk of inheritance tax has had to be paid up front, therefore there is no cash left.Now grant of probate has been received Sue and I are able to sell the house and we (all?) need to pay remainder of IHT.As IHT is due on the entire estate, does this mean that payment of this has to come from money raised (ie house sale only). In essence, is it correct that Sue and I will end up paying IHT on Anne’s portion of the contents (as there will be cash coming in from the house sale), and also on the additional sizeable chunks of land and paying out the bequests, and Anne will pay nothing?Please can you enlighten me as to what will happen about this. Surely Anne should be making some contribution?
JA: What documents or supporting evidence do you have?
Customer: My mother’s will. Probate just been granted.
JA: Anything else you want the lawyer to know before I connect you?
Customer: This is in the UK by the way.
JA: Estate laws vary by state. What state are you in?
Customer: Essex
Submitted: 4 months ago.
Category: Property Law
Customer: replied 4 months ago.
Have I just wasted £5?
Expert:  Jeremy Aldermartin replied 4 months ago.

Hi thank you for your message, taking the view that Anne would be receiving a portion of the subsequent funds raised from the sale of the house then the IHT should be split three ways between the recipients including Anne. I hope this helps, if you can please accept my answer and rate me 5 stars (in the top right of your screen) then Just Answer will credit me for helping you today.