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JGM, Solicitor
Category: Scots Law
Satisfied Customers: 17054
Experience:  30 years as a practising solicitor.
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What it is my mother in law her life passed away. Her 3 sons

Customer Question

Hi what it is my mother in law her life passed away . Her 3 sons owned the family home which was left to them by their father when he died at that time 9 years ago they signed a Deed of Agreement allowing my mother in law liferent.Now she has passed away solictor is saying that property has to be included in her estate as she had a legal interest in it. Is this correct?
JA: Estate laws vary by state. What state are you in?
Customer: Scotland
JA: What documents or supporting evidence do you have?
Customer: We have the Deed of Agreement and are still waiting for the title deeds of the property as one of the sons bought the other brothers 1/3 share
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: dont think so no
Submitted: 12 days ago.
Category: Scots Law
Expert:  JGM replied 12 days ago.

Thanks for your question. I am a solicitor in Scotland with 35 years of experience in private practice and I hope that I can help you with your question today. Let me have a quick look at your question and I will either give you an initial answer or ask you for further information. I aim to respond as quickly as I can but sometimes I may want to take a little time to consider your question so as to give you the best possible answer.

Customer: replied 12 days ago.
Thank you
Expert:  JGM replied 12 days ago.

HMRC consider that a liferent does have value and may have to be included in the estate inventory, yes. In some circumstances, where a person has an interest in possession in, or is treated as having an interest in possession in settled property, they are treated for Inheritance Tax as if they owned those assets personally. You have to find out from the estate solicitor whether and why this estate falls into that category. It may be to do with the Deed of Variation but the solicitor should be able to give you a full explanation.

Expert:  JGM replied 12 days ago.

I hope this helped you today. Please do let me know if I can clarify anything. I am always happy to help. You are always welcome to ask a follow up question if it will help you further.