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Showing results for tags 'inheritance'.
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It has been suggested to us that we should "establish a joint life second death term assurance policy" for the amount that we might be liable for IHT should one of us die before we could be considered to have broken domicile with UK. Does anyone know where we could get one of these from? Does anyone have any experience? All advice gratefully accepted. Julie
Hi, I am trying to get some advice as an Australian resident who will be receiving an inheritance from the UK. 10 yrs ago my sister ( with dual residancy Aust/UK) died leaving her property in London to our father ( who is an Australian resident only ). At that time the death tax was paid. The mortgage for the property was set up from a bank on the isle of mann and over the last 10 years the rent from the property has paid out the mortgage. Nothing left. Our father is now the outright owner of both the property and the bank account. He is of ill health and prepairing to leave the estate to my brother and I ( Australian residents ). How best should we structure the handover? What tax's need to be paid? Advice much appreciated. Thanks in advance Cam
One thing I hope won't come any time soon is the death of my parents. However, when it does, the proceeds from their house will be shared between myself and my brother. I'm hoping to be in Australia by then. Does anyone know rules governing inheritance? Hopefully it's not all treated as capital gains. Any ideas? Thanks, Spock.