Probate & Estates
If you have been left money by someone, you may decide you do not want to inherit or you may feel you don’t need the money or that it would do more good to pass it on to someone else.
Most gifts you make will be added back into your estate for Inheritance Tax purposes, if you were to die within seven years of making them. However, when you inherit from someone else you can redirect those funds within two years of the death meaning they have no effect on your own inheritance tax position if you were to die within seven years.
We have many years' experience advising on such positions and preparing the relevant documentation so do contact us for a chat to see if we can help you too.