on what figure do you become liable for death duties
Answers:
think it's £300'000
The executor of the estate should pay off debts and taxes, then divvy the remains up between the beneficiaries
If when you die your estate is worth more than £300,000 then it must come out of the estate
It is not simple; take advice if you really need to.
The limit is about £300000 but many things do not get taken into account. Transfers between spouses are 100% exempt as is joint property and joint accounts etc. If you make gifts more than 7 years before death they are exempt
And so on...
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