# Probate/inheritance



## powelly (Aug 9, 2007)

We have a fair mix of people on here so I was hoping someone might be able to help me understand a few things. My wifes great aunt died back in November leaving a rather sizable estate to which my wife is a beneficiary. The solicitors/tax advisors she had been using for the past 30 years are the executors of the will and to be fair they have been very good so far, we are now at the point that all of the investments, savings, bonds etc have all been valued and inheritance tax has now been paid, the solicitor is now applying for grant of probate, the house is also just about to go to market in sealed bid auction. Does anyone no how this part works, do you pay the inheritance tax on the house before it is sold or after.


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## Avanti (Jan 17, 2006)

The proceeds will go to the estate value, depending on the size of the estate dictates if IT is to be paid


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## amiller (Jan 1, 2009)

powelly said:


> do you pay the inheritance tax on the house before it is sold or after.


The executor pays all taxes before the net value of the estate goes to beneficiaries.

In this case, the IHT will be paid once the house has sold and the amount of IHT confirmed. Obviously the solicitors will take the tax off the gross value of the estate before the net amount is paid to the beneficiary.


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