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Hi
In my relative's recent will, I have been left a freehold property. The wording includes the phrase "subject to tax". (Not "subject to "Inheritance tax") Prior to my relative's death I had been given to understand (not in writing though) that the bequest would be free of IHT, which would be borne by the residuary estate. The estate has ample liquid funds to pay IHT. So my question is essentially, does the wording of the will mean the bequest is subject to IHT or not? Thank you for any advice or illumination.
In my relative's recent will, I have been left a freehold property. The wording includes the phrase "subject to tax". (Not "subject to "Inheritance tax") Prior to my relative's death I had been given to understand (not in writing though) that the bequest would be free of IHT, which would be borne by the residuary estate. The estate has ample liquid funds to pay IHT. So my question is essentially, does the wording of the will mean the bequest is subject to IHT or not? Thank you for any advice or illumination.
