Question of the week: W died on 06 April 2025. She was resident in England & Wales at her death and all her assets were situate in England & Wales. In 2016 (ie within seven years of her death) W and her husband H made joint lifetime gifts totalling £600,000 to their three children. At the time of the gifts, they were arguable domiciled in Gibraltar, and the gifts were made from Gibraltar-based assets. H died in 2021 domiciled in Gibraltar. Do the lifetime gifts have to now be brought into account for IHT in W's estate in relation to both her NRB and the transferable NRB from H's estate?
Question of the week: W died on 06 April 2025. She was resident in England & Wales at her death and all her assets were situate in England & Wales. In 2016 (ie within seven years of her death) W and her husband H made joint lifetime gifts totalling £600,000 to their three children. At the time of the gifts, they were arguable domiciled in Gibraltar, and the gifts were made from Gibraltar-based assets. H died in 2021 domiciled in Gibraltar. Do the lifetime gifts have to now be brought into account for IHT in W's estate in relation to both her NRB and the transferable NRB from H's estate?