Overseas Inheritance - What are the rules?
Discussion
I have a relative who has lived in Canada for 50+ years, and she is currently sorting out her will.
As she has no children and the sole beneficiaries of her estate would be myself and my sister, she has asked me to find out what the rules are around inheritance tax, bringing the funds into the UK, etc.
She said there would be an amount of the estate to be paid in Canada, but she wouldn't want it to be paid twice due to tax in this country. Is it dependent on the value of the estate? How would it work with it being split 50/50 between me and my sister?
Any advice would be gratefully received.
Thanks
As she has no children and the sole beneficiaries of her estate would be myself and my sister, she has asked me to find out what the rules are around inheritance tax, bringing the funds into the UK, etc.
She said there would be an amount of the estate to be paid in Canada, but she wouldn't want it to be paid twice due to tax in this country. Is it dependent on the value of the estate? How would it work with it being split 50/50 between me and my sister?
Any advice would be gratefully received.
Thanks
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