Inheritance Tax - seven year rule
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joshuah
Apprentice
Joined: 12 Aug 2005
Posts: 7
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 Posted: 05/06/08 - 04:39 Post subject: |
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| Can you explain me what is the seven year rule? What is its purpose and can I try to use it in order to escape inheritance tax? Are people doing that and how are they managing estates while they are under this rule? I would like you to tell me something more, because I’ve just heard about this thing and it interests me very much |
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gay
Apprentice
Joined: 10 Dec 2006
Posts: 5
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| Posted: 06/05/08 - 03:04 Post subject: |
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| Seven-year rule most people are using in order to try to avoid inheritance tax. It seems a bit cruel, but it is reality and when it comes to their properties, than people are willing to accept almost anything. I knew a guy, who made a gift to his own daughter instead waiting for his own death, so that she can inherit it all, and they were counting on this seven-year rule, but he died within 4 years. However, I think that tax was significantly reduced, if nothing else. |
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