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shay
Apprentice
Joined: 07 May 2005
Posts: 14
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 Posted: 08/18/07 - 09:48 Post subject: |
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| Few months ago I have been diagnosed with cancer. Therefore I have started to organize my things towards people that I love the most. I heard that certain amount of money have to be paid on every inheritance by me or by the ones that I will live my belongs. Can anyone help me to understand this since I do not have sufficient knowledge in finance and economics? |
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jasper
Apprentice
Joined: 11 Nov 2006
Posts: 20
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| Posted: 09/17/07 - 01:09 Post subject: |
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| I am very sorry about the situation you find yourself to. I think that you are very brave and what you are trying to do is very noble as well. If you are planning to leave some of your wealth to the others you have to know that the state will most probably ask of you (or the ones who will inherit your wealth) to pay a tax, either for the estate or finance you are leaving. On the other hand it is possible to give things away without paying taxes. Since you have not stated where you from you have to find out what things can be given without taxes paid. Here in UK gifts given to a husband, wife or civil partner then gifts given to some national organizations and universities are tax free. |
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