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  1. #1

    Inheritance help

    Hi there,

    My mum is due to inherit some money from Europe following the sale of my dear old granny’s home.

  2. #2
    My mum is fortunately already mortgage free. She currently only works part time and is due to retire in 4 years time.

  3. #3
    Should she get the money ‘over here’ before brexit and get it invested? Or should she invest it there?

  4. #4
    Brexit or not, you haven't given us any indications that she is going to retire to Europe when retirement happens in 4 years time, so there seems little point in her building a portfolio of investments on the continent.

    She can instead invest it with a UK-based investment provider in investment funds which hold shares and bonds and properties all around the world. Saving or investing it in UK products rather than overseas also allows her to make use of her tax allowances (max out her pension, ISA etc). She couldn't do that if she was investing the money in a foreign savings or investment product in a country where she isn't tax resident.

    However if she is not UK domiciled and the amount is substantial, it might be useful to keep it overseas in terms of future inheritance taxes when she eventually passes on. Just for completeness If she's non-UK domiciled but would be considered domiciled in the future because of living here a long time, she could consider putting it into an offshore trust to protect against UK IHT, but that's only useful in certain situations and you haven't given us any indications that they apply, other than she had a mother living overseas.


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