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Last year my elderly great-uncle was severely injured in a gas explosion at his house, and despite a rescue attempt by his neighbour, he died the next day. My mother was the main beneficiary of his estate which was valued at a figure well below the (then) inheritance tax exempt amount of £275,000.
Last year my elderly great-uncle was severely injured in a gas explosion at his house and despite a rescue attempt by his neighbour he died the next day. My mother was the main beneficiary of his estate which was valued at a figure well below the (then) inheritance tax exempt amount of £275 000.
The house was quite badly damaged in the explosion and a surveyor valued it at £110 000 which was returned as the probate value. The surveyor estimated that in its original condition before the accident it would have been worth around £145 000. Since the accident a considerable amount of repair work has been carried out on the house. We estimate that the insurance company has spent around £15 000 restoring it to its original state and my mother has spent an additional £20 000 on updating and improvements. An estate...
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