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IHTM35234 | the Inheritance (Provision for Family and Dependants Act) 1975: net estate for I(PFD)A 1975 purposes

From HM Revenue & Customs · Inheritance Tax Manual

The property that may be affected by an order is the deceased’s ‘net estate’ as defined for the purposes of the I(PFD)A 1975. This includes

  • the deceased’s net free estate (the deductible liabilities include testamentary and administration expenses and any IHT payable out of the estate on the deceased’s death)

  • property the deceased had power to dispose of by will (otherwise than by virtue of a special power of appointment)

  • nominated property (IHTM15101) and donationes mortis causa (IHTM14900) (at a value which may be net of IHT on that property on the death)

  • if the court so orders, the deceased’s severable share of joint property (IHTM15081) (again taking IHT on that share into account)

  • any money or property which the court may require a donee to pay under s.10 I(PFD)A 1975

  • any IHT repaid to the personal representatives under IHTA84/S146(2)(a)(i) or (4)