Burden of tax, costs & charges in a will

Question 1

What is the default position regarding the burden of IHT?

Answer 1

IHT on individual legacies paid out of the residuary estate

(Unless otherwise stated, eg. ‘I give my house to A subject to tax’)

Question 2

What is the default position regarding the burden of costs associated with a specific gift?

Answer 2

The beneficiary bears the costs of eg. transport of a specific gift

Unless otherwise stated in will (eg. ‘free of costs’)

Question 3

What is the default position regarding a mortgage passed under a will?

Answer 3

Mortgage debt falls on the beneficiary of the property subject to the mortgage

Unless otherwise stated in will (eg. ‘free of mortgage’)