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