Sadly, a husband and wife passed away in quick succession. Both named the other as sole beneficiaries in their wills. Without any children of their own, distant relatives, who didn’t know the couple well or in some cases at all, stood to inherit a £1.2m estate made up mostly of cash.
But the surprise windfall also came with a less welcome surprise – an Inheritance Tax (IHT) bill that needed to be paid before the estate could be released.
Uncomfortable taking on any personal liability to pay the tax bill, Tower Street Finance worked with one of the beneficiaries to unlock the estate using its IHT Loan product.
To find out more about the IHT Loan click here.