I was due to inherit a share of a £1.2m estate and took out a loan for £200k over a six-month term, assuming my inheritance would come through by then but was left panicking about making the repayments.
Mum had a lot of her money in share portfolios so when she died there wasn’t a lot of cash. Because the share portfolio companies won’t release funds to pay IHT, I was stuck with a bill and no means to pay until the inheritance was released.
Dad died and there was an awful situation where his second wife refused to move out of the family home. As the executor I was under pressure because until we sorted the house the estate was effectively locked.