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Good day,
In calculating the Death estate, why wasn’t the 20000 that wa left to the niece deducted from total, seeing that it was left in his will?Have you worked through the lectures and notes for IHT before attempting the practice question as your question appears to show a fundamental misunderstanding of how IHT works – the only bequests that would reduce the value of the chargeable estate are EXEMPT transfers and the only exempt transfers in our syllabus are those made to a spouse or civil partner – as shown in the answer.
What you are suggesting (I think) is that ANY specific bequest made in the will would reduce the chargeable estate – this could then make an entire estate exempt and no IHT would ever arise when an individual died!
Please tell me if I have misunderstood your question.
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