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Amount left in a Will.

Discussion in 'Wills and probate' started by Stephen49., Nov 23, 2023.

  1. Stephen49.

    Stephen49. LostCousins Superstar

    Dear members,

    I have often seen in a persons Will the words "Not exceeding £25000", for example.
    I would be grateful if anyone could explain what this means.

    Thank you in advance for your help.

    Stephen Sherlock
     
    Stephen49., Nov 23, 2023
    #1
  2. Stuart

    Stuart LostCousins Member

    The taxes on estates were at times charged at different rates for different sizes of estate. One example is the Customs and Inland Revenue Act, 1881 which had thresholds at £100, £500, and £1,000. So a declaration had to be made of the band the estate's value fell within, hence "not exceeding £500". I'm sure those thresholds were varied, but I don't know how or when or what other laws might also have applied only over a certain limit.
     
    Stuart, Nov 23, 2023
    #2
  3. Stephen49.

    Stephen49. LostCousins Superstar

    Stuart, many thanks for your explanation. I fully understand the meaning now.
     
    Stephen49., Nov 27, 2023
    #3

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