paulskinback

I've just found out that my grandpa gifted all his belongings to myself and my brother in 1981. He made out a will and it was signed by witnesses etc. He gifted it because he wanted to avoid inheritance tax of around 40% which you avoid if you gift all your possesions and live a further 7 years (British law)

So this has happened, he has survived 7 years. However, he was told he couldn't gift his possesions to us because we were not over 18 (I was born in 1980) but his will still stood as giving everything to myself and and my brother.

I have found out that in the last week, he has sold his house and wants to give us the £196,000 ($343,000) and is seeking legal aid to find out if it is subject to inheritance tax or capital gains tax (UK law)

The lawyers that he lodged his will with are saying that there is no record of his will, but it may be in storage. It seems very complicated but i'm not very keen on the government taking 40% because of potentially lost documents

What rights do we have? At the end of the day, he just wants to provide us with with a good inheritance that he can see we put to good use, while he is still alive, and see that the fruits of his labour have provided for the ones he loves.

I would like to know if anyone knows what legal standing we have, if any

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