Capital Gains Tax on property
My uncle has recently passed away. He didn't make an official will, but does have a 'wish list'.
All of his assets automatically get past to my Nan, who is currently claiming benefits.
His wish list has requested that his house is sold and the proceed split between his 4 brothers and 1 sister.
My question is - would any capital gains tax be payable by my Nan on the sale of my Uncles house? Assuming that the sale is at market value?
Also, does anyone know if my Nan would loose her benefits by selling the house and gifting the proceeds to her grown up children?
It is my Uncles wish that the house is sold, but we don't want my Nan to loose out by selling the property and giving away the proceeds.
Any help would be very much appreciated
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