Experience with gifted money that comes from inheritance?

[stephaniezinoni]

My mum kindly wants to gift us £50K which we will use towards our deposit. I’m aware of potential tax we would have to pay in future but my concern is about the fact it’s from money she inherited 15 years ago from her mum’s estate. This was in a different European country. Is she going to have to prove where she got the money from? I don’t want to add stress for her and don’t think she has kept any paperwork. Has anyone experienced this?

We have given our daughters money to buy their first properties. The reason we were able to do it was because of inheritance, but we didn’t specifically use the inheritance money as we also had other savings.

We had to sign something for the solicitors and just said the money we were giving was from accumulated savings over a period of years.

Having said that, when my nephew bought his first house a few years ago, his solicitor was much more rigorous. My sister (his mother) was giving him some money, which she had got from inheritance and the solicitor wouldn’t accept her statement but insisted on a letter from the executor, confirming the funds. Fortunately I was the executor, so was able to do that very easily.

I gifted money to my dd which had originally come from an inheritance. The solicitor wanted a copy of the will, grant of probate, and copies of the bank statement showing the money paid into my account and every account it was moved to/from.

Logically the solicitor will need to ask for documents like these as the money could be proceeds of crime and they could be audited and lose their licence if the checks are not thorough enough. The rules are more rigorous now than even a couple of years ago so people who have experience from a while ago won't have been asked for as much. If it's from overseas everything will need to be officially translated.