Topic: whether payment made by beneficiary to settle litigation over a disputed will was a deductible liability of the deceased

Silber v HMRC [2012] UKFTT 700 (TC)

Wills & Trusts Law Reports | January/February 2013 #126

By his will dated 12 May 1997, Martin Moses Menachem Lerner (deceased) divided his net residuary estate into ten equal shares between the appellant as to nine shares and the Chay Charitable Trust (CCT) as to one share. Subsequently, the deceased gifted £60,000 cash to the appellant and transferred in excess of £400,000 worth of quoted shares to the CCT. Following the deceased’s death on 21 October 1999, a disappointed beneficiary under a former will disputed the validity of the last will on the grounds of testamentary incapacity, but this was settled on 22 October 2001 on terms tha...