CAT on Grandchild Inheritance

S

SiceRnaps

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Hi, just looking for some advice. My dad passed away and left one of his rental properties to my son. My son is 15. What happens the CAT demand? Do I have to pay this on behalf of my son or can it be transferred into a fund until he is 18 and then pays the CAT? There will be rental income from this property and it states in will that it is to go into a fund until he turns 18. Thanks for help and sorry if this was asked before
 
You probably need legal/tax advice as it depends what the Will says (exactly).

It sounds like a Fixed Trust, but it might be looser than that.

Is there a lawyer involved and if so what is he or she saying?
 
Thanks for the reply, my late fathers estate is being managed by a solicitor but he is old school and is saying nothing about the situation. That's great, I will seek tax advice.
thanks for help
 
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