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Probate tax on legacies
Practitioners are reminded that unless otherwise directed in a will, legacies should be paid net of probate tax.
In the case of a specific legacy, the executors should be put in funds with or reimbursed by the beneficiary before vesting the relevant property.
When taking instructions for a will, it may in some cases be useful to consider charging probate tax on the residue, particularly in the case of smaller legacies.
