Hi my dad (UK resident) passed away in January 2024. Mum is the sole inheritor named in his will and she is the executor of his will. He left £50 in his bank account; some art works probably not worth more than 5-10k in total; some personal items, gold cufflinks. Say 15k in total. No probate required to get access to his bank account obviously. He also had an insurance policy from canadian insurance company worth 440k gbp which he had named irrevocable beneficiaries (me and my 2 siblings) in 2016 (ie more than 7 years) . The Canadian life company has already distributed this to us as named beneficiaries when we produced the death certificate, no probate requested. In Canada as I understand no IHT and as long as beneficiaries are named the proceeds pass to them, not to the estate of the deceased. As this was a Canadian policy it was not held in UK trust but the effect seems to be the same. So: is this policy part of the estate or not? If not, then I am assuming no IHT400 to be filled out and the estate is exempt due to spouse and below NRB: if yes, does the fact that he named us irrevocably and therefore his estate had no rights to the proceeds mean that this is a PET – and therefore no IHT400 etc etc . Can’t seem to find an answer. Presume if it is part of estate then we have to pay tax @40% of 115k. HMRC has no guidance that I can find on this. Trying to figure out whether it is part of the estate and in either case what ppwk do we have to fill in? pointers welcome.