@robingadams assuming that you are a US Person ( Citizen/ GreenCard/ Resident for Tax purposes ),
(a) the requirement to file a 3520 is with a threshold of US$100,000. And it is per tax year. Thus for the fgure quoted you do not have to file a 3520 for the tax year 2024 ( since the amount received in 2024 is US$80,000 )
(b) For 2025 tax year and assuming that your share is US$100,000 or more , yes then you would have to file a form 3520 recognizing the cash inheritance.
(c) Note that if the landed properties are transferred to the inheritors prior to sale and then the inheritors do the sale, then you would have to recognize the sale of the property on your return -- forms 8949 and Schedule-D-- with the gain being taxed ( your basis in the property would be FMV divide by the number of in heritors ).
(d) Note that any Foreign Taxes paid on Income ( Not any other taxes ) would be eligible for Foreign Tax Credit.
(e) Because you have bank account ( s) in the UK you would come under FBAR ( form 114 at FinCen.gov ) and FATCA ( form 8939 along with your return ).
Does this help ? Is there more I can do for you ?
