-
Deaths, Funerals & Probate Board Sticky
Relevant Forum threads you may find helpful: * Introduction to this board * Useful references * Guide discussion: Probate: How to do it yourself If you've spotted any other threads on this board which you think should be highlighted, please do let me know. Useful content from MoneySavingExpert.com: * Guide to probate *…
-
Buying out an Interest in Possession Trust
Could I please have some advice re the following scenario. A house is owned by husband and wife as tenants in common. The wife dies leaving her half of the house to the husband in an Interest in Possession trust. On the death of the husband the house will pass via the trust to a single beneficiary. The husband wishes to…
-
Looking at buying a fire/water proof box for my will etc,any recommendations?
Looking at buying a fire/water proof box for my will etc,any recommendations? Thanks
-
Deferred Payment Agreement versus House Sale
Is it better to go for a Deferred Payment Agreement with the local authority or to sell the house? My father is now permanently in a care home and we have to source the funding. He has £25,000 in savings and a house worth £700,000 (no mortgage). Are we better to sell the house and pay directly for the care home (investing…
-
Executor changed will without consent of other executor
MrsT is co executor of her sisters will. The other executor is one of the deceased sisters children. The will provides a fixed sum from the estate to be paid to each of the 3 children with any balance to be given to charity. The will does state that if one of the children falls into hardship then a further distribution…
-
Daughter left 50% of property what is inheritance tax liability
My brother died last year midst divorce. He left his estate to his daughter as he had made a settlement with his wife ( although it hadn’t gone through as he died soon after ) So the property was owned as tenants in common so his half will go to his daughter. The daughters inheritance will be worth about £364000 after all…
-
Capital gains tax when selling house as part of estate
Hi there. I'm the executor for a relative who passed away last year. I've recently sold their house as part of the administration of the estate, and there is capital gains tax to pay on the sale. When deducting legal costs and estate agent's costs from the capital gain, does anyone know whether I can also deduct the VAT…
-
Grant of Confirmation
Good afternoon, I am in the process of completing the C1 Form and with the aid of this site I am almost ready to venture down to the Sheriff count to submit it. I am dealing with my Mother in Law's estate and it seems very straightforward. I only have two issues that I need to resolve. Any advice would be greatly…
-
How long for HMRC to respond to tax on a Simple Estate
As per https://www.gov.uk/probate-estate/reporting-the-estate the executor of my late relative's estate (having sold all of the assets to cash) will soon be reporting the tax owed on this 'simple' estate by writing a letter to the HMRC with details of interest and dividends received into the estate during the…
-
partially disclaiming a gift in a will
I'm in the process of dealing with my late father's estate which contains a house, money in banks and investment funds. In addition to my father's NRB and RNRB all of my late mother's NRB and RNRB are available so there are no IHT liabilities. My father's Will gifts all of his residual estate (basically everything) to…
-
Probate - how long?
Hi, I know it's been asked before but on this cold and wet afternoon I've nothing else to do but think..... Probate submitted end of June, straightforward, just bank accounts, how long can it reasonably take? Apologies again for repetition, just wanted to hear some real experiences (recently) thanks
-
IHT Allowances and forms required for probate
The scenario I have is fairly straight forward I hope. My father passed away late last year and everything was left to my mother, including the house. Probate wasn't applied for. My mother has now recently died and the will leaves everything equally divided between the children, including the house. The house is worth…
-
Online probate application - estate valuation & query re transferable nil rate band
Hello all. My mother has passed away and I am dealing with probate application on behalf of my brother and sister (who were also named as Executors but are leaving it up to me). I have two queries - probably rather naive but here we are... 1. The online form looks very simple. My mother sold her house when she went into…
-
Capital Gains Tax on gifted property - Help!
Hello members, I’m posting in the hope that someone can help with my complicated circumstances. My mum sold her home in 2002. Her solicitor was a family friend and as she’d become fixated on the idea that her home could be taken if she needed to go into hospital, she transferred the funds from her old house and bought the…
-
Pension, trust fund help!
Good afternoon everyone im new here, and no idea what time doing!! My sons father recently passed away unexpectedly , we were separated, on good terms and he had a great relationship with our son. He paid regular maintenance, had our son every other weekend and half the school holidays and contributed to all school trips,…
-
Transfer of unused IHT
Hi Sadly my surviving parent has just died. When my other parent died a few years ago, all assets were transferred to my surviving parent and the value of those asset were under £325k. I understand that the unused IHT relief of £325k can be transferred to my other parent. What I am not clear is whether i need to complete…
-
Applying For Probate Online - Technical Problems
I applied for Probate on Monday and the application went through fine. I paid the online fee at the end and received an email saying my payment had been successful. However, I then expected to click through to a different page on the website advising me what documents to send and with a coversheet etc and to receive maybe…
-
Probate - a question re change of circumstance
Hi there, I sent off my probate application for my late father recently. We had a couple of valuations for his house however since sending it off we have been advised that due to the large garden, there is potential to put another property on the land. What happens if we decide to go down this route? The estate agent has…
-
Who is responsible - individual or estate?
Scenario: My cousin bought a car from my Dad for £2000. The agreement was to pay £200 a month until the cost was cleared. However, before clearing the cost, they passed away. So there was £1000 left still to pay. The son of my cousin took ownership of the car. We agreed that they could pay off the remaining £1000 at a rate…
-
Possible to claim transfer of unused NRB if Executor and Will cannot be located?
Mother-in-Law died recently and her estate is around £35-40k over NRB. There will be no IHT payable as she will have RNRB of £175k downsizing allowance from property sold to fund care home fees. I would love to keep things as simple as possible and avoid IHT400 if we can but we cannot claim it as an 'excepted' estate as it…
-
Deceased self assessment questions
Hi, In November 2022, a relative passed away and left a valid will with a solicitor as the executor. The relative had three properties, one was their main residence, one had a tenant and the other was empty. The executors continued with the rental income untill the property went on the market in July/August 2023, when the…