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Wills/Probate and Inheritance Tax
Hello, I am hoping to find someone that has experienced an HMRC Audit of Inheritance Tax paid from a will. Having been left a property in a will, it's going on about 4 months now that HMRC have been supposedly auditing the amount of IHT paid, and if any is due back. Is this a normal time frame? The Solicitor has said this…
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Executor not wishing to act
I know there's a form to fill in and we have that. However the solicitors need both executors to collect the will. I am assuming that it isn't as simple as one executor turning up to collect the will with the form already filled in? What is the process? Will the executor who doesn't want to act need to supply ID to anyone?…
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Calculating value of joint assets
I'm helping my mother to fill in IHT and probate forms at the moment, and we're trying to work out what to put in as the value of the joint assets. Obviously there is half the value of the house, but I'm stuck as to how to work out the 'goods & chattels'. I've been through their insurance policy and taken off the value of…
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Probate help
My father died suddenly, he owned the house with my mum so the house will automatically become hers. He had his own bank account but had an outstanding loan and credit card bill in his name only, the bank have taken the money he had in his account to cover their debt but there is still £1000 left owing on his loan and a…
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IHT Calculation - Beating the taxman?
In Feb 2004 my mother died and the IHT threshold was £255,000. She co-owned the house valued at £550,000 (£225,000) and had £209,000 in stocks and shares. She created a will trust with the shares for my father and 3 children. My father has just passed away. How much of the IHT can be transferred to his estate as he didn't…
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Help Required - Probate/executors
Hi, Im hoping someone on this forum can help, I have done a search but have not come across a similar situation. My grandfather recently passed away. He left a will where my father and aunt are joint executors. We understand that probate is required as his property was held solely (and not jointly with my grandmother). In…
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When a will is found after intestacy declared
In November 1996, after his death in October 1996, the widow of my ex-husband obtained a grant of intestacy and went to ground with all his assets, giving nothing to his children. They have now found the will (which their father had told them he had written but had not given them a copy) which left, as he told them, his…
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Best way to empty house after Mum's passing
Hi, I'm hoping you can help me or put me in the right direction. Our Mum passed away in November, my sister and I are executors the bungalow is mortgage free. We decided to wait until Easter before we sell the property as I live in Glasgow and Mum's house and my sister live in Kent and I don't have any more holidays from…
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Keeping monies seperate as an executor
I am acting as Executor for my late father's estate and was planning to set up a second savings account to handle the money. I called my bank as the online system was down and as soon as I mentioned being an executor was told they did not allow Executor Accounts. Is this a universal failing or is it just First Direct?
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Power of attorney
Apologies if I am asking this in the wrong sub forum. My mum currently helps an elderly friend whose spouse died last year. She is still more than capable of independent living but might not be in a year or two (or even less). Her financial adviser has noticed that she has become less rational and recommended that my…
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Insolvent Estate and how best to deal with it
Hi My brother in law died in November 2016 and I have been dealing with the estate as executor since then. Now a lot of the work has been done such as informing creditors, government agencies and Life Insurance and Pensions. The situation as it stands at the moment is the estate has no money in it at all. The Life…
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Council care home funding
My mother had been in a care home for several years but sadly passed away recently. As her house had been sold some years ago, and this money was being used to pay for her care. Once tis money reached the statutory limit , she then received funding from the local City Council here in Wales for about 3 years. Am I right in…
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Probate Forms
Seeking clarification on Section 5 . The guidance doesn't provide any example , appearing either out-of-date or even withdrawn according to some web sites ! The notes in the right column state : Reading this literally it suggests entering "No" ( and number ) in each column until the first "Yes" - add a number and then stop…
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Capital Gains Tax as an Executor...need a simple explanation
Hello, having sold my late mothers home, I now have final distributions but my solicitor mentions in final letter that as this was a second property which I legally owned, as an executor on behalf of me and my brothers, there may be Capital gains tax implications. She advises I speak to an accountant if I have concerns.…
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Executors - Didn't do anything. What now?
Firstly: Scottish Law In short. My father died 13 years ago. While we, as children, never saw the will we were informed by my mother than his half of the house was given to us. In part this was to reduce what could be taken potentially at a later date from my mother if she ever had to pay for support or for nursing home…
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Administrator ... of an Executor ... advice please
Hi I wonder if anyone could offer me some advice please. My grandmother died around 20 years ago. Although both my mother and myself were named in the will as executors it was my mother who did all the probate work and she was thus officially named as Executor by the probate registry. She duly and promptly administered the…
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My father passed away and has outstanding loan
Hi, my father passed away 4 weeks ago and left no will. He has money in his own bank account but also has a loan with the same bank. The bank are taking the money in the bank to pay off his loan but he will still owe them £1000. My question is are the bank allowed to take his money when there is a funeral to pay for, he…
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Revocation
In the event of someone dying intestate, can a next-of-kin relative write a letter of revocation in favour of someone: - is geographically nearer to be an 'executor' and more willing, and/or - who it is more appropriate to benefit from the estate??
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Help with my will - son from first marriage and now remarried
Ok, I've a son from my first marriage with whom i am very close. Hes 23 now, and lived with me and my second wife from he was 15. Hes now moved out and is living his own life, which is great. Now, i'm trying to consider wording for my will. If i had remained with my sons mother, it would be fairly natural that if i died…
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Land Registry - Tenant in Common after sole survivor registration
We are just about to sell late FIL's property, which was reregistered in his sole name after MIL passed a few years back. We have now been told by our solicitor that the Tenant in Common flag is still set against the property and there is is an administrative change needed in the way the property is being sold, adding his…
