-
Property in Trust
Don’t know if anyone can help & sorry if it’s been asked before but I couldn’t find anything. When my aunt passed away 20 years ago, she left her flat in trust that my uncle could live in it for the rest of his life. He has recently passed away & I will be due to inherit but I’ve read some stuff that I or the trust may…
-
Share buyback on estate return
Hi, I'm acting as one of the executors on my late mother's estate. I'm filling in a tax return for the administration period and wanted to know whether a cheque we received from Std life Aberdeen for their recent share buyback is counted as a dividend, capital gain or neither. I've checked the pdf on their website but…
-
Survivors' Report?
I've reached an age which makes me think more about what would happen after I'm gone. I'm looking for something like the old Quicken Survivors' Report which covered lots of that stuff very well. Unfortunately I don't have that any longer and I am wondering if there is some other software which will collate information into…
-
Death and Wills
Hi Chances are this question has been answered somewhere but the forum has a lot of post so sorry if It has already been posted. When a person dies, exactly what happens to their estate/money etc. How does the bank or or insurances know to out a hold on things if no will has been made. The scenario is this. My uncle died 3…
-
Inheritance From USA
My Father has recently been left a sum of money by a relative who had emigrated to the USA. As part of the process he has been contacted to advise that he would be responsible for tax payable on interest accrued on the amount. Due to this he has been asked to complete a W-7 form in order to get an ITIN ( Individual…
-
HMRC Added Big Penalties to Deceased Estate - Will The Want All The Charges?
A relative died 15 months ago. She was a bit of a recluse who was estranged from her family. We are her first, nearest and just about only family, and have only learned of her passing 2 weeks ago. This week, we gained access to her house that has been closed up since she died. In the mountain of post are demands from HMRC…
-
Council funded adaptation
Does anyone have experience of adapted (private owned), house - says house must be kept for 10 years after funded adaptations, I understand this and the reasons, however, both house owners have now died. As I see it options are Sell house pay council full amount of adaptations Keep house and rent out for the remaining…
-
Inheritance advice pls.
Hi Everyone, I'm 46 and have young family. I've been thinking if something happens to me and as we're living with zero savings my partner and children would be left with nothing. This is a horrid thing to talk about but i would like to ensure that my inheritance from my parents which will be healthy is somehow passed to…
-
Deceased owes Money
My Mum-In-Law passed away recently and I am the Executor, she leaves behind 2 Daughters, one of which is my wife, she has approx 9k in the bank but has numerous credit cards with approx 6k on each of them. Being the executor, do I need to inform the credit card company that we can make some payment towards the debt but not…
-
What are a daughters rights when mum dies
Asking for a friend. Long story short, siblings do not get on. She wants to go to the funeral directors and say her good byes to her mum, she is badly ill and cannot face the arguments that will happen if she goes to the funeral. She contacted the funeral directors and they said that was fine. They have just phoned her up…
-
Distritc Valuer disagrees valuation
Hi, deceased father's estate....Sister is executor. Employs solicitor for IHT/probate. "£2500 - £3500" ..her/sister's choice/I pay half Solicitor says get 3 valuations for house... £325 sale/£350 market. A month ago solicitor confirms that IHT figure has been agreed. Solicitor goes for probate (should have been done at…
-
Land registry
My partner died 2 years ago I was registered as a joint tenant the executors have refused to transfer the property to me unless I pay them £80,000
-
funeral cost
My dad has recently passed away, he divorced mum so its down to me and my brother to arrange the funeral, i have never done anything like this before, and am looking for some advice as to how much it should cost. i want to give dad a good send off, but i dont want to be ripped off. we are having a burial, there is no…
-
PO Box advice for deceased estate notice
Hi, I was wondering if anyone could advise on the best course of action to get a PO box for the correspondence of a deceased relative's estate notice? I've looked at Royal Mail, but wondered if anyone had any experience/advice on any others out there? Thanks.
-
Property held in trust and first time buyer!
Are you still classified as a first time buyer if you have been left a share of your deceased dad property in a trust? Mum owns the other 50%. The trust ends on both death and you will only benefit when both parents died. It is an immediate post death trust. I understand if your name is added to the deeds then you do not…
-
Friends dad died, can they live there until it’s sold
I’ve got a quick question. I’ve had a look on google, but I can’t find a straight answer. A friends dad has died that they have lived with for many years. The siblings are pushing for the sale, which is fair enough, but can they live there until it goes through? Relatives are telling them to go to the council and get a…
-
Help with IHT205 form and gifts
Evening all, a little advice on filling in the IHT205 form and how to declare gifts. My dad is applying for probate for his father, who has a remaining estate of around £70,000. In 2014, my dad was given around £6000 by his father as a gift and £5000 to put away for future funeral costs, as the signs were at this stage…
-
Beneficiary is under 18
I hope someone can clarify. Our 15 year old son is going to inherit direct as as a beneficiary from his Aunt's estate and via a DoV from my mother's estate. We are told children cannot inherit until he is 18. We can pay money into his junior coop account as I am still on it as an adult signatory. However what happens if…
-
Confused re Inheirtance tax
My Father is now in a care home and I am in the process of selling his house worth just over £1m. When he passes is inheritance tax not payable on first £325k AND main residence allowance of £125k even though he won’t actually own the house when he dies. His will leaves everything bar some cash gifts to his 3 children. In…
-
Residuary beneficiary money payed to non-UK bank account
Hello My brother and I are using a UK high street bank as the Executor of our late parents’ estate. The bank has a UK Executor Account for the paying and receiving of monies during probate. Once we have completed the whole process and the residuary beneficiary money is finally ready to be equally divided and paid to my…
