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Valuations for probate
A relative has recently passed away leaving a will naming only child as beneficiary / executor. The total value of the estate will be around £50k, so well below any inheritance tax threshold. Just wondering how much detail(ie items/values) needs to be declared on the tax form for probate?. The main item is a small property…
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As an executor / trustee, can i be forced to reserve powers?
Hi all, I hope you can advise. My mother and brother are fellow trustees and executors on my father's will. They have, for several months now, refused to let me have adequate paperwork yet are trying to force me to sign paperwork for the grant of probate without adequate information. They have threatened me a number of…
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Is my uncles will scenario complicated?
Hi guys, Looking for a bit of help on behalf of my uncle. He has asked me to give him a bit of help before he makes an appointment with a solicitor to discuss this so he is not going into appointment with no understanding of the situation. Before I start, my background is financial services. I have a very basic knowledge…
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Property left in trust
The property is left 50% to one person and the other 50% between 3 others in a trust. I believe all 4 names are to be added to the deeds but only 3 have 50% of the property held in a trust. If for instance the property is sold in 10 years do the 3 who share 50% get any of the equity gained in the last 10 years or only…
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Gifts exempt IHT
In addition to the various gifts exempt IHT(£3k pa, £250, etc etc) There is provision to give away funds where your income exceeds your expenditure. Now I always understood that to mean if you had income of, say, £50k pa and outgoings of, say, £30k pa you could give away £20k which would be IHT exempt. Other than the £3k…
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Re probate
Hi Guys, I am familiarising myself with PA1P form. In case I go first. My wife is to be executor, and the two kids are as well. Is it better to just put my wife as only applicant in Q1 and put the kids in the box with C as powers removed? OR should I put all three as applicants in Q1 and leave the box abc empty? My wife…
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Haphazard gift giving
My mother left an estate of over £500,000. Over the last seven years of her life, she consistently gave a minumum of £14,000 per annum to myself and my sister (some years giving more to one of us than the other). She had a vague understanding of inheritance tax allowances and considered that to be comfortably affordable…
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Witholding payout to beneficiary
Are there any circumstances where the executor of a will can withhold/delay the inheritance money being paid? For example, if the beneficiary was a drug/alcohol addict and the money would likely be used to fund their addiction. The concern is that they could even kill themselves by overdose/abuse if they were to come into…
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Inheriting an item
Hello, I'm new on this site and live in England. I'm just doing a bit of research on wills and inheritance etc and I can't seem to find anything regarding how long a person would have to wait to receive an item left in an inheritance. My uncle has a painting that he would like to leave to a friend. Assuming that this…
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Amendment to wills
Just after a bit of reassurance hopefully. Wife and I had discretionary trust wills drawn up 12 years ago,simple affairs but probably into IHT territory. I made the mistake of letting the solicitor be appointed as administrator and legal agent which I now want to remove,is it sufficient to put a note with our wills signed…
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Making a will, what we need to know?
My dad has a modest amount of savings and wants to ensure i get it without complications when the worst happens. I believe the term is a simple will. What is this likely to cost in total? Is there a charge for the will and also the solicitors time? When the worst happens and it comes to claiming do they charge and how do…
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Inheritance
mother in law recently passed away, father in law already deceased. My husband is also sadly deceased. Should his (our) children inherit what would have been his share of the estate along with his siblings? there was no will left. Thanks
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inheritance tax allowance
HI I am in the process of calculating inheritance tax. My uncle left an estate, valued at £720,000. There are three beneficiaries, two are me and my brother (his nephews) and the other is my late uncle's brother. I am completely confused with the inheritance tax allowance. I have a few questions: 1. Is the inheritance tax…
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Grant of Confirmation help
Hello everyone :hello: I've recently lost my father very unexpectedly and now need to start the Gramt of Conformation process. I have already found lots of useful advice from searching the forums but have a few questions, would be grateful if anyone has any advice or can share their experiences. Background: seems like an…
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Dealing with shares
Hello All. I am executing my Mum's will, and have dealt with nearly everything apart from her shares. She has several, most of which are not worth too much on their own, but all together add up to a reasonable amount of money that I need to acquire and distribute. My problem is that I am finding instructions from equinity…
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Discretionary Will Trust
Hi, So my Dad has just passed, leaving a NRB discretionary Will trust written in 2002, with his surviving spouse and 3 children as executors, beneficiaries and trustees. Spouse lacks mental capacity and is in a nursing home. Property is owned as tenants in common. Question - dad wanted to prevent his estate, worth Ca.…
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Who ensures a Will is executed?
Hello everyone My mother died a couple of months ago. She had a will lodged with a local solicitor. Seems eldest was appointed executor. The family don’t talk. Can someone tell me if anyone ensures he, the executor, carries out the instructions of the will? He currently lives in mother’s property. I would have assumed he…
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Solicitor closed down for dishonesty, joint executor
Hi, I'm joint executor with a solicitor in respect of my late Uncle. Solicitor has been closed down for suspected dishonesty. At present his whereabouts are unknown. Probate has been granted and the bank has closed down my Uncle's account and the money (6 figure sum) sent to the Solicitor, 3 weeks before his practice…
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Enduring Power of Attorney?
Does anyone have any knowledge of EPA? My father, who is still capable of dealing with his own affairs, has an EPA which was completed a number of years ago. It shows My brother and me, jointly to be his attorney, should it ever be required. My brother has moved abroad. Today, my father showed me a letter he had received…
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grant of letters of administration
Hi all, Brother in law has recently passed away without leaving a will. He has an only son that will inherit everything, (divorced 15+ years ago). No inheritance tax to worry about as the estate will be worth about £70k, (mainly a small property). I understand from various websites that we need to get a "grant of letters…
