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Willed money to sons.
I don’t know if this is the right place for my query but I hope someone can advise. My partner has written his will to split his estate equally between his three children. One is married and solvent, the other two are currently on benefits and he’s not sure they will work again. He has set his will up to feed £10,000 per…
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Due to inherit £5,000 how will this affect my benefits?
Hi, advice needed please I've been unemployed for 7 months and will be due a inheritance from my mother's estate, its approximately £5000, as I'm now unemployed I just wanted advice regarding how this may affect my current situation please. I find it all very confusing, is a inheritance lump sum classed as an asset or…
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what is the inheritance tax amount for a widower?
My mum died in May 2020, leaving a will. Her half of their house was left in trust to myself and my brother. Mum left about £50k in savings which has now been put in my Dads name and bank account. The full value of the house is about £240k and Dad has a further £50k in savings. Does Dad now have £650k inheritance tax plus…
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Unsecured debt - Barclays helped themselves
Sadly my brother passed away a few months ago and I was named as Executor in his will. He lived in rented accommodation and had few possessions except for a car on (manufacturer) finance. He was a Barclays customer and had a current account, two ISAs and a Barclaycard. In order to be able to speak to Barclays to sort out…
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Making A Gift
Just a basic question. My sister is 64 and wants to give some money to her son. About £40,000 I believe. This may count as a gift with HMRC in the future and I have to say that my sister is not in the best of health. If she wants to make this gift does she have to fill a form in or put anything in writing? Or just sign the…
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Chattels without "value"
I would appreciate some advice for dealing with household items that have no monetary value and how to distribute them amongst beneficiaries. I am one of two executors to my late mother's straightforward will - all her estate is to be divided equally her four children namely me and my 3 siblings. Mum was a keen record…
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IHT and tenants in common
Hi. My parents own their house as tenants in common and each will leaves their half of the house to my and my sibling. My mother is terminally ill. When she dies her half goes to me and my sister, and it won't be worth £325000. I assume her money will go to my dad. When my father passes we will then get the other half of…
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Do i have legal rights
Keeping this brief I was made the executor of my parent will of testament. It is wrote to be devided at equal shares between myself and siblings. I have asked my siblings to accept a proposal at a lower offer of the net worth to buy them out of the will of testament. One sibiling does not want to accept and wants the equal…
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Gifts under £250 - do they go on IHT403
My father paid money into the accounts of the grandchildren fairly regularly - usually on their birthdays but also other occasions. Most of the time these were under £250 per child per year but there were sometimes larger amounts. I will need to declare the gifts over £250 on the form but do I need to list every gift under…
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Inheriting a house - should estate pay all bills and gardening costs to date before transfer
I have inherited a house. Executors have said I am liable for all maintenance and upkeep of the property incurred after the date of death as I am the legatee under the will and should not be a liability of the Estate even though the house has not yet been legally transferred into my name (just over 2 years now since…
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Inheriting house - should estate pay expenses to date of grant of Probate or only to date of death?
Trying to wrap up Probate where cash and house are going to us children 50/50. One of us has been paying house expenses while Probate went through so we need to figure out how to even this out. Should the house expenses should be charged to the estate until the date of grant of Probate or should we do so only until the…
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Probate Instruction help
Hi all, any help would be grateful :smile: Our neighbour recently passed away. She had a will and a solicitor is her executor. We held LPA's for our neighbour, so we sent all the relevant paperwork (bank accounts, bills etc) to the solicitor. However, for some reason, he has sent us a Probate Instruction form to fill in as…
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IHT407 - how to value
I am trying to value of the contents of a house - there is nothing of value ie jewellery, coins etc. The contents consist of a TV, other small electricals, furniture, white goods, clothes, kitchen equipment, garden tools mainly. How would this be valued? There is nothing I can sell - it will all go to a combination of the…
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Claiming RNRB on a main residence failed PET with GWR
Hi there, My father passed away suddenly in 2020In 2019 he gifted his main residence to me with a written write of residency. He lived in the propery until his death and paid some of the rates and bills Given that he died within the 7 years the PET failed.My question is, can RNRB be applied to this main residence given…
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Barclays - Bloody useless
Grant of probate was uploaded over a month ago, house deeds had been retrieved from deep storage 3 weeks ago, we are still waiting for the bank account funds that we were told should only take 3 working days to transfer (last Wednesday, for the 3rd time) and no sign of the deeds being sent out, the rigmarole to get through…
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Probate granted March 2020
Hi all, letters of administration were granted in March 2020- the deceased passed away Feb 2019. The administrator only applied for the letters of administration/ probate in Feb 2020 so it’s all dragging on. Property is not on the market - estimated value £180,000. Am I right in thinking that once six months has passed…
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Deed of Variation
My wife and I are the sole beneficiaries in my sisters will. We have sold her flat and want to distribute the money between family and friends. I understand I have to make a deed of variation. The value is £130k so it falls below inheritance tax. My question is can I write and sign the DOV and file and just file and keep…
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Buy out sibling after joint inheritance of mothers home
I've searched (google / MSE) for a simple answer, but have yet to find one. I inherited a half share of a property from my mother (my brother being the other owner), the probate and assets were all sorted and distributed in the middle of last year, IHT all paid. We've held onto the property as it was beneficial to use it…
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What if I've left cash to beneficiaries but in the end there's not enough cash left?
I have 3 beneficiaries - my partner, and my 2 relatives. I have a will, and enduring powers of attorney for health/welfare and finances. My partner is my executor and my attorney. I own my flat with my partner (joint tenants, not married or in civil partnership), so after my death our flat will legally transfer to my…
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IHT Twice?
Hi, I have recently lost both my parent and my nan, separate incidences 4 months apart and have been left 50% of my parents home (with my sibling having the other 50%) along with 25% of my Nan's property with my sibling having 25% and uncle having the remaining 50%. With regards to inheritance tax, how will this work. Is…
