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Trust Fund Issues (Long Post)
Hi, I hope this Email finds you well. I have tried to summarise my problem as much as possible and hope you could help as I am sure this is not an isolated case. A brief introduction, my father had a long history with BIG_HIGH_STREET_BANK since the 70s however he sadly passed away in March 1982 and a trust fund was started…
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IHT and Probate - correct order of activities
Hi all, I've been named as executor on my Dad's will and I wanted to check that I've understood the order of activities that I should be completing correctly, at times it feels like I'm going round in a big circle. My Dad's affairs are relatively straight forward (I think), he has left a small bequest to a charity and then…
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nil rate band discretionary trust.. help
So i'm getting really confused. 2009 potentially I would acquire 50% of main residency (they had property 50/50 tenants in common) and 33% of another property (we all had 1/3 share originally) wrote into my mothers will in NRBDT. Where would I find this logged as happening, no mention or changes were made to land reg…
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Starting probate - total IHT threshold
I am planning to apply for probate myself as executor and i'm only beneficiary. When my mother passed away 11 years ago 2 part properties were put in trust for me at the time due to inheritance tax planning at the time. IHT has since changed but the wills mirrored remained the same. Am I right in now thinking for probate…
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Probate property valuations
My father passed away in July, I've now pretty much contacted all companies to advise and got accounts closed or valued. I am still to get 2 properties valued... can I get normal estate agents to give a market valuation as with my mum 10 years ago or do I need to pay for a EA probate valuation?
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Funeral and care home costs .
I am 68 . My wife is 64 . We have one son . Both in reasonably good health . No life insurance as we let our 10 year endowment run out years ago as the pay out was terrible . Been in touch with a lawyer who has estimated cost of £1500.00 to set up life rent so that we own half of house each and then when one of us dies our…
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IHT Forms...advice please
Hello all, my mum passed away 5 weeks ago. As her executor I'm dealing with Probate etc..I've today received the IHT tax ref code...what are my next steps...do I complete the IHT 400 and IHT 435 forms and send them to HMRC , then they send me a letter telling me what tax I need to pay...I also need to complete a IHT 423…
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Affadavit of Execution for obtaining probate
I've read that for obtaining probate an Afadavit of Execution from the Will witnesses is required. Is this really the case? When we dealt with my mother-in-law's probate in 2015 we didn't have to do this. The reason for asking is that we're ready to have our Wills witnessed and I'm wondering whether we need to get…
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Compensation
My Mum passed away recently and was cremated. We wanted to be present as a family when her ashes were scattered and the funeral company knew this. It has now transpired that the funeral home told the cremation staff that we did not wish to be there and to go ahead and spread the ashes. We are devastated and the funeral…
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Will planning
I’m just in the process of writing a new Will and setting myself up a spreadsheet! So would like clarification on a couple of points as the estates that I have dealt with as Executor have been quite simple with no charitable bequests or IHT liability. 1. The spreadsheet I’ve created has: Value of estate - funeral costs -…
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Selling Share of Property
My wifes mother died 10 years ago without a will. She lived with her son and they owned their house 50:50. Her share was split between her 5 kids including my wife. The brother who now has 60% still lives there and my wife wants to sell her share to him. Its worth around 21k. it will be a simple cash transaction. Does…
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What to do with Spouse's Work Pension
Hi My husband passed away last year, I have just received a letter from his workplace pension advising my annual entitlement, when it will be paid etc. As I don't need this to live day to day, I am thinking about putting it into my own personal pension with Pension Bee. Is that the best thing to do? I'm 47 and currently…
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Living in a house during probate
Can a family member, who is not a beneficiary, live temporarily in a house, so it is not left empty? Is there an example agreement anywhere for this?
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Can a Deed of Variation save IHT?
MIL & FIL passed away last August, within 4 days of each other. There was a 30 day clause in their Wills, so each estate is being dealt with as separate estates. This was in Scotland. MIL's estate didn't have to pay any IHT, as there was only the house and a small (relatively speaking) of money. FIL had everything else and…
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Creating a Trust
Hi, both my parents are in their 70's and own there house which is worth around 250k. I have one brother and one sister. Obviously my main concern is that at some point they go into a home or require care and the Government will want the house. What is the best way, as it stands to avoid this. Speaking to someone at work,…
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Deed of variation
Hi, I hope someone can advise on a fairly straightforward query. I applied for and received a copy of my parents probate and the associated will. If there was a deed of variation would I have also received a copy of this? If not is there a way to see if a DOV exists? Background: A married couple who treated all their money…
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Chargeable Gains on Prudence Savings Account
My brother and I are the two (only two) Administrators for our late uncle's estate. Today I received letters from Prudential saying there is a Chargeable Gain on our uncle's Prudence Savings Account. They have provided a Chargeable Gains Certificate which states the gain and the 'notional tax already treated as having been…
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How Much Money Can You Give As A Gift?
HelloI hope everyone is well. I'm looking for some advice for my father, brother and self please. My mother passed away last year leaving my father, who is in his nineties. Mum had £50,000 in Premium Bonds which remained active for the twelve months following her death. Dad has now cashed in the Premium Bonds and wants to…
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How long has probate taken for anyone recently please?
I was wondering if anyone can tell me how long probate has taken for them in recent months please. Was it a pretty straightfoward probate e.g. no property to sell just money from an account? My sister and I have a solicitor to do it for us and bit of a delay on our end getting it started, because we need to sign letters…
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Pure Cremations - anyone signed up or know about them
My parents are interested in setting up a funeral plan with Pure Cremations. I'm keen to find out more about the company before they do. Anyone know anything about them or had family experience with the company?