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Inheritance Tax and Probate
Good afternoon all My wife's cousin passed away a week ago. She is childless and partner had passed away few years back. She left 3 properties to my wife, 2 on mortgage and 1 mortgage free. The 2 properties on mortgage were what she used for monthly rental income during her retirement. My wife is hoping she has not…
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Should I get a will?
I keep thinking about whether I should arrange a will. Each
time I think about it I come to the conclusion that any will would probably
follow the intestacy rules and maybe I don’t need a will and probate will be
sufficient. But I’m wondering if I’ve missed something and there is some reason
that I’m yet to uncover that…
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Propery trust when one partner is ill
Hello. My wife and I, both 68, are looking at putting our property in trust for the benefit of our children. However, my wife has an incurable long term condition which, while not immediately life threatening, may need intensive medical care in future. It is not a condition that is likely to need care in a care home but…
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Home Buildings Insurance During Probate
I hope this is better posted here instead of Insurance & Life Assurance Forum. My late uncle passed away last October and the Home Buildings Insurance for the property he jointly owned as Tenants in Common with his sister, my mum, has just come up for renewal. We are still within the Administration period so the transfer…
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Question re-inheritance rights when sibling is is in a secure home
Hi, my mother-in-law has a will that says all of her estate on death goes to my wife. However, my wife has a sister who, due to severe learning difficulties and mental health issues, resides in a secure home and has done for many years. Is there the potential for the state to make a claim against the will, in the event of…
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How do gifts to our children within seven years of our death affect IHT?
We are planning ahead but don't know enough about IHT. My wife and I are 70 and 60 years old respectively, we are both fit and we are selling our family home, our two sons moving out and finding homes for themselves. They need help with mortgage deposits now, rather than wait to inherit when we both die. So we are…
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Contesting a Will as Next-of-Kin
Can anybody offer advice regarding contesting a Will. The deceased appears to have been pressurised into completing a Will within the last few weeks of life and we now discover that all Family and Close Friends have been excluded while the vast majority of the Estate now goes to the couple of End-of-Life Charities involved.
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Possible claim to inheritance need advice please
My grandfather passed away last year and in his will it names both my sister and I as executors. This will was made 14 years ago. Now I’m going through a divorce to which in the financial settlement I’m taking a lesser sum from the marital home and my ex husband wants no claim to my inheritance. (The divorce had already…
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Getting probate done
My sibling and I are not close and our mum passed away last year. It wasn't due to covid, but a complication from her illness. We are co-executors in the will and my sibling engaged a solicitor. A lot went on in the past few years and I did POA myself. I didn't do it out of spite or to cut my sibling out, but they had…
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Is this a business?
I'm trying to settle in my mind if my late mother unknowingly ran a property business. I can argue myself either way. HMRC have a page about renting property. In it it says: Running a property business You have to pay Class 2 National Insurance if your profits are £6,515 a year or more and what you do counts as running a…
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Annuity/Pension Annuity - are they the same?
Hi all, I've started filling out probate forms but am already stumped. On the IHT400 question 37 ‘life assurance and annuities' it asks if the deceased 'paid premiums of any life assurance policies and annuities or other products which are payable to another person after their death'. dad had a private pension and when you…
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why is probate needed at all??
moving on from a very recent post by another person.....why is probate needed at all? When my FiL died nothing was done about probate. There were no debts, MiL inherited everything as described in their mirror wills. I sorted out the names on various accounts on MiL's behalf, got the death certificates etc. I get that if…
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Transfer of Ownership Query
I am the joint owner of a property with my dad with about £30,00 remaining to pay on the mortgage. He does not live there, he has his own house. We are currently in the process of transferring it into my name as I am in a position to be able to pay it alone and he doesn't want the hassle. Is there a simple and easy and…
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Change to executor - who needs to be advised???
And so the saga continues ..... Our mother passed unexpectedly. She owned the family home after our fathers death many years ago. She remarried. She left her will with two executors - her husband and the solicitor that drew up the will. The solicitor has since stated that they are acting for the executors???? But they are…
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Residuary beneficiary
Does a Residuary Beneficiary have the right to a copy of the final accounts of the estate from the executors prior to receiving their settlement. Also does the beneficiary have the right to delay payment of their settlement for a few months ( for personal reasons). Currently I am being harassed by an executor to provide…
