-
Changing executorship from solicitors to family
This discussion was created from comments split from: Changing Executors and IHT with charity bequests.
-
Is this Legally Sound
Child appoints themselves their parents carer. Parents have valid wills with each other as beneficiaries then their 3 children equally as beneficiaries on the 2nd death Said child has parents add an "expression of wishes" to their wills which is worded such that this child and partner will be paid from the Estate on first…
-
Gifting a rental property to your children or grandchildren and CGT
Hello The scenario/possibilities are above. The property is in England. If someone were to gift a BTL to their child/grandchild, I'm aware there may be a CGT liability depending on any price gains and allowances/etc. Once this BTL property was gifted as mentioned above, two questions. 1: If the child/grandchild were to…
-
Interest Due on Client Funds Held by Solicitor
The Administration of a family members estate is drawing to a close and final accounts have been drawn up by the Solicitor. It is apparent from these that sums held on account pending distribution to beneficiares have attracted an interest rate of 1.3%. This seems a very low when rates in excess of 4% are readily available…
-
Giving up Life Interest to Pay Other Beneficaries
Hi all I was a life interest beneficary in a property which I shared ownership with my wife as tenants in common. She died in 2022. This has now been sold, and I have bought a new home using my own funds and I did not require the trustees to help me with buying my new property. A solicitor has provided the following advice…
-
Probate final stages - How to transfer house to ltd company efficiently and other questions
I’m the Executor of my late mother’s estate and think I'm near the final stages of finishing things up. There is no IHT to pay on the estate. The headline figures are that the family home was valued at £240k at death and there are shares and savings at approx £150K in shares/savings and the estate is eligible for the…
-
Help please
Hi. My mum died some 9 years ago. Probate didnt take too long but still it has not been finalised. To make matters even worse, it is my late fathers firm of solicitors who are dealing with it. There are 3 executors and 2 of my 3 siblings inheritance is in trust, complicating things. I have already complained to the `Legal…
-
Inheriting the money in an ISA that moved?
I was recently gifted some money in a relation's Will. At the time they made their Will, the person had a cash ISA, and left me whatever amount was in it after they died. Now, in the several years between making the Will, and their death, that person moved the money from the ISA into another cash ISA with a better interest…
-
Which of our names to use for Probate?
My lovely mother passed away on Friday and has left her estate in her will to my sister and myself. My sister and I have split the jobs to do, and I will be doing the Probate myself. However, in her will, my mum put my surname as my husband's, despite the fact I kept my maiden name when I married, and she put my sister's…
-
Executors not distributing estate 9 mths after probate, while one of them is driving my mothers car
Mother died 1.5 years ago, probate achieved 9 months ago, My sister gets has a pecuniary legacy to include any inheritance tax due, and then my sister and i are 50% 50% beneficiaries of the residuary estate. My sister and another professional wills probate company ( not a registered solicitor) are executors. In the 1.5…
-
Will Trust - Life tenant
I am a life tenant of a will trust set up by my mother. This is for cash only, no property. The trustees have invested it but have split it 60% income (for me) and 40% growth (for the remaindermen). I think this is unfair as I am 18 just going to Uni, and I think an 80:20 split would be fairer as I need the money now - and…
-
Partition of trust and tax implications
My father passed in 2019, leaving his 50% share in his estate to me; currently held in trust as his wife has a life interest where she may may live in the property until she passes away or no longer wants to live there. She has asked through a solicitor (we do not have a relationship) if I would be interested in a…
-
Discharge of legal rights
I’m in Scotland. I’m executor of my brother’s will. He has 3 children none of which are named in his will as he has named his grandchild as beneficiary. I have a discharge of legal rights document from one of the children from 12 years ago and it states, ”I hereby assign to my father and to his executors and assignees…
-
IHT Calculator - Confusion for Probate
All I am about to apply for probate and I am struggling with some of the questions as it’s not coming out how I would expect. Person A has died recently and their husband/wife died before them in 2002c which they left person A everything. With this in mind, then this would mean that they have their own allowance of £325k…
-
Resealing the grant of probate
Hello, Does anyone have any experience of resealing the UK grant of probate in a commonwealth country? I have received the UK grant of probate and need to have it resealed in New South Wales Australia, to be able to access shares held there. One of the steps involves having a signature witnessed by an Australian solicitor…
-
Will item question
I’m a beneficiary in a will entitling myself and one other to a 50% share of the estate, part of which is a property. It states in the will that myself or the other benefactor gets first refusal on the property if we would like to purchase it so this would mean buying the other persons share which I intend to do. I’d like…
-
Will Draft Includes Reference to Society of Trust and Estate Practitioners Provisions?
I am currently having a will drafted and the first received draft includes a reference to - 'The standard and special provisions of the Society of Trust and Estate Practitioners (2nd edition) shall apply'. I am not familiar with these provisions, but was wondering whether this is a standard inclusion in all wills and…
-
Trustees for family protection trust
I really wasn't sure if another board would be more appropriate for this query; please do say so if it should be moved. Brief history: Mum and Dad set up Family Protection Trusts. Mum's was brought to an end a couple of years ago; Dad's was left running (he passed away nearly 10 years ago). We're not revising those…
-
Secure Funeral Solutions Ltd in liquidation how do we get will back
Hi, I am trying to help the partner of a colleague who recently passed away. They made a will using Secure Funeral Solutions Ltd, 217 Portabella Road, Sheffield. This company has since gone into liquidation. They held the signed copy of the will at their offices and his partner only has an unsigned copy. Does anyone have…
-
What steps to take next if executor is not distributing will correctly
I have posted regarding this issue a while ago but now need more advice so rather than repeat the whole saga I will just give the relevant parts I need help with. There was just one executor. They sold the mothers property in Spain and distributed the proceeds between the persons named on the will. The will states the…
