-
Do we need to pay Inheritance Tax
My mum passed away last week, and we are working to get everything in order. My three sisters and I have been named executors of her estate. I was my parents' carer (my dad passed away a few years ago) and have always lived in the family home with them. According to the will, I have the right to stay in the house without…
-
Will Trust Beneficiary 18 soon doesn't have bank account (yet)
Sole beneficiary is 18 years old in a few weeks. She does not have a bank account. She is due a very large (six figure) sum of money from her deceased Father. I am the Executor / Trustee and not related to either the deceased or beneficiary. Long story short, the beneficiary lives with her Mother who was left zero in the…
-
Found by an heir hunter
I have been contacted by an "heir hunter" company who tell me I may be a beneficiary in the estate of someone who may be a distant relative. They want me to sign an agreement which would give them a percentage commission of any inheritance I might receive. I have no idea of the value of the estate but if the deceased is…
-
Inheritance issues
I am not sure whether I need a Financial Consultant. My husband is reluctant so I am asking here. We are a 79 yo couple with fairly substantial assets (mostly in our home but some invested) . Fairly low income. 18 months ago I inherited quarter of my mother’s house which my sister is currently occupying and which since my…
-
Inheritance Tax Checker (ITC) before Probate Application
Hi all I am trying to complete the ITC prior to applying for Probate for my late father. I have a list of all his assets - all of which have been left to my Mother save for my Fathers share of the marital property which he left to my brother and myself. My Father had a private pension pot to drawn down a monthly pension -…
-
Joint tenants and trusts
Hi - so sorry for this long post- I'm really panicked about this. All paperwork for IHT is nearly done , but on checking it, I've come across a real headache. My mum died in 2016 and the house was transferred into my Dad's sole name- (the title deeds show they were originally joint tenants). The solicitor's letter at the…
-
Wondering about legal action for advice to my parents on putting their house into a trust
Hi everyone,I have discussed this in other threads, but my parents were badly advised by their financial adviser and a lawyer to put their home - principle asset - into a lifetime trust. They signed over their shares in the family home to the Trust, and appointed 4 trustees. The trustees were myself and my sister, and…
-
Discretionary Trust & Probate
Apologies in advance, this is quite long and complicated (for me anyway). Our mother died in December 2024 leaving a will which left her entire estate (property, money & possessions) in trust, with my brother and I being trustees and we are now executors. At the time my father was still alive and he was allowed to remain…
-
Tax on rental income received during administration period
Hello. My mother died last year with my sibling and I being joint executors and sole and equal residual beneficiaries. The total value of the estate is around £750k with no IHT to pay due to taking the NRB and RNRB of our father who died 2 years earlier. Based in England. We’ve recently received the grant of probate so can…
-
Deed of Variation signature
I live in the US and have to sign a Deed of Variation regarding the estate of my late parents. Will HMRC accept a digital signature so I can send the document electronically or does it have to be the original document? TIA
-
Mandatory Disregard
My mother is permanent resident in care home aged 98 i live in property she owns and have done for 10 years I am her daughter and over 60 so mandatory disregard of property as part her assets When she passes away will I have to sell house and payback all fees she had paid for her by council while alive? Not clear in all I…
-
Selling bereaved persons car
Hi - I wonder whether somebody would be able to provide a bit of helpful advice! My Father-in-Law recently passed away and I am executor of the will, so I'm currently in the process of dealing with all the admin that goes with that. Mother-in-Law is still with us, but not capable of such things, so I'm currently drowning…
-
Update on Estate administration
Further to several discussions, not much on the way of progress, caveats remain in place but now one of my nephews is now claiming the house as his main residence. My brother, my potential joint administrator, has told his solicitor that his son moved in months before my mum's death and all the utilitieshave been…
-
Executor - Sale of Shares on the Stock Market
I am Executor of my late father’s Will & Estate. I received the Grant of Probate last week. The Shares which are all ISA wrapped he had dropped 14.64% in the last week following Trumps Tariffs so I think it is not the right time to get these sold and I should wait to see if the market picks up taking my duty seriously to…
-
Cash gifts on estate worth less than £130,000
Sorry, this is a long one but hopefully gives all the relevant information for my question. I’m looking for some advice please regarding the reporting of all cash gifts made within last 7 years when applying for probate on an estate that will not attract IHT. I’m the executor of a family members Will. The family member was…
-
Multi-jurisdiction inheritance question
Mr X is a citizen of one EU country but has been living in another for many decades. He owns property in his birth country and also in the UK. Similarly he has other financial assets in all three countries. He has two children who will inherit his estate in equal shares when the time comes. Questions: 1. Under the legal…
-
Tiny percentage of estates paying IHT utilised gifts out of surplus income exemption
Article below not especially surprising. Conceptually the exemption is complex and far from intuitive as the many posts on the various MSE forums attest. https://inews.co.uk/inews-lifestyle/money/pensions-and-retirement/little-known-way-cut-your-inheritance-tax-bill-one-50-use-3677859 Whether future IHT on pension pots…
-
Help - Monies given before death for an annex that wasn’t built
Hi everyone, I’d be grateful for your assistance. A reasonably large sum of money was given from my father to a family member to build an annex for my father to live in as he was getting older. Unfortunately my father died before plans were finalised or planning permission was even applied for. In a “letter of wishes” my…
-
IHT400 - where to enter money left to grandchildren
I'm going through the probate for my mother, who sadly passed away recently. In her will, she left an equal sum of money to each of her grandchildren (all of whom are over 18), as well as all of her jewellery to her granddaughter. I may be missing something obvious, but I can't find where to enter these details on IHT400 -…
-
Advice on Estate Planning
I hope this is the correct forum for this thread... My wife and I (both in good health and in our 60s) have 3 children each from previous marriages. We are retired and live off small pensions and savings. All children are adults and financially self supporting. Our home is mortgage free and valued around £300k in in my…
