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Independent Executor Bank Account
To date I have handled estate expenses via a personal non-interest bearing bank account in my name. I expect Probate to be granted shortly and a significant sum will be deposited. Ideally I'd like to move the funds to an interest bearing account which would be completely distinct from my own finances. That way I can show…
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Gifts and the seven year rule
I am thinking of leaving a subsiantial gift to my grand chilgren, and I would like to keep this a secret until they are 25 years old, when I will probably be dead. I do not want to tell anybody about this, (as I want them to have a nice surprise), and just leave a note with my will telling my executor where the gifts can…
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Posthumous inheritance and subsequent IHT
Pls can I ask a question. This isn’t for me but for a friend and I couldn’t find the answer online so hope you can help. If they didn’t use all of the £650k on their last parent’s death and then posthumously that parent inherited a property and assets which then came to them (following that parent’s will), would they now…
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Probate - apply to whole estate?
I've searched the forums and can't find the answer so please feel free to point me in the right direction if you know there is already a post about this! My Best friends father has recently passed away. He did leave a will so that's fine. His total estate is under £40k. He had a couple of life insurances, both with the…
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Understanding a Will
My father-in-law passed away three years ago. The estate went through probate. The executor has never acted on the instructions in the will. Can you see any reason why the clause above should not have been paid? The only other beneficial is his wife (the executor).
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Any need for a will in a very simple setup?
I've spent quite a bit of time reading through the reasons for why one needs a will and, though they all make a lot of sense, most of them apply to lives more complicated than ours.For a married couple with no children (and none by former partners, no overseas property, etc etc), are there actually any benefits if we'd…
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Tax on Interest
Hi - I'd be grateful for your help. I was Executor of my Dad's estate & his savings were in various NS&I products. Since the value was over £85k I set up a Direct Saver with them to transfer the funds as they were released. I referred to it as the Executor Account throughout the process but it was in my name. The account…
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Probate Needed?
Hi, my Dad passed away in 2021 and left his half of the house in trust. This is to be split between various family members on my mothers passing. Should we have gone through probate? All other monies were in joint names with my mum. Thanks in advance ☺️
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HMRC confirmation of amount of IHT due
We submitted the IHT400 over 4 weeks ago. The online forms automatically use the figures given to give a value as does the simple inheritance tax calculation on pg12. However I also ticked the box at the top of page 12 under Working out the Inheritance Tax . It states If you’re filling in this form yourself without the…
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Will being contested
I’ll try and keep this as short but detailed as possible I have 1 brother, 2 sisters. My mum passed away in jan 2023 and my dad passed away in feb 2024. My mum and dad left the entire estate to me, my youngest sister got in trouble with the law and drugs, the other two were never interested, never visited them and mum and…
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best process for transfer of car keeper?
advice on this scenario would be most welcome for hassle reduction. car registered keeper is deceased, executors/beneficiaries want to keep car at least for a short time. Insurance ok as is a second car on a living person's policy, although will advise insurers. V5c available. I recall from last time that using 'tell us…
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Dividing an estate in two where there is more cash than property value
Apologies, this is a bit of a post bump, but didn't get a lot of response last time and interested to hear any views before proceeding. I'm the executor dealing with my mum's estate. She had a house she owned outright and and cash/investments worth a bit more than the value of the house. There are two beneficiaries, myself…
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Inheritance tax allowance
Can somebody please advise me? If a widow with no children or grandchildren, who inherited her late husband's IHT allowance, then dies, leaving her estate to nieces and nephews, what will her IHT allowance be? I'm assuming £325,000?
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Money in the event you both die at the same time?
Just a curiosity / what if question really. OH & I don't have any wills in place. No kids either. Basis of this was, Googling seemed to say that if I die then it all goes to OH & vice versa but with us very soon going in one of those big birds in the sky it made me wonder - what if it falls out of the sky & we die at the…
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Inheritance interim payment
Hi I have no clue as to request an interim payment from inheritance. To request from the solicitor/executor. I am unsure as to how to word it. I don't want to appear, pushy Is there an example template i can use. Many thanks
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How to sign if you can't sign?
A close friend has asked me to help them prepare powers of attorney as I have recently done them for us. The problem is that he is now severely physically disabled and cannot use a pen to sign anything. There is some arrangement in place that allows a family member to sign cheques etc but this is limited to the one bank -…
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Deed of Variation
I have an inheritance. I wish to complete a Deed of Variation for three people. I wish the amount I leave to each person to differ as once person is more in need with children. Does one person necessarily be shown what the other person is receiving. Is the Deed of Variation one form or can it be two individual forms?
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C4(S)Scotland Fee
Hi, I have completed a C4(S) Scotland form for additional assets omitted from the original inventory declaration. This is simple and I'm doing this myself. No change to Estate Tax situation. I've tried contacting the Sheriff Clerk department where it's being sent to but I can't find an answer to what fee I pay, if any.…
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claiming relief from 1st death items on 2nd death IHT400
I am completeing IHT400 for my father who survived my mother by about 3 years. Everything was left to him in my mothers will except for a few small UK charity bequests and at the time we only applied for probate for my mother without needing to do IHT. 1. where can I now enter figures to gain tax relief for my mother's…
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Missing weeks of State Pension
I am executor for my Dad who died on 23 July. He had been receiving SP every four weeks, the last such payment being received on 4 July. In the ordinary course, the next payment would have been on 1 August, however this was not received due to my promptly notifying the Tell Us Once service of his death. My question: is…
