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Making a large gift and IHT implications?
I plan to leave my niece, £200K as a large gift while I'm still living.I'm aware of the 7-year taper relief rule affecting this should I die before 2032. Would this gift adversely affect me if I continued to make the £3K yearly tax-free gift allowance?... and would it leave me open to being taxed?
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Tax implications?
My mother recently died after being ill for a number of months and at one point we thought that a nursing home was the best option. She had £42K in Premium Bonds and about £7K in her current account, so it was decided to withdraw £20K from Premium Bonds and split money between my sister and I. What are the financial…
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Buying out an Interest in Possession Trust
Hi all, I am sure some will remember my situation. Mother died leaving her half of property to me but in IPDT for my brother that has no clause for ending expect my brothers death. If the property is sold my half has to be invested for his benefit. He is currently in a nursing home, self funding. I have LPA. In a previous…
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Probate - transfer of title
Hi I have had probate granted and looking to buy out sister who is co beneficiary I am aware of the forms required by the land registry but advice online suggests you go through a solicitor rather than do yourself Would that be best advice ? Seems a letter between myself and sister required between myself and sister to…
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Premium Bonds
My Husband died in November . Not an IHT family but we had made mirror wills leaving everything to each other with each other being the executor of each others wills and joint tenants in the property. The only reason I would need probate is to sort out the premium bonds. I wrote to the premium bonds people informing them…
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Premium Bonds and staying in the draw
Hi, Apologies if this has been asked before, I tried searching but couldn't find the question I am trying to ask. Last surviving parent has sadly just passed and has left ~£20k worth of Premium Bonds. Due to the size of the overall estate we will be applying for probate. The wording on the NS&I website seems a little…
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Internment of ashes. Advice
Hi all.. I'm wondering if anyone has any knowledge on the responsibilities of a cemetery with regard to the internment of ashes into the family grave plot. When my Mum passed away she requested to be cremated and her ashes placed in her family grave plot With a blessing by a catholic priest It has taken 4 months to…
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No IHT to pay, do I have to notify anyone?
My father recently passed away, I’ve registered the death, used
Just Tell Us Once to inform government departments. I’ve also notified his
private pension provider and they have confirmed his pension ends and there is no pay out to anyone because he has died. At the time of his passing, he owned no property and his money…
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Capital gains tax
This may fall under IHT or CGT. I own a house worth 220k with my sister. We inherited it in 2018 and it was worth 180k. We have rented it out since. If sold today, would we pay IHT or CGT?
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How long did it take?
How long does it take after the person died, to handing out the money?I am guessing a total of six months would be normal. To sell a £250k house and £50k, maybe there are delays with the council/government?
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family inheritance abroad issue
Hi A complicated story for opinions but trying to simplify. Father and wife lived abroad for 14 years. Wife died suddenly, they had mirror will made in that country and father inherited her estate. Father died 3 years later with no will recognised in the country. Estate therefore came under law of that country. Father and…
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What's my best option
Hi First time posting but I could really use some advice. Long story cut short but 13 years ago my father passed away and on going through his paperwork I found that a rogue solicitor had taken the deeds to the house under the pretence of registering with the Land registry. Of course he never did this and ran away to Italy…
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What to do about Car - Registered Keeper ?
I'm not sure if this is better here or on the motoring board but hope someone can help. My father died suddenly ten days ago and I'm dealing with his estate (He left everything to mum, and I'm executor). I registered the death on Thursday (delay due to coroner being involved) and am now looking at the Tell Us Once…
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Which website to apply for Probate?
My mother passed away and left her assets to my sister and me. She had her own house and one bank account. She was divorced from my father. The assets are worth less than £500,000 so it looks like we don't have to pay Inheritance Tax.I have applied for the Tax reference number which has yet to arrive, and also filled out…
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C1 Grant of conformation help
My Mum recently passed away and I am trying to help my Dad save money in solicitors fees by completing the C1 form for Grant of conformation. My Mum had several cash ISA accounts in her name and one of them is requesting grant of conformation. They have a joint will and the property has a survivorship clause, and…
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Please help me understand my nan's will
Edit: Thanks for all your replies, everyone. Most of my questions are answered now, but i do have one more whichi 'm posting here for people to still asnwer if they can. The only real question I have left is that if I'm not entitled to claim anything from my nan's will, then why are me and my sister still going to benefit…
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Quick sanity check
Hi all, Hoping someone can help with a quick sanity check of our situation and thoughts on Probate and IHT. Have spent hours going back and forwards (and around in circles) over the gov.uk IHT and Probate pages and think have finally got a clear understanding. Whoever wrote those pages needs to have a word with themselves…
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Court Sealed and Certified Copy of Will
I have requested Court Sealed and Certified Copies of wills which are needed for a property sale using form PAS1. It says lead time is up to 4 weeks (this is the 4th week). However I had heard that it can be up to 12 weeks which is concerning. Has anyone had experience of this lately and can say how long it took to get…
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Transfer house ownership after death
Briefly, my brother died last month, leaving a widow and naming me as executor. I've sorted most things out, but the house was in his sole name. I've applied for probate and was assuming the house would be sold, but his widow wants to stay there and have the house out in her name. Has anyone done this? I've researched it,…
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Executor Duties
Hello, I am in the middle of carrying out the duties laid our in my later mother's will . Hoping all should be completed in the next couple of months. Do I have to keep a record of how her estate has been distributed- will this be requested by the probate or HMRC at a later stage ? Will an audit be carried out. ? I have…
