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HMRC timescales for adminstration period informal arrangements
Does anyone have recent experience for how long HMRC take to respond to requests to pay tax due in respect of income received by an estate during the administration period. I recently sent HMRC my calculation of the tax I believe the estate is due to pay in respect of the administration period, with the amount of tax due…
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Help!
Long story short my dad is selling our family home for 100k. He wants to know if he can give 20k to each of his four 3 children. He is married but seperated. Ive read that he can only give 3k tax free so im assuming its not 3k each. Hes always said if he was to sell the house he'd buy a conservatory for us. Am I right in…
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Probate question
Hi I know this post will sound a bit mad but I'm hoping someone could advise me. My mum has recently passed away leaving me and my 2 older brothers as executors. Her estate is very simple basically a house ( no mortgage) and 2 bank accounts. I cared for mum and did all of her finances etc. One of my brothers is claiming…
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Credit card Debt
HI Everyone, Im looking for advice. My Brother had a heart attack a year and a half ago and was off work early 2020, Then came Covid and he had to shield , which he did for the rest of the year and beginning of this year. Unfortunately, he contracted covid and spent 5 weeks in ICU in a coma before losing the fight and…
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Numerous Debts
My friend's mum has just died. Her younger brother (19) still lived at home with her. The house was own 80/20 with the mum and a friend of hers. When starting to look through her mum's things she has started to come across a number of debts, gas, electric, water, credit cards, hellofresh and gusto. Is there any advice or…
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What to send by post with online probate
Hi, I have just completed and sent via the online process inheritance tax then probate forms, all paid for, extra copies ordered but just want to check what documents I need to send (recorded) to the Harlow office. Is is just the cover letter, original will and death certificate? I'd hate to miss a small detail having…
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Pension Nominee and Deed of Variation (plus insolvent estate question added)
Morning. Just a quick question that occurred to me, and I'm not sure it's been asked before... Can you use a Deed of Variation in respect of an inheritance you receive by way of being a Pension, or Life Policy nominated beneficiary? Rather than as a beneficiary of an Estate. I realise that this would usually fall outside…
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Zopa investment
My father passed away last February 2020. He invested in Zopa. Trying to get information or statements or his money has not been possible. I got the power of executive but Zopa refuse to provide any money statements or to change the investment out of his name. I have no records other than they confirmed he invested. We…
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Business Rate Relief - Triple Point
For all sorts of reasons my Fathers finances were in a real mess. The vast majority of it has been sorted and he is now in a care home (a much safer place for him than his old house which was a hoarders house, and in a real state) He had made no real provision for inheritance tax and his estate is approx £1.5 m. He is…
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Probate... Who should pay council tax?
My mother died October 2019 but my brother (who owns his own house that he pays council tax on) used her property to store items for his market stall business. The local council are charging him council tax for both his own home where he sleeps, and for my mothers house where he stores his goods. This is currently under…
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rules of intestacy
My father died in 2014 and was married and passed without leaving a will therefore everything automatically transferred to his wife as my father remarried. My dad owned some land in Barbados which under the Barbados rules of intestacy I would be entitled to part of. However, my dads wife is refusing to do anything with it…
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Engaging professional help for an Executor
DH and I are in the process of preparing to write our will. We will be having this done professionally. We intend naming our 2 adult children as executors and beneficiaries. However, our DD has Chronic Fatigue syndrome and may find the process more burdensome than she anticipates. She is happy to take on the role but I'm…
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Advice about Discretionary Trust Please
My father-in-law died in January. My husband is executor (with his step-sister also named as executor with power reserved) and has been granted probate. According to the terms of the will the estate is to be split between my husband (50%) and his step-sister and step-brother (25% each) however due to his step-brother's…
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Severing Tenants in Common ownership
We are planning to remake our wills shortly and in order to do this, need to revert to being Joint Tenants. Can anyone tell me if this is straightforward to do yourself and if so how much it costs? Our solicitor's fee for this is £180, so just wondering if it would a good idea to do it ourselves. Thanks
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Writing will into revocable trust - worth doing?
Hi,My wife and I are going through a process of planning our estate and will writing.We're both 42, have 2 teenage children and want our estate ultimately to go to them in equal shares in the event of our deaths.Just to be clear, we initiated this process via co-op legal services (we weren't cold called). We've had an…
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gazette notice
applied for probate 10th march and received email today saying it has been granted. i am executor and beneficiary in will. should i place a notice in the gazette and will this inform dwp? how long should i wait for dwp to write before i distribute proceeds of estate, would it just be the time of the notice in gazette (if i…
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Changes in estate value after probate
I am at the final stages of administering an estate. The IHT due was paid in full before probate was granted in late 2018. In realising the assets since probate there have been some changes. Shares, and stocks and shares ISAs realised less that their values at date of death. A classic car was sold for a few K more than the…
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Lady_K
Some of you may have known my mum on here, her username was Lady_K. A while ago she posted a thread asking about no frills body disposal. Sadly we lost mum on 8th Jan 2021 after she suffered a catastrophic stroke 😭 After her passing I had absolutely no idea of her wishes about funerals as she never let me know, I think it…
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How can I ensure my assets don't get "lost" or unclaimed after death?
Hi I want to plan for the future and have quite a few bank accounts and share trading accounts, ISA's etc. I do most of by banking, trading and investing online so don't usually have hardcopy statements. When I pass away, I plan to leave all my assets to my wife and children. How can I ensure that upon my death my wife and…
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Executor transferring property to beneficiary where there is an ER mortgage
Grateful for any opinions on the following:- I am the executor for an estate which consists of a house worth around £395000 and £48000 in cash. There is an equity release mortgage on the property of about £142000. I am also the major beneficiary in the will with 92% of the estate (4% each to 2 other friends of the…