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Care home fees and joint tenancy.
My parents, Dad 94 and Mum 87, own their house as joint tenants. My Dad also has shares to a value equal to the house. Rather than go down the route of Tenants in common, would it be effective to transfer the house to my Mum and write new wills, my Dad's shares to his beneficiaries and my Mum to will the house to hers ?…
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What to do with cheques received before probate granted
I have received various refund cheques as executor. Probate is required, and I havent even got as far as the application yet. What should I do with these cheques? I have a bank account set up to keep any costs I cover transparent, can they be paid into there? Alternatively should I set up an executors account and deposit…
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Additional Residential NRB
Mother has passed, Survived by partner (not married) Executor (myself) named as trustee Property has been valued (Estate agent only at this stage) at £285-300k. Approximately £100k in cash savings. The will says 5. Life interest in (address of property) 5.1. In this clause: 5.1.1 'the life tennant' shall be my partner…
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Impact of Pension Credit Assessed Income Period at death?
Dealing with confusing info while handling my mother's estate. Does anyone here have first-hand experience of dealing with an estate of someone who received benefits? She had an AIP for Pension Credit (indefinite period I think) when she died, and so hadn't been required to report savings information unless it meant the…
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Looking for Advice re: Potential Irresponsible Lending?
Good morning all, I am hoping someone might be able to advise on a situation that I have found myself in. My estranged father has recently passed at the age of 66, and he has not left a will, so my sisters and I have gone through Probate, and we have been granted Letters of Administration to deal with his estate. He died…
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First time Help Needed/ Bit Of A Mess
Hi all, hoping for some advice please. Background history Parent A haven't seen for 30 odd years Parent B bought own house after splitting. After some time remarried Parent B has passed away approx 2 months ago. Getting no information from current partner. Don't know if tell once has been done, banks informed etc. Partner…
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Inheritance dependence nightmare
Hi all I will try and keep this short - my dad recently passed away. his will was outdated and detailed his girlfriend being allowed to stay in his solely owned property for her lifetime provided she maintained it. the property mentioned in the will has been sold and another property bought in my dads name. We have looked…
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Double inheritance tax conundrum
My aunt (93) has sold her house and is now living in a nursing home that is fully funded, her estate is worth around £1.1m. She wants to gift most of the proceeds to myself, my sister and my mother (88), the split being £380k/£380k/£280k. We are aware of the inheritance tax liabilities on these sums. However, my mother has…
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pros and cons of Reserved power as executor
Can anyone spell out the pros and cons please, I'm considering electing to have reserved power as executor. My last parent died recently, All children are named equally as executors and trustees in the parental wills (no other parties are mentioned), and the estate is bequeathed equally to the trustees. So should be fairly…
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Large Estate - DIY Probate
Hi all. Very early into the probate process after a family members death, but already, the Solicitors that I was thinking of using as the sole Executor are being very slow to even get back to me with a simple query. I haven't yet signed the forms appointing them to help with this. I am seriously considering going through…
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Use of Probate Services
Has anyone used a Probate Service (fixed fee) that they would recommend? I've seen it's possible to do it yourself and I might have to if the fees are too high. There's no property or assets but there is about 100K cash.
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Probate delays and risk of losing property sale - any remedy?
Hi, we applied for probate for mum's estate (second death) in early August. In Sept they requested additional info which we submitted on Sept 26th. They won't give us any sort of insight into where it is in the process, whether there's an issue or what the general timeline is. This is a problem because Mum had actually put…
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LPA refund
My wife and I are in the process of creating our LPA's and we decided to nominate each other as primaries and a couple of relatives as backups. We checked with all concerned and they were happy to sign. As we were both doing financial and health (total of 4 LPAs) we decided initially to submit just one to ensure we had…
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Latest on Interest Bearing Accounts for Executors
A simple search I've just done with Google quickly threw up one possibility offered by Cater Allen, who appear to offer Executors fixed term deposit accounts of varying fixed periods at reasonably competitive interest rates, so long as you are a "personal customer" and have a minimum of £5000 to deposit (plus a few other…
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Accounts and death notifications - some observations
I was always under the impression you had to advise a Bank/BS about a death ASAP; but the first bank I contacted told me there was no rush and sometimes it made sense to delay the notification. In this particular case it was a savings account and if the linked current account was still open they would transfer the money…
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Probate Advice
Hi, a family member has passed, she has left monies to six family members. She has a will. £157,000 she has left. I am named as the executar aswell as my mother. Ive had a look through the process, it seems fairly straight forward as no, property or other assetts. She just has a normal bank account. Will inheritence tax be…
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Do estate proceeds held in a joint account form part of my own estate?
My sister and I are administering the estate of a deceased relative. Once probate has been granted, the proceeds from the estate will be paid into a joint bank account, before being distributed to the beneficiaries of the will. Might there be a subtle difference between paying the money into an ordinary joint account (with…
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Sale of deceased's car : Can proceeds be considered as income for gifting from surplus income.
My father recently passed away, leaving everything to my mother. His car was valued at £8000 and included in the IHT/Probate calculations. My mother has her own fully paid for car, so my father's car has been sold for £8000 as it was surplus to requirements. We would like to consider the proceeds of the sale as income in…
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Deceased's debt liability
Hi all, I've heard that nowadays a credit card debt is wiped upon the death of the cardholder and the executors can no longer be chased for the balance. Is that true? And if he deceased had a recent bank loan and died only a few repayments in.. can the executor still be chased for the outstanding balance (it's a lot!) or…
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Will v No Will
Asking on behalf of a friend. What are the major differences between somebody dying with a will v dying without a will in respect of cost and time taken to apply for everything? Assuming the deceased is widowed, no house to sell and has two adult sons who would split the estate equally. I can’t really see a great…
