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Will Trust , what sort of trust is it and is IHT due ?
Hello everyone, I hope you can shed some light on this. Mum dies two weeks ago. We all lived together in the same house. We thought she had rewritten her will to make me sole beneficiary, we saw a draft but i’m guessing it was never finalised. Instead we have the will that states that my wife and I are to be lifetime…
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Executor obtaining House Buildings Insurance
I'm an executor and I need to obtain House Buildings Insurance on behalf of the estate, any pointers appreciated TIA.
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Accept entitlement under a will?
Despite maintaining good relations with my ex-wife and her mother I've been very surprised to be notified I am a beneficiary in the will of my ex-wife's mother to the tune of a few grand. Not sure what my ex wife and other members of her family feel about it, I imagine none of them will be happy. I haven't talked to my ex…
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Please allow us a reasonable time ?
A few weeks ago, I contacted Seagull Legal Services the “technical”
executor of my father’s estate to advise my brother and I would like a Deed of
Variation put in place to redirect my 1/3 share (approx. value £20k) of a
retirement property to my him – our sister, the named executor in the Will, is
the other beneficiary…
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Transferring assets in event of terminal illness
Married couple, one of which own a second property entirely in their name which they inherited about 10 years ago (and have never lived there). Their spouse has been diagnosed with a terminal illness and looking online there is a suggestion that the property should be transferred into their name as when it's then…
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Overpayment of Pension Collections
Hi all, my mother received an overpayment of pension letter from the DWP about a year after my father passed away. I checked the payments made and found that there was one made on the day of his passing (technically while he was alive), but not after that. I also read the Martin Lewis post about ignoring these types of…
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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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Dealing with an intestacy
Hello everyone, I'm dealing with the death of an elderly relative who didn't leave a will. I was her next of kin in terms of social relationship. She was my dad's cousin - making her my 'first cousin once removed'. Her closest relation is an uncle who does not have the capacity to deal with probate and has signed a PA12…
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Legitim (Legal Rights) and Transferrable NRB
In Scotland and trying to figure out what NRB can get transferred to a Wife based on 2 scenarios. Husband's will is about £270000, leaving everything to wife, plus £10000 to grandkids, roughly £10000 in PET's. Scenario 1. 3 Children claim legal rights Scenario 2. Don't claim legal rights. Any help appreciated, and also is…
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IHT400 potential correction.
Parent A dies and leaves everything to parent B. In the last two years before parent A’s death the parents jointly gifted £300k. Parents each have IHT £325k and RNRB £175k. Joint estate after gifts is £600k so no inheritance tax. Savings are with NS&I who require probate. Parent B as Executor did probate and completed…
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Facts around Will and trust, abuse of vulnerable people
My parents changed their Wills 48 hours before Mum went into a dementia home, and a month before Dad died as predicted. The main reason for the change was to protect the estate from care home fees. My Mum did not need to update Will as Dad was dying. This appears to be a deliberate attempt at depreciation of assets. With…
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Grant of Confirmation
Hi, I’m trying to fill in the form for Grant of Confirmation for my dad’s estate (C1). I’m trying to do this on my own without a solicitor. I think I understand the main issues, it should be such a simple situation, but what exactly to put on the form is driving me crazy :mad:. Would be grateful if anyone could help.…
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Inheriting property abroad where there is also a right to remain
Hi, My daughter stands to inherit a 1/3 share of a house in Spain after her gran passed away (her gran lived in Spain). Another family member has a right to remain in the property as long as they stay in Spain, as I believe this is stated in the will (and they will also inherit a 1/3 share). My daughter could end up…
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Questions after receiving probate - Can you help?
As the executor, I followed the DIY route described on MSE and have recently received probate for my mother’s estate. I am awaiting two financial services to transfer money to an account set up for this purpose. Once this is done, I should be able to prepare the account and distribute the estate as set out in her will to…
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Probate: 99%/1% property
A property is split between a son and mother with a 99% / 1% split in the sons favour. The mother lives in the property and has rights to live there until she passes on. He is now deceased, with his will stipulating that his 99% is left to his daughter. Ideally it would be good to resolve this before the mother passes on,…
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IHT Probate and excepted estates
I am hoping you can advise Mother passed away 2023 will left all to her husband. 300k house jointly owned and father also has 110k in normal bank account and 12k in shares. Gifts may be below allowances. We will have to go through 7 years statements and bank stubs to check. We had to use our Amazon for all needs and goods…
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Net qualifying estate value for IHT:
I'm attempting to deal with my late father's probate and have come unstuck at the first hurdle! He was a 'tenant in common' with my surviving mother and has left everything in his will to me. What do I enter in the box that asks for 'Starting with the net value above, take away the total value of any assets passed to a…
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Leaving 10% to charity in a Will
I know that if you do this, the IHT taxation rate is then reduced to 36% from 40%. But does this only apply to ‘cash’ assets, i.e. property is a separate thing, or is your whole estate (including the property) used as the figure from which you bequeath 10% to charity? When he died last year, my Mum inherited my Dads…
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A bit more clarity on IHT / Pensions
https://www.accountingweb.co.uk/tax/hmrc-policy/welcome-budget-change-reduces-risks-for-executors Whether it’s going to make it easier for beneficiaries, who knows.
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Money Moral Dilemma: Should I pay my sister half the money our deceased father gave me?
This week's MoneySaver who wants advice asks... A few years ago, my father gave me £30,000 to help pay off my mortgage. My sister agreed with the arrangement, and I signed a piece of paper to say that I'd received it. My dad's now died and, once probate is granted, my sister wants an extra £15,000, or half of the £30,000…
