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No probate for dad or should I?
Dad died recently, he left 50% of his share of the house in a will trust for mum. Mum, myself and brother as trustees and beneficiaries. There was no need for probate as the banks released his savings on proof of death certificate for his sole account. I have settled and closed all his accounts. I am looking for some…
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Inheritance not yet received but what if I die.
Hello. My parent passed away last year and my siblings are currently going through probate. If I was to pass away before receiving my share , would my daughter inherit from the estate my share? I guess I need to make a will? I am single. Many thanks for any advice.
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Conflicting HMRC advice
Hi, I am a co-executor on my dad’s will and we struggling to confirm if we need to submit an IHT 400. Dad’s estate includes: - 50% share in the family home, owned as tenants in common with mum / his wife (his share was worth circa £275k) - joint bank account with around £100k - other possessions worth under £10k Mum will…
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Am I right - or the solicitor...
Odd situation which seems a no brainer to me: Estate has large IHT bill to pay (£300k) and not enough time so to avoid late payment penalties (ouch!) the strategy is to pay the IHT before probate using the Direct Payment Scheme from liquid assets. IHT will be an estimate using the information currently available. Not…
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Advice needed on creating a trust in will
Could anyone advise me on what kind of trust I need for my will? I want to leave everything I have to my only child at the age of 25. If I die before they reach that age, how do I ensure that their other financially irresponsible parent isn't able to coerce them into handing over any money from my estate? I know this…
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Debt after death
In my will I predict there will be very little if anything at all, we also don't own any property. My 2 sons are named in my will in the unlikely event of any funds available. I'm currently paying money back to the dwp. In the event of my death will my sons be responsible for this? Tia
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Power of attourney refund
I was wondering if anyone can help me please. We used a company called Zenco legal Limited. We purchased both parts of POA for heal and finances, and then used the faster pre check option. We paid, £99.00 for health and £99.00 for finances, each part cost and additional £25.00 for health and£ 25.00 for finances to recheck…
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Being cut from a will
Long story short - my dad died in October. Before he died he had dementia and before that I was asked to view the will of my parents, this was written before my dad became unwell. As far as I am aware no other will replaced it. It stated that the bulk of everything would go to the surviving partner for their use and life…
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Questions around term life insurance and trusts
Hi, Parents are applying for term life insurance as single life policies (so two separate policies). In order to mitigate IHT bill if they were to pass away within 7 years of the large gifts they have made. Obviously these should be written into trust and it looks like discretionary is the best option given the flexibility…
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Council car Home Fees
Hi I was executor of my fathers will but very naive about the all situation he had a some savings (approx 18K & a House) and when he died I sorted everything out (or so I thought) I distributed the cash and put the house on the market While trying to sell the house we had a flood tried to claim off the insurance but…
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Best way to notify death of bank account holder
What is the best way to notify a death of account holder? I've recently lost my mum and was going to go to the next town with paperwork but I suppose I would need an appointment rather than just turning up randomly. So should I ring them or look for the bereavement dept link on the banks page.btw it's Barclays.Mum's got…
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IHT403 Form Gifts from Excess Income
. Level of detail for household Bills I have been giving my son the same amount of money every year for the past 5 years as a Gift from Excess income. I keep a spreadsheet with a column for each year and it replicates the layout of the IHT403 form. For Household bills I have a linked worksheet that I enter the regular…
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Do trusts over-ride wills?
I’m not sure if this the right place to ask; I’m a joint executor with my half sister on my dads & step mums will. When my dad passed away my step mum put the property in trust to my half sister without me knowing about it. And also took power of attorney without me knowing about it. does it not mean anything to be joint…
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Deed of Variation to set up a Bereaved Minors Trust
Hi, i was wondering if anybody could help me. My husband passed away very suddenly nearly 2 years ago leaving some assets to my children and me. He was young but had a will that set up a discretionary trust. However, i understand that a Bereaved Minors Trust would be a better outcome for the children in terms of tax…
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Inheritance tax rules on Industrial Disease Compensation awards
Wondering if anyone can answer this please. My sister in law's partner received a compensation payout for Mesothelioma, a form of asbestosis in 2023. He died in December 2024. They were not married or in a Civil partnership. She inherits everything in his will therefore the estate is liable for Inheritance Tax. This…
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Probate queries
I am the executor of my late Fathers estate with funds and a single property totalling under 1 million pounds (I will be claiming allowances for both my deceased parents). The beneficiaries are my bother and I. I have spoken to various probate specialists and had quotes from £595 (probate application) to £15,000 which…
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Seeing if tax is owed on estate? NOT IHT
My mum's estate is an excepted estate in terms of IHT but what about taxes that appear after death such as from Isa's mum has about £22k in of of those I need to close that down tomorrow when I get the paperwork to take to bank ,she only died a couple of weeks ago and I haven't got round to it.Will a tax demand appear from…
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Mum and Auntie have not obtained Probate but have helped themselves to my Nans money ...
Sadly, my Nan passed away in February 2021 after contracting COVID, my Nan was very close to both my sister and I. Our mum, and her sister (Our Auntie) dealt with the arrangement of the funeral (A Burial) because my Nan had purchased a Pay Up Front Funeral Plan with a local Funeral !!!!!!. It was an awful funeral due to…
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Inheritance question
Evening all, Before I goto a solicitor i'd like to rack your brains. My Stepdad sadly died on Monday, then on tuesday I received a call from my stepsister informing me that I need to act as executor. The will stated that my mum should be the primary executor with me as back up. Unfortunately my mums in a care home with…
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Simple estate?
My father passed away in October and I haven't started the probate process yet, which I know is getting off to a slow start. His estate primarily consisted of farmland and a farmhouse which are on a single deed in his name. He also had a personal pension. His will appoints my elderly mother as his executor and sole…
