-
Gifts exempt IHT
In addition to the various gifts exempt IHT(£3k pa, £250, etc etc) There is provision to give away funds where your income exceeds your expenditure. Now I always understood that to mean if you had income of, say, £50k pa and outgoings of, say, £30k pa you could give away £20k which would be IHT exempt. Other than the £3k…
-
Partner died intestate - family has taken money they’re not entitled to
My partner passed away 2 months ago, I’m pregnant with his only child. I have already spoke to two solicitors and know that our unborn child is the rightful person to inherit his entire estate (around £7k was in his bank), problem is that his brother and mhm have already emptied his account and say his mum is having the…
-
Making a will, what we need to know?
My dad has a modest amount of savings and wants to ensure i get it without complications when the worst happens. I believe the term is a simple will. What is this likely to cost in total? Is there a charge for the will and also the solicitors time? When the worst happens and it comes to claiming do they charge and how do…
-
Is my uncles will scenario complicated?
Hi guys, Looking for a bit of help on behalf of my uncle. He has asked me to give him a bit of help before he makes an appointment with a solicitor to discuss this so he is not going into appointment with no understanding of the situation. Before I start, my background is financial services. I have a very basic knowledge…
-
Property left in trust
The property is left 50% to one person and the other 50% between 3 others in a trust. I believe all 4 names are to be added to the deeds but only 3 have 50% of the property held in a trust. If for instance the property is sold in 10 years do the 3 who share 50% get any of the equity gained in the last 10 years or only…
-
Wills, keeping it in the family
We currently have a pair of mirror wills that leave the entire estate to the other spouse and then equal division between our children on second death.Can we add that, should the survivor remarry, the deceased's half of the estate still eventually gets divided between the children and cannot be passed to a second spouse?…
-
Caveat fraud
I have a probate application pending which has gone on for 18 months now due to someone applying a caveat. He has since applied two further caveats in different names from the same address and has not put in an appearance to any warnings, simply applied the further caveats in response using various family members names. I…
-
Witholding payout to beneficiary
Are there any circumstances where the executor of a will can withhold/delay the inheritance money being paid? For example, if the beneficiary was a drug/alcohol addict and the money would likely be used to fund their addiction. The concern is that they could even kill themselves by overdose/abuse if they were to come into…
-
Inheriting an item
Hello, I'm new on this site and live in England. I'm just doing a bit of research on wills and inheritance etc and I can't seem to find anything regarding how long a person would have to wait to receive an item left in an inheritance. My uncle has a painting that he would like to leave to a friend. Assuming that this…
-
Haphazard gift giving
My mother left an estate of over £500,000. Over the last seven years of her life, she consistently gave a minumum of £14,000 per annum to myself and my sister (some years giving more to one of us than the other). She had a vague understanding of inheritance tax allowances and considered that to be comfortably affordable…
-
Amendment to wills
Just after a bit of reassurance hopefully. Wife and I had discretionary trust wills drawn up 12 years ago,simple affairs but probably into IHT territory. I made the mistake of letting the solicitor be appointed as administrator and legal agent which I now want to remove,is it sufficient to put a note with our wills signed…
-
Enduring Power of Attorney?
Does anyone have any knowledge of EPA? My father, who is still capable of dealing with his own affairs, has an EPA which was completed a number of years ago. It shows My brother and me, jointly to be his attorney, should it ever be required. My brother has moved abroad. Today, my father showed me a letter he had received…
-
IHT and Property
The ongoing saga with the will that I am a beneficiary from ! This doesn't effect me but impacts on a fellow beneficiary and I am trying to support her at the moment. She is the partner of the gentleman who died. No marriage or civil partnership. The total amount of the will is in excess of £1million. There are two…
-
Discretionary Will Trust
Hi, So my Dad has just passed, leaving a NRB discretionary Will trust written in 2002, with his surviving spouse and 3 children as executors, beneficiaries and trustees. Spouse lacks mental capacity and is in a nursing home. Property is owned as tenants in common. Question - dad wanted to prevent his estate, worth Ca.…
-
inheritance tax allowance
HI I am in the process of calculating inheritance tax. My uncle left an estate, valued at £720,000. There are three beneficiaries, two are me and my brother (his nephews) and the other is my late uncle's brother. I am completely confused with the inheritance tax allowance. I have a few questions: 1. Is the inheritance tax…
-
Dealing with shares
Hello All. I am executing my Mum's will, and have dealt with nearly everything apart from her shares. She has several, most of which are not worth too much on their own, but all together add up to a reasonable amount of money that I need to acquire and distribute. My problem is that I am finding instructions from equinity…
-
Solicitor closed down for dishonesty, joint executor
Hi, I'm joint executor with a solicitor in respect of my late Uncle. Solicitor has been closed down for suspected dishonesty. At present his whereabouts are unknown. Probate has been granted and the bank has closed down my Uncle's account and the money (6 figure sum) sent to the Solicitor, 3 weeks before his practice…
-
Who can witness a will?
A beneficiary cannot witness a will. If the beneficiaries are the children -all of who are married then can the spouses witness the will or not or the children of the beneficiaries if they are over 18? The only listed beneficiaries will be the children.
-
grant of letters of administration
Hi all, Brother in law has recently passed away without leaving a will. He has an only son that will inherit everything, (divorced 15+ years ago). No inheritance tax to worry about as the estate will be worth about £70k, (mainly a small property). I understand from various websites that we need to get a "grant of letters…
-
getting a house put in your name
wifes mother died a few weeks ago in her will everything was left to the wife..the deeds to the house are in her mothers house and my wife has the will...what do we need to do to get the house put in my wifes name