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Wills
My husband and I own our house as 50/50 tenants in common. We have taken out a Lifetime Mortgage with Aviva. I wanted to make a Trust Will leaving my share to my adult child with my husband being able to live in the house until his death. Aviva have said that this is not possible. Is there another way to go about this?
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Inheritance Tax Question
I have an IHT question that I would appreciate some input on… My father-in-law died in Dec 2020 during covid. His assets were all jointly held with his wife and all were transferred into her sole name after his death (as per his will). Probate was not required as all assets were jointly held. No IHT would have been due as…
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Will Storage Question - recommended place
about 10 years ago we updated our wills and lodged them with a solicitor who specialized in wills. We also helped our parents update their wills with same solicitor who offerred a cheap joint will storage service. A few years later the firm of solicitors send they could no longer store family wills together and suggested…
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IHT402 Question - Transfer of Nil Rate Band
Question 7 asks for the net value of the spouse or civil partners estate passing under their Will or Intestacy. At the time of my relatives death all their assets (home, bank accounts, savings etc..) were jointly owned with their wife.who took sole ownership of them on his passing. My relative had no other assets in their…
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Estate - Investment Bond - How to complete "Tax Declaration for an entity"
Hi all, I hope someone can help me with this, I'm struggling. My dad sadly passed away towards the end of last year. My sister and I are executors of the estate and everything was left to my mum in the will. Most of dad's assets were jointly held apart from a stocks and shares ISA and an Investment/Portfolio Bond with Life…
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Do you have to accept a bequest in a will?
Hi all. I wonder if people could give me some sort of guidance on a situation that is likely to occur for a family member An elderly relative has, in her will, left her estate to be divided equally between her daughters and their children (2 on each side so equal shares of 1/6th) and this is likely to be circa £80k. This…
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Discounted Gift Trust. URN or UTR HMRC registration?
My father passed away in November last year and at that point I discovered he had set up a Discounted Gift Trust back in 2012. The paperwork in his files contained some communication with his IFA at the time which suggested that the funds in the trust would not be subject to IHT. He and the IFA parted company several years…
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Questions about deed of variation can anyone help please?
I am looking to distribute my dads estate by the end of April. Within 2 years of death I would like to give some of my cash inheritance to my son and another beneficiary would like to give some of her cash inheritance to her son. I have read about writing a letter instead of paying a solicitor…
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IHT411 Listed stocks and shares
I understand stocks and shares ISA will need to be included in IHT411. How about if the S&S ISA is a discretionary managed porfolio containing lots of different funds? Just wondering how to deal with that..
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C1 Help please- Box 2 and also Sasine entry
I am trying to complete the C1 for my step dad's estate. I seem to have a million questions and the guidance isn't helping much. I am unsure of the wording to use in Page 2, box 2. Executors are myself, my half brother (deceased's son) and the solicitor who drew up the will. Brother and I are equal and only beneficiaries.…
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Making large gift. How do I allow for IHT?
My parent died with no cash in their estate. However, they owned a property jointly with me, which reverted to me by survivorship. As my sibling didn't get anything from the estate (though they benefited from a large gift from her when she was alive), I wish to share some of the proceeds from the property which has now…
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Married couple gifting to children
I’d like to try and understand the technical/legal position with regard to the following transaction. Married couple. One party (say the wife, but doesn’t matter which way round) asks husband to make cheque/BACS payment from his sole account) to child/grandchild as a gift (from wife). Which he does. Wife then refunds the…
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Assent help (is ID3 needed)
Firstly I am the will executor and have been granted probate. Background: My grandmother passed away and left my mum as sole beneficiary of the house. However according to the property title register my late Grandfather is also still listed as a registered owner. I am going to start the assent process to register the…
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IHT 403 - Gifts out of income where husband / wife income is combined
Although I do not foresee either myself or wife actually bothering the £325k threshold, I am thinking of creating records to support the probate / IHT 403 process on the death of either myself or wife, in the main to reduce the burden on our children who will be executors. We pass money on to our kids on a regular basis -…
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Is a lifetime trust worth doing?
Is a lifetime trust worth doing to protect house from care fees to ensure children get the inheritence? Very simple, Mum owns the house, fully paid off, worth less than £300,000, only one child and is wanting to do this to protect the inheritance for myself. I know she has to survive for 7 years after doing it or the…
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Discretionary Trust and Capital Gains implications
I wonder if anyone can give me any advice, my father died in 2005 and a discretionary trust was set up for his half of the house for myself and my sister. My mum lived in the house and died in 2024 and I am now being told that I am liable to pay capital gains tax on the property. Would this be for his half (ie the profit…
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IHT and Charitys
I am in discussion as co-executor of a will, with the lawyers working the estate. The will states house 320000 to go to a beneficiary a piece of furniture worth 2000 to go to a beneficiary and the remainder of the estate - the residuary estate to go to a British Heart Foundation. As i understand it the IHT is calculated on…
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IHT form 403
As i’m acting under a Financial Power of Attorney for a close family member, I’ve started to keep a record of all Lifetime Gifts (which will be needed for the IHT 403 somewhere down the line). I’m obviously fine with knowing what has been gifted since I’ve been involved (one gift on marriage of grandchild), but going back…
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Will / LPA
Hi all. Bit of background. Wife's Aunt and Uncle 85 and 89. (Father side) 2 Sons, both estranged not spoken to for 30+ years.Eldest re acquainted last year for about 7 months but in Oct cut all contact again. We are assisting with things like on line shopping,helping to fill out Benefits etc but they have Life Assurance…
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solicitor intervened
My solicitor has been intervened by solicitors regulators agency. my will is now in the S R A archives . updated my will April 2025 cost over £400 so that's all down the pan now. what's my next move in this situation
