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IHT gifts from a joint current account
Hello I am asking on behalf of an elderly family member. Almost everything they have is in joint names, other than the car V5's. When both left their jobs about 10 years ago at/about the age of 60, they decided to change their separate Current Accounts at the same bank to a joint account. The husband is the first named on…
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Interesting article from the Beeb
Article about will fraud: How fake-will fraudsters steal millions from the dead - BBC News
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Solicitors (again!)
Hello, it's me again with Will Executor Blues - will it ever end?!? Back at the end of March I moved from Sols.No.1 to Sols.No.2 because I couldn't take it any longer (those who've read my previous posts know the story). The stress was reaching unsustainable levels. I thought best to move to Sols.No.2 who had originally…
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Gifts out of Surplus Income- School Fee Savings
My father is trying to assist with the preparation of school fees for our child in the future. He has a steady income and could support us with regular 'gift out of surplus income'. However, our child doesn't start secondary school for another 4 years, as such he'd like to pay into a savings account so that this can be put…
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Question regarding financial help for funeral / Over draft question.
Hi I hope this is okay to ask here and hope this doesn’t sound cold because I feel
it for asking I live with my mother (48) and have done for 6 years. My mother was diagnosed with
cancer 3 months ago. At first they said it hadn’t spread but 3 weeks later they
it had and it was very aggressive. Shes quickly getting worse.…
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Inheritance Tax Gifts and 7 year rule 2nd Death?
My wife and I have shared bank accounts. We have mirror wills leaving everything to each other. We have gifted money to our adult children. Hopefully we will both survive seven years making this question irrelevant. However, is there a way these gifts can be considered as joint, so that if one of us dies within the 7 seven…
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How to describe myself in Scottish Law?
I am trying to apply for an Initial Writ to be an Executor Dative for a relative who died in Scotland. His closest living relatives are children of his aunts and uncles (themselves now all deceased). In my first attempt to obtain an Initial Writ I described myself as first cousin once removed to the deceased, which I am.…
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Probate - how long?
Hi, I know it's been asked before but on this cold and wet afternoon I've nothing else to do but think..... Probate submitted end of June, straightforward, just bank accounts, how long can it reasonably take? Apologies again for repetition, just wanted to hear some real experiences (recently) thanks
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Rights Re Will and Pension
Hi. A very old friend of my husband and his family died approx 18 months ago. He left a Will stating my husband and brother should be given the money from his pension split 3 ways between a female relative and the 2 men.(hubby and his brother nursed him not knowing they would be left anything)We have been waiting ages to…
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When I go
When I go I want to leave my affairs in order. I am not interested in hiding my assets to avoid care home charges. I am not interested in avoiding tax on my estate. It could be circa £500,000. I have a simple will which shares my estate between two sons who are executors. I understand settlement of my estate could be…
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Credit Card Debt after Death
A family member died in February with no assets, they did have two large credit card debts that had already been passed over to a debt collection firm and they had been making small repayments monthly. I have informed both companies that they have died and that the estate is insolvent and there are not even any assets to…
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Wording of Will
A relative is making a Will. He has no dependants so it should be fairly simple. His daughter has always relied on the support of the benefits system and this is unlikely to change. He doesn't wish to entirely disinherit but also doesn't want to leave her in a position whereby leaving her a gift affects the benefits she is…
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Form IHT406: not enough rows
As I mentioned on another thread, my Dad died last week and I'm 100% sure there is IHT to pay. I've read the HMRC IHT guidelines but this is all new to me. So please continue to bear with me, and thanks in advance to the experts out there. Form IHT406 (bank accounts, NS&I, etc) has insufficient rows to report all of my…
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Leaving money to legatees who drink
Hi all, both my brother and cousin are in this position, and I wonder if anyone can help. Is there a way to leave money in trust to an over 40, who is an alcoholic, or for another reason not able to manage their own finances? Neither of these two recipients don't have capacity, but neither can manage money at all. Thanks…
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Gifts for IHT: interaction between tax years and date of death
I’ve read HMRC’s guidance notes on gifts, including the seven
year rule and the annual (per tax year) exempt amounts of £250 per recipient
and £3000 respectively. I’d like to ask
two specific queries about the interaction between date of death and tax years.
Thanks in advance for shared wisdom on these technical points,…
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Overpayment Recovery Of State Pension & PIP
Hello, Not sure this under the correct category but the nearest I could find. In Brief, My wife died last October (5th) . I filled in the 'inform everyone' form . I do recall getting a letter saying nothing was owed at that time . (need to find it) Today and yesterday I have received two letters, one regarding state…
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Am I entitled to a share of a will?
M-I-L died 10 yrs ago, Her will passed all assets/property to F-I-L. F-I-L now died & his will to be split 50-50 to both sons. My late partner (son) died 2 years ago, I was main beneficiary of his will alongside our 2 children. We were not married. Will not amended following sons death as f-I-L had dementia. Am I entitled…
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Information on burial site / grave location
Long story short, I am trying to locate a burial / grave location in the UK.I intend to pay my respects on my return to the UK but although the family of the deceased held an open to everyone funeral service , the internment was private with strictly only immediate family permitted to attend. I have written to the Town…
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Natwest Bereavement online service timescale
Anyone recently used Natwest's online bereavement service to close and transfer a deceased's bank accounts, if so I was wondering how long does it usually take to transfer the account once you've given them all the information required and signed the Release of Funds agreement? I signed mine over a month ago but not heard…
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Changing executorship from solicitors to family
This discussion was created from comments split from: Changing Executors and IHT with charity bequests.
