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Problems completing IHT403
In order to make things easier for those who come after me, I decided to complete my own IHT403, listing all the gifts I've made in the last seven years. First problem was I couldn't complete Question 7, pages 3 & 4 on my Apple Mac, the numbers came out sideways for some reason. So I switched to Chrome and that seems to…
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IHT and discretionary trusts
I’ve a question about trusts. My mother has two properties (lucky her!) and she’s put one into a discretionary trust for my brother which he’s now living in. Does anyone know the tax implications please? If mum lives another 7 years, does that mean it’s out of IHT and all’s clear? After 7 years, does the trust have to pay…
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Registering IPD Trust
Hi all, As some of you may remember my mother left her half of her house to me in an IPD. The other half already belonged to my brother. The trust is just the two of us and for him to have life interest in my half (including investing my half if it is sold) until he dies. I find the solicitor did not register the trust -…
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Confirmation - C1 - post-death funds
I’m in the process of gathering all the info needed for the C1 and am almost there (with Buddy9 help). 1. I’ve just found out a company pension payment was returned to the payee by the bank as the account was closed by the time it arrived. They have confirmed Mum is entitled to this payment and will be sending it to the…
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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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Valuations For Confirmation
Hi, We’re in the process of gathering information in order to complete the Confirmation form. We have a house and several pieces of jewellery and we wanted to check if we need to get written valuations for these? Any advice would be much appreciated.
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Understand 'Grant of Probate on credit'.
Can someone help me understand what Grant of probate on credit means exactly. To cut a long story short, I am about to challenge the validity of a relatives will, and 10 days ago my solicitor put a caveat on probate being granted. However the executor told me around the same time that probate hasnt been granted but a grant…
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Do I need probate/letters of administrauon for a small estate?
my father recently passed away and we hadnt spoken for a long time for various reasons. I am now trying to sort out his estate. As far as I am aware he had no will. He was in a care home when he passed, and had none of his own possessions there. He had been taken from a housing association flat to the care home with items…
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Cash inside intestate property not declared
As part of intestate rules, no cash inside a property is part of the estate to be retained as chattels/personal possessions of the surviving spouse. I was informed by the deceased, several years ago, that a considerable sum of money was kept in their safe inside the property. What can I do do ensure the safe is checked and…
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I disagree with the RICS valuation after probate. What can I do?
Hello, the Executor of an intestate Will (through an appointed solicitor), arranged for a RICS valuation for the property which is to be apportioned. Probate was already issued before I knew. The valuation seems to be at least 40K short of what I think the property would sell at (considering neighbouring property selling…
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Capital Purchases from Savings and IHT403
I am considering giving gifts to my children out of surplus income to avoid these gifts being liable for IHT under the seven year rule. I will still have savings and I will use these to make significant capital purchases. Two I made this year are a new car and having the house repointed. My questions are 1 With the car…
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Contesting a Will as Next-of-Kin
Can anybody offer advice regarding contesting a Will. The deceased appears to have been pressurised into completing a Will within the last few weeks of life and we now discover that all Family and Close Friends have been excluded while the vast majority of the Estate now goes to the couple of End-of-Life Charities involved.
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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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Theft by POA?
My great uncle has POA health and welfare and money for my grandmother. The money part is active as my gran cannot handle money at all. She doesn't have any concept of money, never has done and my grandfather used to handle all the money before he passed away. I've found out that my grandmother believes she has been making…
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When does income become capital for IHT purposes?
I have an income that exceeds spend by at least 25%. I save the excess but also 'gift' regularly to family out of surplus income. Question says it all really.
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Opening account for a minor who has inherited
Hi Myself and one other are executors of my fathers will Probate has just been granted. Dads will has left a share to each grandchild one of whom is only 16. The others are all over 21. The will states " my trustees shall hold my share on trust for such of the following as survive me and are living at the date of my death…
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Which bank is best for an Executor account with 3 names on the account
Hello I have tried to open an executor account for myself, father and sister with Halifax. Halifax only allow 2 names on the account. Which bank permit 3 people names on the account (we need this to execute sale of property) and are helpful and make the process simple? Thanks in advance for your advice.
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IHT404 and IHT405
If the deceased only has a jointly owned property, I understand I have to complete IHT404. However do I need to complete IHT405 as well? Will it cause duplication when entering the figure on IHT400?
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Making a will
hi all, I live in France but I have a house in the UK that I would like to leave to my son when he’s reached a certain age. My UK bank account and online bank account also to be left to him. My French assets would be subject to French law and are jointly owned with my partner anyway. It’s just my UK stuff I need to sort…
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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…
