-
Probate/Inheritance Tax = another question
I and my sister have recently been granted probate with estate valued at £750000 We should be free of inheritance tax with 2 x £325000 plus 1 x £175000 I was under impression that probate would not be granted without say so from HMRC, is that right Listened to the Martin Lewis Show last week and they seemed to suggest need…
-
HM Land Registry Policy in entering reference of Staircasing in Title Register
I had email from HMLR and said that it is not their policy to enter reference of staircasing in the title register and nor would be required. (Note: I have my 100% Mortgage Deed Copy) as I am became the sole Proprietor of the flat I bought from A2 Dominion. My previous solicitor applied for a charge AP1 as a Whole for…
-
Seeking Bodies with whom to do "Due Diligence" regarding "Drafters of Wills!
Not quite in "God's Waiting Room" but one of my cousins (nearest relations) has offered to be my Executor. She is well acquainted with the procedure and is a retired Chartered Accountant herself. To this end she has been badgering me for both our sakes, to draw up a will. Her latest attempt is to put me in touch with a…
-
Well, I think I finally found out what the delays were about
Hi, So last year I made a post as to why I couldn't figure out my the other inheritor's solicitor was dragging his feet, seemingly taking months to complete the simple task of filling out one form. See: https://forums.moneysavingexpert.com/discussion/6569125/is-the-3rd-year-anniversary-significant It turns out the other…
-
Inheritance tax threshold; is main residence relief included if gifted prior to death
My parents gifted me their main home in 2020 and my mother passed away at the end of 2022 and my father passed away 2024. Aside from the main residence, the value of their savings and investments is about 700k. From reading up on this, they each with have an IHT threshold of 325k which can be combined, and this can…
-
Inheritance Tax, RNRB & QFRI Question
I hope this is the most appropriate forum topic. My apologies if there is a better one and I've missed it. Background to my questions
below I have three elderly
relatives, they are sisters and are my 1st cousin, once removed.
They are all unmarried and have no children. I am their nearest living
relative. I have POA for…
-
Premium Bonds and IHT400 form
When entering the details of bond holdings one is asked to list the bonds along with their numbers. I am dealing with £46,000 worth of bonds held in about 110 groups (reinvested prizes etc.) I presume that they don't expect us to list them all on the form? Please has anyone had a similar experience? My instinct is to…
-
Inheritance Tax
My mother died 13 May 2020 and no valid Will was found. There is a Will, which I believe my ex step father constructed. Consequently me and my three brothers (one of them is the son of my mother and ex step father) are locked in a dispute with my ex step father over my mother's estate. None of us can do probate, neither he…
-
Correct way to state different address on Will
Hello, I hope someone can help me! I recently submitted a C1 form after the passing of my Father in Scotland. It has been returned to me because the place of residence at the time of his death [nursing home] does not match his 'property address' stated in his Will. I felt I had correctly declared this fact within the C1…
-
Maybe problems of an executor
My husband has been appointed executor of a relatives will. Problem is this family member has debts mainly to a bank but they have been frozen. The family member is not paying towards the debt but the bank is sending statements of the debt but is not perusing the debt as the relative is in no financial position to pay. I…
-
IHT 400 household goods
Hi, I have inherited through survivorship, my brothers residence. I am obliged to sell in order to pay IHT. The question I have is about household goods/furniture. The furniture in the house is old and tatty, such that a charity would not accept it. I want to get a house clearance to have it removed for the upcoming sale.…
-
Lost / Draft Will
Is anyone able to advise on the following, please? My elderly uncle recently suffered a serious health event and requested that his Will is written and LPA competed. He has nominated one beneficiary in his Will and asked for a specified member of the family to act as his attorney. a solicitor was instructed to arrange…
-
Inheritance and Executors
Hi First timer so be nice! Mum wants to give me and wife a substantial gift as we've been her sole carers for 20+ years. Her estate (inc house etc) would not be liable for inheritance tax. She DOESN'T want my brothers to know about said gift, but the three of us are all executors (and beneficiaries) of her will. If she…
-
Letters of Administration and address change for Personal Representative
If any of you have obtained Letters of Administration (because the person died intestate), naming you as the Personal Representative, and you have subsequently moved house, meaning that your new address doesn't match the one against your name on the LoA, have you encountered any problems when dealing with various…
-
Part of a house in a trust
Hi all, I feel like a complete novice despite being middle-aged. To keep it brief: my mother passed away and left me half of her house in her will, specifying that it should be placed in a trust. Since then, her husband has become unwell and now resides in a care home. To cover the care home costs, I need to sell the…
-
No will, inheritance query
Trying to get clarity for a friend whos elderly mum has died. Husband died years ago. Estate below Inheritance tax threshold. 2 living children, 1 child who died a couple of years ago. Government website says estate divided equally between living children under intestacy rules. It then appears to contradict this if the…
-
My partner died and my son needs a trust account as he is the sole ben
Hi, My partner died suddenly without a will so I have to follow the rules of intestacy for probate. My 6 year old son will be the sole beneficiary of my partners savings (luckily we owned our house as joint tenants) but as he is young I have been advised I need to find an account that he can't touch until he is 18 and has…
-
Cheque made out to the estate of deceased person
I have been sent a cheque from a life insurance policy in respect of my late husband. I am the sole beneficiary of the estate and there is no liability for inheritance tax, I am also an executor. The cheque is made out to the estate of ........ Can I pay this in to my bank account, his accounts have been closed.
-
When to post notice in Gazette?
I've not managed to find anything definitive about when to place notice in Gazette - some places say after grant of probate. Is there any reason I cant/shouldnt do it before probate - seems like the sooner done the better? Thanks
-
Sell shares quickly?
Just received probate today and getting up to speed with how to distribute an estate. Believe the estate will have its own capital gains allowance of £3000 for this year to 5th April (and for the next 2 yrs). The estate contains some shares with a gain of about £1000 that I think it would be advisable to get sold before…
