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First death uses up more than half IT allowance.
Id like help to clear up a scenario Im curious about please. Im aware that in cases where the first to die doesnt use up their £500k inheritance tax allowance , the unused part can pass to the surviving spouse . But does the opposite apply? ie couple can leave 1 million between them, free of tax. . Lets say first deceased…
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Regular gifts from excess income and IHT
Today in The Sunday Times is a useful article about making regular gifts out of excess income which won't incur the 7 year rule. https://www.thetimes.com/business-money/money/article/gifts-inheritance-tax-advice-experts-tips-8nxxhjjmd Basically, which I did not realise and now do, if you have a one off unusual expenditure…
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Solicitor is sole executor but has closed and has no successor
Any advice on the following would be gratefully received... My Mam recently passed away and I found a copy of the will amongst her papers which lists a solicitors firm as sole executors. This firm was taken over but the firm that took over closed in 2020 following an intervention by the SRA. I have contacted the SRA who…
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LPA - Changing when and how your replacement attorneys can act
I am currently creating LPA's (both type) for my wife and myself.I am the sole attorney for my wifes LPA's and she is the sole attorrneyfor my LPA's We are appointing our 3 sons as replacement attorneys on all of the LPA'sI understand the default mode for replacement attorneys when replacing a sole attorney is to act…
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Form DJP
Looking to fill the above form. Look simple enough but am going to fill it myself and there is mention of conveyancer. I understand I can fill myself and a certified copy of certificate will do as original is not returned. Also he died in hospital so place of death will be the hospital address. I also understand there is…
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Will Disbursement Questions - Money Used to Renovate/Estate Agent Fees
A Will I am benefiting from divides the deceased assets with the property going to one set of beneficiaries and the remaining cash (residual funds) going to another set of beneficiaries. I would be grateful for some advice on the following. For ease, let’s refer to the property as 10 King Street. 1 . The Will gives 10 King…
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Claim on inheritance by spouse of deceased sibling.
All our existing family live on Scotland. Sadly my brother passed away in England without any children from his marriage. My Father's will clearly states that in the event of his death all the estate will be shared equally amongst his 3 children. My mother passed a number of years ago. Does the spouse of my deceased…
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Amendment to probate after it has been granted
Hi There, My Mam Recently passed away, there was some confusion as when her house was last valued. After we had applied for probate we found out that it was longer agao than we thought and have the house re-valued. This has resulted in a 20k increase in the property. My Mam was in a car accident a few years ago ( case…
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Dealing with will and debt
I am rhe executor of a will and currently waiting for probabte. There is an outstanding final bill for a carehome and a possible dla over 65 over payment. There is probably just enough to pay them but I have been told I am liable for the debts and need to pay them. Then I have also been told I dont need to pay and they…
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Inheritance Tax Gift Allowance Clarity
I would really appreciate some help with this Is it possible to gift £9000 in one year and stay within the annual exemption rules. As an example, could I gift £6000 in March 24/25, which would include the £3000 carried over from 23/24, then a further £3000 in the 25/26 tax year Is this acceptable?
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Financial advisor or solicitor when looking at IHT
I was widowed with two young children. I met another chap and we married. We bought a house together. He kept his former home and another property which he rents out (his pension pot) And now we’re looking at wills. However, there are some complications with what we want to put in the will with IHT implications so should…
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Mum has died. We have differing advice from each bank/company etc. Any help appreciated please.
Hi all My wife's Mum died in the last couple of months (without leaving a will) and we are faced with a mountain of paperwork to sift through now. The credit card ones were easy to cancel because they were all nil owing. We have rang a few banks, policies and organisations and have had very different responses. I would be…
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Writing to creditors which were being paid off on minimal amounts per month
Hello, I'm acting as executor for a friend of mine and he had a number of credit card debts which had gone to debt collection agencies and other debts that he was paying off at less than £5 each month. I don't know the details but am hoping that they might agree for reduced settlements. What is the best way to write to…
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Solicitor oversight - Didn't pay out gifts to charities in mother's will, now being chased
My mother died a few years ago and so naturally my sister and I arranged for a solicitor to sort out everything to do with her will/probate, which included gifts to a few charities. Said solicitor never made any further mention about these, so when they paid out the remainder of our mother's estate to us about a year later…
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Do we really need a letter of administration?
This is perhaps an unusual situation, so just hoping someone can help. My father-in-law passed away in November, and had very few assets in the UK. He had lived in England for over 50 years, so had a UK state pension and a very small private pension, and a single UK bank acount with a small balance. His estate is made of…
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Siblings and inherited property
Hello, Myself and my 2 sisters are executors and beneficiaries of my late fathers estate. We are the only beneficiaries. We have probate and we are now looking to sell our fathers property. One sister was living with our father whilst a flat was being sold. They now wish to purchaase our fathers property using the funds…
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Solicitor as Executor/ling probate query
Great to read through this forum and would love some feedback or advice from but I am one of 4 beneficiaries, our friend passed away Feb 24, he had a will drawn up by a solicitor who is also the executor. We have a buyer patiently waiting for his house, the solicitor told us there will be no IT. Probate was submitted last…
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Late Husband's Pensions
My husband sadly died back in 2009. I have remarried in 2019 . Would I be entitled to his private pensions. Time has gone on so would there be anywhere I could find what pensions he had paid in to? I was the sole beneficiary on his Will. Thanks
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First time buyer status
Am reading conflicting information. Husband recently died and his will created a trust. He left 50% of his share to the adult children and a life interest to me. My son is looking to buy a flat, will he still considered a first time buyer if I add his name as trustee and beneficiary on the title deed. I am not sure whether…
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Leaving it organised checklist
My mother is a bit overwhelmed by all the paperwork she has. We are happy to help but I was wondering if there was a checklist to download to keep us on the right track so that it is organised for when the inevitable happens.
