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House valuation for IHT/Confirmation but with possible CGT implications
Dad passed away last month and my brother and I will be selling his house once Confirmation has been granted. As well as Executors of dad's estate, we also own half the house which was left to us as part of a Liferent Trust when Mum died last March. We are just trying to consider the best way to get a valuation done for…
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Inheritance tax 2nd installment
Hello, My mum passed away and I received probate last year. I am paying the inheritance tax in installments and it is now under a month until the anniversary of my first installment. I understood that HMRC would write when my second installment is due, but I haven't received anything. I've tried calling their inheritance…
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More questions about LPA
I do have a friend who I would trust to do LPA for me but she's only ten years younger than me. If I live to be 90 she will be 80. What happens if you set up and register a LPA and then the person appointed dies or becomes incapable before you do? Do you have to start all over again? What if I have a long term incapacity…
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Probate Form
Hope someone can clarify Question 2.13 asks about relatives legally adopted. Above the question it states 'only answer this question if no executor to the will is applying' Does this relate to this question or the question above re land. Thank you
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House valuation when house sale will be needed to pay IHT
Hi there, I am executor for my father's estate and his house value means that the estate will be well above the level where IHT is due. However, until the house is sold, the estate will not have sufficient funds to pay for the IHT. I'm aware that the IHT can be paid in instalments over 10 years with the first payment…
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Updated will found
Hi, Asking on behalf of my brother (based in Scotland) His girlfriend passed away then her mother passed too. Her dad passed several years prior. The solicitor had said that the estate was intestate and began to identify cousins. The solicitor has almost completed finalising the estate and has found a newer will. It was…
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Transfer of title deeds after death of partner
Hi everyone i have recently lost my partner (not married) to cancer. We owned our present property jointly and I now wish to sell the house so that I can move on I have probate and was the only beneficiary in his will with no one to contest so it should be fairly straightforward does anyone know if I can do this without a…
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Bank statements for the deceased
I am the executor for a family member's will, and all their bank statements are online. The amount the bank holds is big enough that the bank want probate first. Are they obliged to release bank statement details to the executor? I've requested via post but not had any response, and really need sight of the bank statements…
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IHT - utility account transfers - credit balance impact on estate?
Box 76 on IHT400 includes "any refunds from gas, electricity or water suppliers". I'm wondering what the position is when the utility accounts were held in the deceased's name but are then transferred to their spouse's name after death. There is no refund as such to pay to the estate, but the electricity account, at least,…
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Is this good advice from local company dealing with probate?
Husband died recently and heft his 59% in a will trust giving me life interest.Am one if the trustees with two adult children. I emailed this company and asked I did not have to do probate but on my death whether probate will be required for him to be able to claim his nil rate band . This is the answer I got As he left…
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C1 form Confirmation
Hi, newbie here and looking for some help with completing C1 form. My dad's christian name on the will is different to that on his birth certificate and address is also different as he was in a care home when he died. Where do I include this information? Also, in the inventory do I include the monthly half share of his…
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Filling forms my probate questionnaire
I'm aiming to get this Probate questionnaire filled in soon,so I've got figures for how much the funeral cost so I can put that down as a debt owed and a care bill.And I have a figure from bank of funds on day of death.So if things change after forms have been sent in,in for instance if mum gets paid a few hundred quid…
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Tenants in Common Trust and Probate
My wife of 15 years an I both have children from previous marriages so when we bought our current house we did so as TIC. We had mirror Wills made up so that on the first death, the share owned by the deceased goes to their children but the survivor can live in the house till they die (with provisos). My wife died a few…
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Father has suddenly passed away; what happens to his bank account
Hi Guys & Gals, Having an awful time; moving house, was going to bring my father with me, but he had a heart attack the very same day I collected the keys. Some advice on the following would be appreciated My father and I had a close relationship, and what was mine was his, and vice versa. His bank account has about £11k…
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Inheritance tax - which forms do I need?
My late father passed way in September 2024, and I am doing the probate forms myself. I've now got to complete some inheritance tax forms, but unsure which I should use. The house is worth £650K probate value, with a £300K equity release mortgage on it. There is £100K in savings. My mother passed away 5 years ago, and did…
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7 year rule confusion
I thought I knew all about this, but a recent discussion with my partner has got me a bit confused. Example: I give a close friend £10k next week, then I die the week after. If my estate does not exceed £325k, I assume the friend (or rather, the estate) does not have to pay 40% IHT on that £10k? Or does the 7 year rule…
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What happens with Title Deeds if there are more than 4 people?
Hi, I'm hoping someone can help with the following who has been through it before... My father passed away leaving a property, there are 3 names on the Title Deeds for this property (after his was removed). I need to add my brother and I to the deeds to replace our late father but, as per the Land Registry instructions, I…
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Restrictions/ trusts
have an RX1 restrcition on my mortgage due to my ex partner taking out an IVA, we were joint owners originally, but this made us tennants in common. Sadly he has passed, the IVA I believe is completed, due to a letter I have found but I cannot find a certificate of completion. Can I apply to get the restrcition removed and…
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Inheritance tax - basic question
Is inheritance tax based on what individuals are receiving or the whole house/estate? Say the tax threshold is £500k. Anything over this is taxed. Say the estate in question is worth £1million. Say the £1million is split between 4 siblings, so £250k each.... Is inheritance tax paid 'at source' because the amount of the…
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Grant of Confirmation in Scotland
I am in the process of completing the form, being executor of late cousin, however his mother predeceased him and he had not completed dealing with her estate and there is an estate value to deal with. Can you advise how this should be entered in the inventory? Also I now have to deal with the Grant of Confirmation for his…
