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Do trusts over-ride wills?
I’m not sure if this the right place to ask; I’m a joint executor with my half sister on my dads & step mums will. When my dad passed away my step mum put the property in trust to my half sister without me knowing about it. And also took power of attorney without me knowing about it. does it not mean anything to be joint…
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Deed of Variation to set up a Bereaved Minors Trust
Hi, i was wondering if anybody could help me. My husband passed away very suddenly nearly 2 years ago leaving some assets to my children and me. He was young but had a will that set up a discretionary trust. However, i understand that a Bereaved Minors Trust would be a better outcome for the children in terms of tax…
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Inheritance tax rules on Industrial Disease Compensation awards
Wondering if anyone can answer this please. My sister in law's partner received a compensation payout for Mesothelioma, a form of asbestosis in 2023. He died in December 2024. They were not married or in a Civil partnership. She inherits everything in his will therefore the estate is liable for Inheritance Tax. This…
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Probate queries
I am the executor of my late Fathers estate with funds and a single property totalling under 1 million pounds (I will be claiming allowances for both my deceased parents). The beneficiaries are my bother and I. I have spoken to various probate specialists and had quotes from £595 (probate application) to £15,000 which…
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Seeing if tax is owed on estate? NOT IHT
My mum's estate is an excepted estate in terms of IHT but what about taxes that appear after death such as from Isa's mum has about £22k in of of those I need to close that down tomorrow when I get the paperwork to take to bank ,she only died a couple of weeks ago and I haven't got round to it.Will a tax demand appear from…
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Mum and Auntie have not obtained Probate but have helped themselves to my Nans money ...
Sadly, my Nan passed away in February 2021 after contracting COVID, my Nan was very close to both my sister and I. Our mum, and her sister (Our Auntie) dealt with the arrangement of the funeral (A Burial) because my Nan had purchased a Pay Up Front Funeral Plan with a local Funeral !!!!!!. It was an awful funeral due to…
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Inheritance question
Evening all, Before I goto a solicitor i'd like to rack your brains. My Stepdad sadly died on Monday, then on tuesday I received a call from my stepsister informing me that I need to act as executor. The will stated that my mum should be the primary executor with me as back up. Unfortunately my mums in a care home with…
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Simple estate?
My father passed away in October and I haven't started the probate process yet, which I know is getting off to a slow start. His estate primarily consisted of farmland and a farmhouse which are on a single deed in his name. He also had a personal pension. His will appoints my elderly mother as his executor and sole…
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Beneficiary reporting interest to hmrc
Please can anyone shed some light on this subject for me my mother passed away 2 years ago ( my dad prior), a solicitor has dealt with the estate, but has told us that gross interest was received during the administration period and that we ( 3 beneficiaries 30% each and remaining10%shared between 3 more beneficiaries) are…
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Probate solicitor wanting house sale money
My parents have passed and the house and estate is been handled by a solicitor, as they were, in my view, tricked into signing a will making the solicitor lead executor. The solicitor will not release any of the money in the bank accounts for 10 months, I believe this is somewhat normal. But although the probate has been…
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Stamp Duty implications for inheriting property with equity release
My late father's property had a sizeable equity release mortgage on it of about £300K. The property itself is probably worth about £700K. I am considering my options of what to do. One of these is to get a bridging loan, after probate is granted, to pay off the £300K equity release mortgage, so that it buys me some time to…
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Do I need to update will?
I made a will after I got divorced and the children were minors. Obviously now they’re adults, do I need to redo will or is carried through with the passage of time? My wishes haven’t changed at all.
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Solicitor Bank Account
We have a solicitor appointed to handle the estate of my late father. I am an executor, as is the solicitor and also my brother but he has chosen to have his powers reserved. The solicitor has set up a bank account under the name of the practice to handle income, expenditure and eventual distribution of final monies. As an…
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Inherited a quarter of a house what forms do I use
My parents were tenants in common. Last year dad died and left his half of the house equally to me and my sister. So I am only transferring half the house into our names. What forms do I need to complete to show this on the deeds. There is no mortgage and no IHT to be paid. I think it’s AP1 but don’t know if I have to…
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Confirmation & Title Deeds
Hi, first up thanks for all the useful information on this Forum that helped me successfully submit my late mum's estate for Confirmation through Edinburgh Sheriff Court, saving me over £3,000 in lawyers fees. We have Confirmation and are now ready to sell my late mum's house. The lawyers we have engaged with have informed…
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Tax on Interest
Hi - I'd be grateful for your help. I was Executor of my Dad's estate & his savings were in various NS&I products. Since the value was over £85k I set up a Direct Saver with them to transfer the funds as they were released. I referred to it as the Executor Account throughout the process but it was in my name. The account…
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Inheriting share of mortgaged property
A friend’s mum recently died, and she has inherited her share of the property. The house was owned as tenants in common with her mum and stepdad, who can remain living there for the rest of his life. There is an interest only mortgage on the house, which was in joint names (mum and stepdad), the original fixed rate will…
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Will trust
Dad died six weeks ago, his will created a life interest for mum. Mum, myself and brother are trustees and beneficiaries. Can I just leave the tittle deed as it is until mum dies and the house is sold? My brother is also looking to buy in the near future and does not want to lose his first time buyer status. I do know the…
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Asking solicitor to renounce roll as executor,advice please
I'm the executor of mum's will along with a Solicitor,I would like them to renounce as I'm worried about the bill being a large one and so the home that I've always lived in having to be sold to pay their bils.The home is bequeathed to me as part of the estate and I think not much more than £10k will be left from the…
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Probate - Buying House off beneficiaty/trustee
Sadly my father who I was living in house with has recently past away I and my sister are appointed executors and trustees House has been left in will jointly between us. I wish to remain and buy sisters half of house off. Can I do this ? Have heard that there is a 'self dealing' rule which needs to be applied. Any advice…
