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Premium bond winnings after death (12 month period)
Whilst premium bond winning are tax free when you are alive, if premium bonds are kept for the 12 months allowable post death, is it a correct assumption that any winnings in the period are taxed at the prevailing rate for the beneficiaries? For example, if £500 was gained in winnings, split 40/40/20 between a 40% payer,…
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House valuation for probate purposes
Hi folks I need a house valuation for probate the solicitor says she needs one.I'm wondering will an estate agent bother visiting to do a proper valuation if it's for probate or should I say I'm thinking about moving,either way I will need it in writing I know if you're doing probate yourself you can estimate or use…
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How long to keep deceased's paperwork from before they died
Hello, Just tidying up paperwork for an estate that I have just finished, which had a LOT (40 years worth) of paperwork. At the time I kept most of it because it helped track down any banks, stock, etc. I have got rid of most of it till about 2017 ish but thinking I properly can rid of most of it apart from 2 years before…
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Will witnesses questionnaire from HMCTS …..
Anybody come across this? The executor of the will says the
delay in getting probate, 30 weeks in total, was because HMCTS sent a
questionnaire to the witnesses of the will and the witnesses subsequent delay
in responding. The executor tells me there were questions such as "did you witness the will being signed?". He knows…
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Using a solicitor for probate
I've got a meeting with a solicitor to get help with probate which is a fixed fee( £1200 plus vat) thing. I assume I will be doing the leg work to keep costs down obviously they wont be doing the whole thing for that price with solicitors fees.I can borrow that money to pay that but I'm wondering if any other fees come…
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IHT calculation
So my partner said that liabilities such as care home bills and money owed on a property are reduced from how much the estate is worth before IHT is calculated? I thought IHT was calculated of all the estate has, then taxed and then when probate is issued you have to pay what is owed? Thank you
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Addresses in will question.
I've recently seen a solicitor/paralegal regarding a new will. All discussed and new draft will has arrived today. I'm surprised to see that there are no addresses listed for any of the beneficiaries, even though I supplied a typed, up to date list - it's just a list of names. Is this satisfactory? I would have thought it…
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I am joint executor and joint beneficiary of estate, how does this affect first-time buyer status?
I'm one of two executors and two beneficiaries of an estate that includes a piece of land. The land contains uninhabitable property, if that makes a difference (it's little more than a ruined building site). The Will states that assets are to be equally divided between us. The land is still registered to the deceased…
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Best bank for Executors' account?
I would welcome people's experience of opening Executor accounts. Any banks to avoid? Or is it better to stick with a bank you or the deceased had an account with ( eg Lloyds ) Any advice on when is the right time to open one of these? Do they need all 3 executors to be named? Or can one person do it alone? Thanks in…
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How quickly can spouse get control of bank accounts after death?
I want my wife to be able to get control of my bank accounts as quickly as possible when I die. She has no income and so will need access to my accounts ASAP. I have not made a will because we have no children or others. Roughly how long does it take for the process? Would it be any quicker if I made a will?
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Executor - without being asked.
Hi. A relative has been told that they have been named as the executor of a friend's estate. This came as a surprise. They might also be a beneficiary, but no details have been provided yet. They weren't asked at any point to undertake this role. Is it a 'valid' role if they haven't been asked? Thanks.
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Executor accounts,how would you make payments from one?
I know I'm getting ahead of myself but I'm wondering if I'm made to set up an executor account when I handle mum's estate how are debts paid from that account for example my mum has an outstanding care bill.with a normal bank account you could pay a debt by a cheque or debit card or online but how would you physically do…
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Death of a parent with Tenant in Common
My mother recently passed away and was tennant in common with my dad. Her half as her wishes in her Will have been passed to myself and my sister. What form do we need to complete to update the Land Registry of this update? Any help and advise with this would be gratefully received. Thank you!
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Inheritance tax advice sought
Hi, Seeking any good advice please. My mother died in October 2024 and my father a long time back in 1992. Mother never remarried or partnered. Am I able to use nil rate bands for my father (money and property) to be able to have a £1M allowance now as I complete probate for my mother, or as there was 32 years between the…
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Deed of Variation and probate
Ok, those who have seen my earlier post who directed me to seek professional advice, thank you. I have done that and we have decided to do a DOV and give my mum the property which was given to us children (this is for many reasons, but mostly I don't think my dad expected to die so young and he wouldn't have wanted my mum…
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Transfer of nil band tax rate - completely confused, any help appreciated
Hi Everyone, any help appreciated as my mother and I are stuck as to what to do next for her ref moving my fathers unused tax threshold. Context. - My Father passed away Feb 2023. More by luck than design he was a very straightforward man, joint bank account, joint savings, both Mum and his name on the property. When we…
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Empathy Funeral Plan
Hi I've just been informed that I will get 4% of my money paid into the plan back. So £1780 gets me £71!!! I am livid. OHaras refuse to answer the phone, emails by OHaras have basically said there's nothing to be done. Where's the money gone? Why didn't Empathy inform me they ceased trading? Surely this is criminal? I'm…
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Family home is willed to myself and to brothers. Can I Buy them out and Rent it back to them?
Hi all. My mother recently passed away leaving my father and brother in the family home. We also have a Step brother and the 3 of us are willed the house. My brother wants to continue living there after our father passes, so I'm trying to figure a way this could be done as he is currently on the sick and not working and…
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Deceased parent beneficiarys help!
Recently lost my dad at a devastating age and I need some advice please. Dad had 4 children, 3 biological and a step child. He isn’t on anyone’s birth certificate and we never amended it or changed the birth certificates. He has a good pension pot and worked throughout his life. He didn’t have any nominees on his pension…
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IHT, gifting and taper relief.
In dealing with our late mum's estate I made the assumption that some cash gifts that she gave to her grandchildren over 5 years ago would attract taper relief. However HMRC have told me that this doesn't apply since the total value of gifts made is less than the NRB available- in this case £650k. Whilst I have no reason…
