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Capital gain of disposal of property
I’m just selling my fathers house having now obtained probate. He passed away last year. The probate value was £580k and the sale price will be £635k, so I believe CGT will be payable. The house remains in my fathers name and the estate is selling the property to distribute the funds. Does the estate have a CGT allowance…
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Can a UK citizen opt out of US witholding tax on Inheritance payment?
We have been left some money by a US relative who has sadly died. The US forms all ask us if we want US Federal and State tax witheld at source or not. Then warn about fines if we answer wrongly. We have been unable to find out what the rule is, as we are UK citizens. Anyone know, or know how we can find out? (We provide…
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Cheques from deceased person
Last year, a dying friend wrote a number of cheques for
several people not included in his Will. The majority of the cheques were not
banked and have been handed over to the executors. There is contention about
the status of the cheques. Some recipients believe they will receive the sum they
were gifted following grant of…
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CGT Question
Hi all, I've inherited half my mother's house. The other half is my half brothers and he still lives there and has an IPDT so he can stay as long as he wants (which is fine) He has no will, yes I've tried but it was a hard slog getting LPA and despite everything I have done/doing for him he seems to think I am only after…
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Question about gov.uk online probate service
My Mum died April 2020 interstate.My Dad did not apply for probabte as he said he didn't need toHe passed away December 2024 interstate. I have letters of administration for my father.I now need to apply for probate for my mother inorder to sell the family home and access a unit trust in my mthers name. There is no IHT to…
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C1 form Inventory Page 3 question
Hi, I have found previous posts a great help thanks and I am clear on a lot of the C1. One thing i'm not clear on however is as this is an excepted estate, do I need to add to the inventory any gift under threshold, or refund from the care home?
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Obtaining Crypto funds after the death of a loved one
Hi, I lost my partner New Years Day 2024, and he had an active Crypto account. I contacted Crypto last August who blocked my access to the account. They received all the relevant documentation, ie death cert, Proof of probate etc. In Jan this year they advised they had processed the request and would pay the sums, with no…
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Confirmation in Scotland For Mother's Estate
Hi, as with others given potential solicitors costs, I intend as Executor of my mother's estate to do this myself and for the first time. I think I have managed to gather most of the items for the inventory (C1Form) in terms of savings etc. It is regarded as a large estate ie over £36k. There is a will which in the first…
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HMRC IHT checker tool query 2: gifts to spouse
The checker tool asks "What was the value of the gifts they made in the last 7 years?" The instructions state that small gifts under £250, and annual gifts under £3k shouldn't be included. But, it doesn't mention gifts to spouse, which I am sure are exempt from IHT. If you take the instructions at face value, it gives you…
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Buying out siblings share of inherited property question
Hi, Its been quite a drama trying to buy out sibling's share of inherited property (split 50/50 between two). Family employed Co-op to handle the probate. We are living in the inherited property. My partner is the executor of the will as well as beneficiary. We were told in order to buy out the sibling, we needed to…
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Gifts and IHT
I am thinking about IHT and gifts. I am aware that gifts to charities are exempy from Income and Inheritance tax. And also, that £3,000 in total can be gifted to others and are exempt from IHT. However, looking at the HMRC paage at https://www.gov.uk/inheritance-tax/gifts, it seems to suggest that further gifts can be…
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Online or By Post?
To accompany the IHT400, I'll need to submit at least four schedules and a copy Power of Attorney, which I'll have to scan. An online application will save the cost of postage, and would probably be quicker in terms of obtaining Grant of Probate, but other than that is there any advantage?
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HMRC IHT checker tool query. jointly owned house left to spouse
Hi, my father owned a house jointly with my mother and died recently. AFAIK, the house ownership passes to the survivor, and no tax is due because of the spouse exemption. Therefore no IHT is due, and the house doesn't need to go through probate. Also my mother wouldn't be liable to CGT in the future, as she occupies the…
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Beneficiary
Hi Advice please. I'm a beneficiary of a will. I am aware all financial variables are in. It's all gone through probate. We are awaiting for the house to sell. Is it possible to request my share that is sitting in an account. My health is poor and would like to make adaptions to my home. Or do I have to wait for the…
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Probate IHT Submissions querry
I submitted my late mothers probate paper work which is now being reviewed, they have now asked for further information regarding IHT "You have not declared any exemptions or a nil rate band transfer. If there are exemptions due, i.e., spouse exemptions or charity exemptions declared in the Will, please advise accordingly.…
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value of part share of inherited property?
The property is mainly owned by a housing trust and partly by my mother-in-law who died in 2013. Her granddaughter had lived with her as her carer and has remained living there. Following my husband's death in 2023 a valuation was obtained from which the value of the family share was calculated. It has now been agreed by…
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Mirror Wills or Mutual Wills
My husband and I made what I believe were mirror wills. He left everythng to me to sell dispose of and enjoy during my lifetime but after my death stated that half of what was left should be given to charity and the other half to my kids? I did the same in mine. It was because he had trouble with his own kids and didn't…
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Increase in house value after probate granted.
We completed probate on my late father's taxable estate in Oct 2021. During probate we had the house (in Wales) valued. The house hadn't been updated in a long time and needed extensive modernisation. I had two surveyors look at it. One of them provided a RICS report and both gave me a valuation of £250k. After probate we…
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Form IHT 403
If my parents paid a full market rent for the use of a holiday apartment gifted over 7 years ago …. How do I declare this on form IHT 403 ?
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Transfer of IHT Allowance from a Death in 2010
Having just successfully applied for probate for my mother's estate - thank you to the guidance I have received on this forum - I realise I need to sort out my own financial records for when my children have to do the same for me. My husband died in 2010 leaving everything to me, 'everything' at that time being his share…
