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Inheritance Tax - Transfer of Unused Nil Rate Band Allowance
Hello. I
have read the Gov.UK and other websites relating to Inheritance Tax but am
still unclear about one aspect as follows. My wife died
in 2011, we lived together in the jointly owned property I am still occupying
today which is valued at around £350k. If
I have understood it correctly, based on the current rules, when…
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Property in trust
a little long winded but please bare with me. Fil died and was tenant in common with his dil on a property. Fil died and has left his 50% to his 3 children with general clauses for his wife to live there and maintain property. When she dies it’s to go to the 3 children as he’s left it in trust to them. Now my questions are…
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Malicious administrator
Hi, in need of some advice here. I'm an administrator for a family member's estate, as are two other people. One has been purposefully, intentionally disruptive, running up costs and refusing to sell property which has now been reposessed as a result. We're trying to get them removed and reclaim costs they have caused. We…
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Does HMRC still give you an Inheritance Tax Reference No. even if there is no tax to pay?
Hello, I just received a letter from HMRC in the post responding to me filling out form IHT400. By my calculation, I have no IHT to pay. I filled out IH400 to show the calculation of why I have no tax to pay (the amount goes over the threshold until I apply both the NRB and the RNRB, which takes it under) and also for…
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Not applicable
Not applicable
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Probate forms for isa stock and shares
Hi everyone, I'm really confused. I need to apply for probate for isa stocks and shares only. Which forms do I fill in. I own the property as it was in mine and my husbands name. Any help would be great x
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New Will as getting married
I need to make a new Will soon due to getting married. We both currently own properties in our own names and both have adult children from previous marriages that we wish to leave our estates to. My query is around Life Interest Trust so that if I die first my widow can remain living in my house if she wishes to as that is…
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Gifts over 7 yrs
If the gifts come from joint accounts, are they split 50%? Dad used to give brother £750 by standing order and mum £500 by standing order to grandson from their joint accounts. Dad pension was slightly higher than mim. They are excess from income. Thanks
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Substitute Executor
My sister has sadly passed away. I am the third substitute executor. The first two named executors are sadly not able to act so it is left to me. There is no probate needed. Do the first two executors need to renounce in writing, if so do they need to complete a form or just do it in the form of a letter and does it have…
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Timing of paying Inheritance Tax on simple IHT400 calculation
Hi first time post wonder if anyone can help. Dealing with a close relative's IHT account which is relatively simple. He has property & savings and his gifts in last 7 years are relatively small. I've nearly completed IHT400 and believe the simple IHT calculation is applicable. I can't fathom out from the notes when…
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IHT Query (Joint Tenants)
Hi, I wonder if someone can help me because I’ve Googled this to death (no pun intended) and I’m still confused. My parents own a property as Joint Tenants (worth 700k no mortgage), they are not married. My father also has cash assets to the value of 350-400k. If my father died unmarried would my mother: - Get his share of…
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Valuing Estate
Finding valuing difficult as my partners items are in storage since eviction, all mixed up with mine. I have some key items like bike and clothes, other than that there is around £300 in a couple of bank accounts. There was an over 50's plan that partly paid for the funeral, the cash residue I assume forms part of the…
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Merged: Contacting Creditors and order of priority
This discussion has been merged.
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Overpayment of PIP while in hospital and state pension after death
Hi, My mum passed away in early January, having been first in hospital and then a hospice since early December. During the total time that she was in hospital/hospice, she was paid her state pension and PIP as usual, and then in the period between her death and her account being closed, received another state pension…
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Father died years ago,transferred house to mother
My father passed away in 1999 but transferred the house in 1995 as he had cancer and I suppose he was trying to protect mum.I was going to use her NRB at £325k and had been thinking he would have a NRB of £325k too but the him transferring the home does will that be seen as him using some of his NRB? or does it work…
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probate house contents values
i'm filling out a little form the solicitor has give me before they do the probate forms for me and it's asking about contents of the home how in depth should be when doing this the furniture is old anyway so isn't worth much at all.And clothes aren't worth much used are they,Would you just group things together and say by…
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Trust Fund distribution
Hi all I am a beneficiary of a trust fund one of seven others. The trustee has said we can have the trust fund money. The property etc is another entity. We were asked to send our ID and bank details, which we did at the beginning of October 2024. We were told the payment would be made end of October, then the end of…
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Care home fees and joint tenants
I own a house with my father and mother and I have done for the last 20 years, I am 45, this is also my only home, my father has recently had to go into care (Alzheimer’s) we cared at home for him for 5 years until mum became terminal with cancer, I had to make a decision, so dad went into care and I’m nursing mum at home…
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After grant of probate received and paying debts
After you receive the grant of probate and are then able to pay estate debts what is the process after that to show those debts have been settled and what forms do you have to send off to do that?What is the best way to do this,I assume after being paid the person that is owed money sends a letter showing that the debt has…
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Do I have to wait until probate has been granted to pay debts? and other concerns
I'm looking after my mum's estate a solicitor is assisting with the forms to apply for probate but I'm the executor and sole beneficiary.Mum hasn't got a lot of debts to pay maybe a very small pension over payment to pay back,funeral expense and a small social care bill to pay off. I'm resident in the family home that's…
