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Inheritance tax when the property value is half held in trust
This must be a common question, but I don't know the right terminology to google it... My mother married a man (my stepfather) who had his own family, and the terms of their will was that if either die, the other could live in the house but on their death the value of the property would be split between the remaining…
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Address on Will/Trustee and executor?
Hi all, Does anyone know of a free or very cheap PO Box or similar or perhaps another option? As my mother is doing her will and has asked myself to be a trustee and executor. I am happy to do so but would prefer a Care of Address or similar due to reasons complex to explain. Does anyone know of a low cost or free PO Box…
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Deceased dies Intestate - Personal Representative
My brother-in-law died a week ago intestate…certainly as far as we have yet ascertained. He has no spouse, children or grandchildren. He is survived by his mother and sister (my wife). He has no property but across all savings and investments his estate is likely to be £40k-£50k (so administration most likely required).…
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hmrc mistake - probate asset value is wrong
I just received my unique probate code from hmrc and the value of assets for probate is wrong. Just to be clear it is correct on the iht400 but someone at hmrc typed in the wrong figure in the letter. It's annoying that they did this because we paid the iht early so we could apply for probate asap. So my question is should…
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digital will
I have paid £1.50 for the digital will service, I am wondering how I access this? Is it emailed to me, or do I have to log-in somewhere. It wasn't clear on the form how this would be 'delivered' to me. Thanks.
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Sale of property
The below document is the register for my mothers property which is currently being sold. The background is Sylvia's husband died some 11 years ago and 50% of the house was left to his wife and the remaining 50% split between their children. Sylvia is still alive and moved into a Care Home. I believe this is a tenants in…
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Solicitor and BIL are executors.
My mother in law left house and funds to be split into the 3 adult Christmas (one is my wife), minus a sum for each grandchild (4 of them). The executors are the eldest son and the solicitor that's dealing with the will. So firstly and maybe most importantly, can my wife ask the solicitor any questions about the will, in…
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Solicitors Bill 6 months after final bill
We employed a solicitor to help with getting probate on my Father's will (big mistake - he took about 2 hours to do what it would probably have taken me a day to do and charged £1500 - the difficult bit was collating all the information not filling in the form!). Probate was granted in February of this year and I paid the…
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How long to keep papers after death
Hi my brother passed away 2 yrs ago and probate done this year, so I have lots of paperwork going back years, including from his business that was sold years before he died. I know you have to keep papers for 12 yrs but how far back do the papers need to be to be kept? ( if papers older than 12yrs for example) thanks
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Property sells for more than RICS valuation
Hi there Some advice.... Property has been valued at 220k. We believe it is likely to sell for more given locale and other factors. What happens if it sells for more than 220k when the time comes? Estate will be below IHT threshold anyway, as have RNRB to increase to 500k but we are unsure whether selling for more would…
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Inheritance tax confusion
Morning all, newbie here :smile: I'm an only child who sadly lost her mum years ago, she didn't have a will so everything went straight to my dad. A friend has told me that when it comes to my dad passing away, I will be entitled to both his £325K allowance AND the same from my mother?! Is that right? I can't find any…
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Rudimentary (sorry!) questions re IHT/Confirmation in Scotland
I'm dealing with late mother's estate - a large estate and IHT will be payable. Can someone very gently answer the following. I understand that a code from HMRC is needed before applying for confirmation and that IHT400 ( and all the various subforms need to be completed). However, IHT406 ( savings/bank accounts) says that…
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No will, intestacy
Dad passed earlier this year his sister my aunt applied for administration letter on her own for her mums house )my Nan’s) We understand under intestacy that it should be 50/50 to both my nans children (my dad and my aunt) it will now form part of his estate. But we’re not on speaking terms. I have called the solicitor she…
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Title Deeds
Hi, I am a beneficiary to a property that was jointly owned by the deceased and another person. As the other person is elderly and remains living in the house, the decision was made to not claim the inheritance on the deceased half share until she had passed. I have paid inheritance tax to HMRC for this already. Since his…
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C1 Confirmation Scotland - inclusion of property from pre-deceased spouse
Hi, I am currently completing the C1 Application for Grant of Confirmation form for my father who died recently, less than 6 months after my mother. Their wills were set up as ‘either or survivor’, so my Dad was the sole beneficiary of my Mum’s estate which included a 30% share of a commercial property which Dad had no…
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IHT - dates, forms and questions
Hi Appreciate any responses Our mum very sadly passed away recently and we are joint executors (myself and two siblings) Mum's will is clear dividing everything she left in equal shares between the three of us. She was divorced and owned her home outright. Her house valued at circa 250k and we estimate the rest of her…
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Legacies received by executors taxable ?
Normally legacies are not taxable in the hands of the recipient. However, if the will gives legacies to the executors on the condition that they must act as executors would this make the money received taxable? The executors are in effect being paid for work done. Any comments appreciated.
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Post probate and inheritance tax etc
Newbie here, My story is a long one so ill try be short and give clear context, so please bare with me. I lost my father suddenly in 2021, he left a will in which myself and 2 younger brothers as executors and my mother a beneficiary. My mother took over as the one in charge of absolutely everything from start to finish,…
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C1 Confirmation Gifts
I’ve almost completed the C1 form, I couldn’t have done it without the great advice and tips I’ve found throughout the forum. My Mum gifted £12k between her 8 grandchildren last year. Where on the form should I declare this? Any help greatly appreciated.
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Money Moral Dilemma: Would I be stealing my brother's inheritance by caring for our mum?
This week's MoneySaver who wants advice asks... My mum's 85 and needs looking after, and I want her to live with me and my husband. We've agreed that we'll sell our house and she'll sell hers so we can afford one with an annex. She's also going to change her will, so that when she dies my brother can't make us sell the…
