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Intestacy, Joint Tenants & IHT Liabilities?
My father has just died without making a will. He is married to my mother and I have one brother. His assets are; Marital home owned with mother as joint tenants - £225,000 (value of his half of house)Rental property owned in his sole name - £425,000Savings and cash in bank - £125,000TOTAL - £775,000 My questions are; As…
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Inheritance tax
My mums estate comes to 309,897 with no house to sell . She has no debts but on the gov website it says her assets in the estate are 619.794 . I don’t understand why we need to pay any tax as she is under the threshold
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Contacted By Heir Hunter
Hi My estranged brother died in July . He had me down as next of kin even though we had not spoken for 20 years long story no one spoke to him due to things he had done. As far as I know he died in a homeless shelter. The council paid for his funeral. We have now been contacted by an heir hunter who on first conversation I…
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The next steps, how do I close a bank account after a death, and release the funds
The current account is with nationwide. Unfortunately there is no will, no property, no vehicle, no other assets. Just a current account, with less then £2000 and a small work place pension. The account belongs to my sons father, we did live together but we were separated but co parenting. A funeral needs to be paid for.…
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CGT on sale of shares (proceeds being split)
My brother has just sold some shares which has belonged to my mother's estate. We are joint executors and we have a question about CGT. The shares have luckily gone up in value since she died and we are therefore unsure what happens with CGT. Will it be liable? Or if it is directly related to the estate it is allowed not…
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Confirmation for will in scotland
I’m executor the estate is slightly over £36k and all cash in a couple of different banks The banks don’t require confirmation to access the funds. But do I still require confirmation? I do have a solicitor involved but they take weeks to come back to me with answers, and previously wanted hundreds to apply for…
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IHT calculation question. Funeral costs paid directly by deceased's bank to Funeral Director.
I think the answer is obvious, but I would like to check this if anyone can help. I've worked through the online .Gov IHT/Probate calculator to establish that my late father's estate falls under the excepted category. As part of the calculation, there is a box to complete covering funeral expenses. My father's bank are…
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Living trusts prices
Just made a will, have a quote for a living trust inc POA. Is £5,400 + annual management fee excessive?
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Selling valuables before probate granted
Does anyone have experience of doing this? I know it's not advised, but I won't be able to market the house until the valuables are removed, and storing them elsewhere is not going to be possible. Thank you in advance for your thoughts and experiences.
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Is there a section for Funerals and related costs?
Title says it all, just wondering if there is a preferred section Is there a section for Funerals and related costs?
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Will queries
Hi, hoping for some guidance here regarding my mums will. 50% left to my brother 25% to me (daughter) 25% to granddaughter (11) Stated in the will no money should be left to her partner. She was still legally married to my dad but no mention of him. When she left my dad they sold houses and split money. She has roughly…
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Probate online search site issues
Hi, Has anyone seen anything about the maintenance to the probate search site? (When they think it will be back) It has just shown the 'Sorry, the service is unavailable' page for the last few days but no other info. Search probate records for documents and wills (England and Wales) I tried to Google for details but…
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Small Under declaration on Probate
Hi On filling out probate for my late Dad by mistake I under declared the amount is the bank by £50 will I have to let the probate office know.
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Capital Gains Tax on house
Hello all, just a quick question. I'm shortly having my dad's house valued for probate but it will likely need some money spending to get it into a sellable condition. If I put some money into repairs and it sells for more than the probate estimate can I offset the cost of the repairs against this? (I doubt it but worth…
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Paying for Funeral
Hi, My cousin's brother has died. He was on PIP and Universal credit due to kidney problems. He has recently died. My cousin is not in receipt of benefits but doesn't have a lot of money. She has not spoken to her brother in 39 years following relationship breakdown. She has refused to pay for the funeral. What happens…
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House valuation for IHT400
It looks like my mother's estate may just tip over £650k (my father died earlier this year). If it does, I will need to fill out a IHT400. Tomorrow I have three estate agents coming round to value her house, but if I need to fill out IHT400 is this considered sufficient? I believe I'll be entitled to RNRB, and the IHT…
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Deed of variation
I recently received an inheritance from my mother which I would like to pass directly on to my two adult daughters. I know I can do this through a solicitor at a price, but wondered if it is safe to do it with a free downloaded form. I am a bit wary of putting all my details out there. It is a very simple estate with no…
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Family home
Hi there, I am told by my lone parent (who I live with) that the will, including the house will be divided equally between us 3 children. What are the consequences of this regards the family home ?For example, can any one person decide to act independently ? Or are they in effect, able to be outvoted by the other two ?…
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House valuation - Probate & inheritance tax
I'm dealing with an estate where the first spouse died 5 years ago and left everything to their partner, so I believe the estate has a £1m threshold. The value of the estate is ~ £640k, so there is plenty of headroom. But I'm struggling with the house valuation, and clearly want to avoid under valuing for IHT and then…
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Sell a house in trust before surviving spouse has deceased
Hi. My father 100% owned my parents house. He passed away 4 years ago and left it all to a trust for his children, with my mother allowed to live in it for as long as she wanted or needed. She has recently permanently moved in with my sibling as she is no longer able to live independently. She is happy for the house to be…
