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Inheritance Tax Gift Allowance Clarity
I would really appreciate some help with this Is it possible to gift £9000 in one year and stay within the annual exemption rules. As an example, could I gift £6000 in March 24/25, which would include the £3000 carried over from 23/24, then a further £3000 in the 25/26 tax year Is this acceptable?
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Financial advisor or solicitor when looking at IHT
I was widowed with two young children. I met another chap and we married. We bought a house together. He kept his former home and another property which he rents out (his pension pot) And now we’re looking at wills. However, there are some complications with what we want to put in the will with IHT implications so should…
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Mum has died. We have differing advice from each bank/company etc. Any help appreciated please.
Hi all My wife's Mum died in the last couple of months (without leaving a will) and we are faced with a mountain of paperwork to sift through now. The credit card ones were easy to cancel because they were all nil owing. We have rang a few banks, policies and organisations and have had very different responses. I would be…
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Writing to creditors which were being paid off on minimal amounts per month
Hello, I'm acting as executor for a friend of mine and he had a number of credit card debts which had gone to debt collection agencies and other debts that he was paying off at less than £5 each month. I don't know the details but am hoping that they might agree for reduced settlements. What is the best way to write to…
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Solicitor oversight - Didn't pay out gifts to charities in mother's will, now being chased
My mother died a few years ago and so naturally my sister and I arranged for a solicitor to sort out everything to do with her will/probate, which included gifts to a few charities. Said solicitor never made any further mention about these, so when they paid out the remainder of our mother's estate to us about a year later…
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Do we really need a letter of administration?
This is perhaps an unusual situation, so just hoping someone can help. My father-in-law passed away in November, and had very few assets in the UK. He had lived in England for over 50 years, so had a UK state pension and a very small private pension, and a single UK bank acount with a small balance. His estate is made of…
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Siblings and inherited property
Hello, Myself and my 2 sisters are executors and beneficiaries of my late fathers estate. We are the only beneficiaries. We have probate and we are now looking to sell our fathers property. One sister was living with our father whilst a flat was being sold. They now wish to purchaase our fathers property using the funds…
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Solicitor as Executor/ling probate query
Great to read through this forum and would love some feedback or advice from but I am one of 4 beneficiaries, our friend passed away Feb 24, he had a will drawn up by a solicitor who is also the executor. We have a buyer patiently waiting for his house, the solicitor told us there will be no IT. Probate was submitted last…
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Late Husband's Pensions
My husband sadly died back in 2009. I have remarried in 2019 . Would I be entitled to his private pensions. Time has gone on so would there be anywhere I could find what pensions he had paid in to? I was the sole beneficiary on his Will. Thanks
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First time buyer status
Am reading conflicting information. Husband recently died and his will created a trust. He left 50% of his share to the adult children and a life interest to me. My son is looking to buy a flat, will he still considered a first time buyer if I add his name as trustee and beneficiary on the title deed. I am not sure whether…
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Leaving it organised checklist
My mother is a bit overwhelmed by all the paperwork she has. We are happy to help but I was wondering if there was a checklist to download to keep us on the right track so that it is organised for when the inevitable happens.
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IF1 form needed but stuggling to find someone to do this
Hello, Just found the when my father passed the morgage complany - Bristol and West did not transfer the title deed into my Mothers name ( sole benificary and named in Probate). They registered the probate and removed themselves from the deed. I can complete the AP1 and AS1 but need to get her Id verified. Tried the Doctor…
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Dealing with parent's estate - should I use a solicitor?
This discussion was created from comments split from: Anyone here acted as an executor of a will?.
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What happens to a property trust should the survivor unilaterally decide to downsize to diminish his
Me and my wife want to set up a property trust leaving half of our property in trust for our son pending us both dying and leaving everything to him I'm wondering What happens to a property trust should the survivor unilaterally decide to downsize to diminish his half?
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Anyone here acted as an executor of a will?
If so, how was the process? How much work was it? What was the level of 'fear' in ensuring it was done correctly?! What 'guide' did you use to ensure it was done correctly? Did anything go 'wrong' and need extra work to sort?! Or did you say, sodit and engage a solicitor?! Thanks.
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Tax rebate cheque arrived after approving financial figures for solicitor doing probate
That tax rebate that I mentioned with the cheque titled wrongly,that arrived at my home after I had already approved and signed off the solicitors draft of financial figures on Friday morning for my mum's estate and took them to the solicitor.is it a problem that the figure about £500 hasn't been included in the estate…
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Got tax refund for mum,right name but wrong title
A tax refund came for my mum's estate this morning and is very welcome and was quick but the cheque has me as a MRS with my correct initial instead of MR against my name on the cheque to be paid.Would this be able to be paid in some way like that or is it just a case of ringing up HMRC to get another cheque sent out,I hope…
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Private Pension Provision for grown up children
I am an executor of the will of someone who has private pensions. She has two 20 year old children. They are mentioned in the will and 90% is left to them and the other 10% goes to her godson who is not a blood relative. I've read that it goes to the children but will 10% still be able to go to the godson?
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Gifting nightmare
My father in law recently passed so everything will go to
the mother in law . So she’ll have the house £320K and his Money £100k and her own
money £80k. Once she passes it will be split 3 ways my wife , her sister
and brother My mother in law wants to gift £40-80k to 4 of the 6 grandchildren
in the next few months. :s It…
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IHT403 Gifts in the last seven years and Gifts as part of normal expenditure out of excess income
Hi everyone, I'd really appreciate some guidance regarding IHT403, specifically relating to gifts made in the last 7 years and these gifts falling within a pattern of normal expenditure out of excess income. 1) Do you have to list gifts made out of excess income in the Gifts made within 7 years before death section, and…
