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Will I have to pay IHT on money gifted to mother from husband then on to me?
I've been trying to find an answer to this for a while to no avail. The situation is this, my father has decided to pass me and my sister most of his estate while he is still alive. He is in poor health and I guess is thinking about the future having just lost his partner. He has granted me and my sister power of attorney…
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No official Will in place.
Bit of a long story this one so please bear with me. My mother and stepfather met in 1979 but never married until 2006. There are 2 daughters and me on my mothers side and also an adopted grandchild that my mother and stepfather adopted as my sister (her mom) was having mental health issues back then. We are all in our 50s…
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Will IHT changes only apply to someone who dies after the changes are announced?
If Labour change inheritance tax laws, will these be back dated to someone who died before the changes are announced? My mother died in September this year and I’m wading through the admin to apply for grant of probate. I am wondering if any changes would affect us by being backdated, as it’s unlikely I’ll complete the…
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Help progressing probate
Currently helping a close friends son apply for probate/letters of administration after my friend passed suddenly, and didnt have a will. There was a delay waiting for proof of his divorce from 16 years ago, and we thought probate was being progressed now we had it. I'm helping my friends son (he's 28) apply as me and my…
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Need advice about wills, probate etc
Hi all I've just joined the forum for some advice as I'm in a difficult situation.. Mum is 90 has Alzheimer's and is very vulnerable. She still lives in her own home which she owns. Now the problem is my older brother still lives with her he's 55 and a drug addict he's worked full time all his life then got involved with…
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CGT query on second spouse death
My colleague has this problem and I thought I would come here for advice. He is one of 5 siblings, all living. His parents were married to each other until the first death. In 2015 the parents made mirror wills and also severed their joint tenancy to become tenants in common. The wills stated that, for the first to die,…
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Stepdad has remarried advise about family home
Hi, I wanted some advice. My stepdad married my mother nearly 30 years before she died last year. He was left with our family home after she passed away. He always advised my sister and I that he had made a will and left us as sole heirs as he didn't have any children of his own and hasn't spoken to any of his own family…
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Inheriting half of parents house & responsibilities
My parents own their house outright. They've put in their Will for me and my brother to have half each of it. My brother is currently living in it with them. He doesn't work , I doubt he ever will (work shy) . I'm not sure what benefits he's on either. He has said , when parents both die he wants to continue living there.…
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Interim Payment after probate
My brother is executor of parent’s will..both have passed now. Mum passed in May this year. It’s just us 2 as beneficiaries and mum and dad had an uncomplicated life, so there won’t be any unknown potential claimants to the inheritance. Brother has worked with a solicitor on probate, and I believe the stage we are at now…
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Capital Gains Tax
I’m wondering if anyone can advise/ has experience of this situation please? My sibling lives at my parent’s house, I live in social housing, when parent passes, as it stands the home is left 50/50 with a caveat of 2 years for sibling to decide wether they want to sell or buy me out, which in turn gets me on the housing…
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Will writing services (new CMA Guidance)
Saw this and thought of you (regular posters). This link is to the public facing guidance. https://www.gov.uk/government/publications/what-to-consider-when-buying-will-writing-services On the same day the Competitions and Markets Authority issued an open letter to unregulated legal services providers including Will…
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Executor bank account
I am thinking of opening a joint executor bank account with my brother as we are both executors to our mother's estate. Has anyone had experience of Natwest?
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Inheritance Tax Claim to transfer Unused Nil Rate Band
Hi, I have just found out that I might be able to Transfer my wife's unused Inheritance Tax allowance but looking at Form there was a Deadline of 2 years to fill in the form but my wife passed 6 years ago. Is there any way to get around the deadlines would anyone know? or another way for me to claim the unused Allowance?…
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Post-death income on fixed term accounts
I am the executor of my mother's will. IHT has been paid and accepted by HMRC. The estate had eight fixed-term accounts in my mothers name. All have been transferred to the six beneficiaries. The accrued interest on these accounts is paid out only on closure or maturity, not on death or transfer. Therefore the accrued…
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IHT Property Sale expenses deductions
Hi My deceased mothers house is about to be sold. Valuation on IHT form (Accepted by HMRC) £830,000 Sale price £831,250 But there will be agents Fees , solicitors etc decucted so net proceeds Approx £815,000 Can I use IHT 38 to reclaim some IHT based on Nett proceeds? On first reading it seems not but perhaps a claim for…
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Person with PR in prison. Trying to apply for probate.
Very awkward position. My daughter had 2 children with a very controlling man. They ended their relationship 6 years ago. They were never married. After their breakup, he was sentenced to a very hefty prison sentence but still has parental responsibility for the children. My daughter lost her life due to his psychological…
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POA on single account and joint account help please
Hi I have a POA on my grandfathers current account and we also have a seperate joint account. I am thinking to move his current account balance to our joint account and then use his current account for day to day bills. This, of course would also help ‘when the time comes’ and would save any probate or solicitors fees in…
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Gift - or wait ‘till I’ve gone…?
Hi, am considering my will as have currently have assets worth thinking about. Lucky me. Several close friends have children - I say children, but they are of course growing up. I’d like to include them in my will to the tune a a couple of thousand pounds each, but if we all wait till I die, that will be x years away. It…
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Awful solicitor
Hi there, am a beneficiary of my mothers will (who died 2020, probate granted Dec 2021) and feel that the solicitor has facilitated the administrators complete and utter failure in fiduciary duty to my brother and I in that it has taken 3 years to sort this out and we are finally getting inheritance in the next week. I…
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Asset/Estate Planning Advise
Hi My parents have asked me to look into possible ways to protect the family home and some savings they have from being used by the government for care costs if needed in the future. At the moment all we know is they own their house outright as Tenants in common and would be looking at ways to protect all or as much as…
