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Inheritance tax/solicitor bills
Does anyone know if solicitor fees are taken into consideration and payed before or after inheritance tax is calculated? Obviously in an ideal world the solicitor is payed before to minimise the inheritance tax bill.
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Solicitor fees and Inheritance tax.
Does anyone know if solicitor fees are taken into consideration and payed before or after inheritance tax is calculated? Obviously in an ideal world the solicitor is payed before to minimise the inheritance tax bill.
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Help with understanding of will
I am hoping someone can help. I am looking at the will for my parents and one of them has passed away. The will states in respect of their home "I devise and bequeth subject to any mortgage or mortgages thereon as a result of my death my share and interest of and in my home known as xxxxxxxx or sother such dwelling house…
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Co-op Legal Services: Silence!
My dearest passed away a couple of months ago :( and I am the executor of his will. We never made it to get married, sadly :( Since there are two other beneficiaries (2 brothers) and I'm no expert on Inheritance Tax & Probate, I thought better to seek the assistance of a legal firm. I chose Co-op Legal Services since the…
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Can one be rushed to sell And timing of paying IHT
One of the beneficiaries has now decided 'not' to buy the property and is urging me to empty the property asap, put it on the market asap (about 10 days ago I was asked 'not' to put the house on the market, since beneficiary was thinking of buying it). Both beneficiaries (siblings of the deceased) are also concerned that…
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Executors duties when selling property
This well in advance as I am still alive. But I am old enough that I do need to think about my Will, (I have just made a new one) and about how to make things easy for my executors. I know that they do have a responsibility to get the best available price when selling my flat. But I live in a block of retirement flats, and…
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Dad recently died and need to deal with his estate/selling the house
Along with my brother I’m executor of my Dad’s will. I dealt with my Mum’s will back in March so know what needs to be done except that this time there is the house to be sold. Still waiting to register the death though so don’t yet have the death certificate. Can anyone give me a rough idea of what I need to do with…
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No will
Hi looking for some help My mum sadly recently passed away. It was sudden. She hadn’t done a will. So obviously no executor and administrator at the moment until probate I lived in the house with her (that she solely owned) and I was just wondering if it was possible to just transfer utilities and council tax into my name…
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Capital Gains on Property used for Business?
I have been using my mum's house - renting it out as a holiday rental. It is her only property in the UK. Would I have to pay capital gains tax on inheriting the property?
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Paying beneficiaries
My nephew is a beneficiary of my late father's estate. He lives in Texas. He does not want me to send his payment to Texas but doesn't have a UK bank account. He is asking me (the only executor) to pay it into his father's account as he lives in the UK, is that legal? Thanks in advance
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First time buyer status if name is added on register as a trustee and beneficiary?
My husband recently passed away and in his will he left 50% of the house in a trust for his two children and a life interest for me.I want to remove his name on the deed and add the two children name as trustees and beneficiaries. Will that affect my son status as a first time buyer if I add his name in the deed. He is…
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Solicitors, Probate and Executors
Hi, I have a question. My wife, her brother and sister are joint Executors of their late Mothers estate; which is quite simple being a property and a small sum of money. The Probate is being handled by the Solicitor that holds the Will. However, the Solicitor is now saying that in order to speed up the Probate it would be…
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Executor accounts - necessary? And recommended banks?
Most advisors suggest executors open a separate executors account into which to pay receipts from the estate and that seems sound advice. Amazed to find though that the one bank I have any time for (First Direct) has a policy of not operating these accounts, despite the connections we’ve had with them over very many years.…
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Putting the house into my name after my Mums death.
Hi, My Mum died at the end of Oct last year and I've now been issued probate. The last thing to do is to get the name changed with the Land Registry re the house. Could someone talk me through exactly what you do please and how much it costs as well please? Also is it worth bothering? as I intend to stay here for the rest…
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Confirmation Form C1 - Legitim rights
I am submitting a Confirmation form C1. The estate has: Scottish: Heritable property of £600k Moveable property of £18k England Bank accounts of £221k The whole estate is being left to the spouse except for £100k each to the 2 children (no other children) I am trying to work out whether the spouse has to renounce his…
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Empathy funeral plan
Hi all My grandmother has a prepaid funeral plan with Empathy and they have advised that she can’t get a refund as the trustees have temporarily suspended refunds. She has had the policy about a year I believe. They have said they are looking at options for transferring the policy to an FCA approved provider but I…
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Completing a C1 Confirmation form in Scotland
Hello I am currently completing a C1 Confirmation form in Scotland. In my head it is very simple. Heritable Estate is £100,000 (which is the house) Moveable estate is very little - A life insurance policy which covers the outstanding mortgage leaving a balance of £4,000 a bank account with £1,000 balance and a car in…
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Advice on what to do with share of house.
So my dad died in December and he left his share of the house to my sister's and I. My mum has the other half but he did leave her a life interest in the house so she can live there until she dies or sells it and she can purchase another house if she so wanted up to the full value of the current house. We have no interest…
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Probate - will witnesses
Hi all I was reading another thread about probate and noticed that some people have had to wait for witnesses to a will being written too. Is it always the case that witnesses are written to? If not what circumstances might trigger this? What happens if a witness is now deceased or has moved abroad? My mothers will was…
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PAT15 - is it needed
My step dad passed away and named his daughter and my mother as co-executors, but also named me as a executor should my mum not wish to undertake this role. My step dad's daughter is being extremely difficult and communications have broken down and because she has been so rude (and my mum is ill) - my mum asked me to take…
