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CGT - house to be left to me and nephews, also, house in limbo..
Dad died in Feb, mum applied to land registry (LR) for the deeds, filled in wrong form, then died herself. House is to be left to me and my (late) sisters children. I've heard different equations about CGT, if I sell the house and get half, £175k, will it add to my tax bill? Their dad and I want to look after their money,…
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Could beneficiaries demand this?
We seem to be now at the end of the probate. I can’t quite believe
it! A real saga! But I’m still feeling anxious. I might have a post traumatic
stress thingy of some sort. There are still some lose ends and the
distribution of the residual. Corrections were submitted to HMRC
before Christmas and the final bill for…
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Tracing Shares and following up Lost Account results
I recently opened a Lost Account search for my late father's accounts, which revealed stocks and shares with the Lancastrian Building Society, now Virgin Media. This matched a letter that I found following his death confirming that shares were held, and he was to reply to the address given. I have done this twice on his…
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Wording of charity legacy
I'm wary of leaving a residuary % legacy to a charity having heard then can be very aggressive of execs in pursuit of every last penny. A fixed amount obviously isnt ideal - does anyone have any suitable wording to solve this conundrum. Was wondering of options such as: x% of residuary estate rounded down to nearest £1000…
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Inheritance tax and gifting question
I am trying to pull together all the relevant information regarding money myself and my husband have gifted to our children so that they have paperwork in place should my husband and I pass away. At the moment I don't think the estate (on the death of the second one of us) will owe inheritance tax, but our house is going…
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Deed of Variation - does money need to be available within 2 years?
I feel I should know the answer to this but can’t find a definitive answer i am aware that the DOV needs to be completed within 24 months of date of death.I have made variations on previous inheritances ,but had the inheritance in hand when doing so.I was each time an executor,this time not. My last inheritance is…
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Grant of Confirmation - Form C4(S) for Corrective Inventory
Hi. After having successfully obtained Grant of Confirmation last year, we are now dealing with sale of deceased mothers house. But, solicitor has just advised the wrong title number cited on Grant of Confirmation issued relating to the property, and we will need to use Form C4(S) 2022 to have this amended! Our fault…
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Grant of Probate post problem
I was e-mailed by the Probate Office that my grant had been issued on the 2nd Jan but it still hasn't arrived. Somebody here posted that their grant arrived the next day. The post is dreadful in my road and we haven't had any for 10 days. Sometimes we wait 3 weeks or more. A house sale sitting on this and I am very…
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Update on Estate administration
Further to several discussions, not much on the way of progress, caveats remain in place but now one of my nephews is now claiming the house as his main residence. My brother, my potential joint administrator, has told his solicitor that his son moved in months before my mum's death and all the utilitieshave been…
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Use of Probate Services
Has anyone used a Probate Service (fixed fee) that they would recommend? I've seen it's possible to do it yourself and I might have to if the fees are too high. There's no property or assets but there is about 100K cash.
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Handling Property in Scotland with English Probate
Mother died in England and was resident there for many years so I, as Executor have sorted out the IHT and have Probate. In her estate she had a house in Scotland. Does anyone know if Probate is sufficient to handle it's transfer/sale, or do I need to convert it to a Scottish equivalent so my authority it is recognised in…
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Proof of gifts made, in preparation of IHT calculations
Good Morning, Like many of you here already do, I have started to keep detailed records of gifts made, as we move towards making more substantial gifts (likely within allowances) to our Niblings. We would, currently, be deep into IHT territory. (deeper still, once pension pots are included) Would a detailed spreadsheet be…
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Co-executor won't act, is it worth going to court and how do I minimise costs?
Hoping to hear some ideas or experiences here as every time I ask my solicitor a query, it's a couple of hundred pounds and an ambiguous answer. If I ask this it will probably cost a couple thousand immediately. Please help delay these sodding legal bills. I don't think the solicitor is totally inept but they certainly…
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Do I need to go through years of bank statements as an Executor, Beneficiary and POA?
I am currently the POA for my Mother. I heard recently of someone who had to go through 7 years of bank statements to prove that no gifts had been made. Would I and my siblings have to do this as we all know about her assets, her income and her savings? She has no hidden accounts or shares or properties. We are the only…
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Free will, has anybody used this service?
Hi, has anybody used the service, of a free will writing. Did see today, that blue cross are offering a free will service, for a small donation.
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Where do you keep your will
I have recently updated my will and the solicitor was surprised when I told her I did not want them to keep the original. It is now at home which I know is not ideal and I am considering the options. I have had a couple of poor experiences this year retrieving wills that had been left with solicitors. In one case the…
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Executor receives Deed of Variation from beneficiary: what to do?
Hi,Just wondering if anyone has found any official guidelines on what the Executor is supposed to do in this case. The beneficiary wishes his entitlement to be passed directly to someone else. One option would be to ask a solicitor, and deduct the legal fees from the beneficiary's entitlement. Any other suggestions? What…
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Leaving percentage of estate to registered charities vs lump sums
Following Mum's death last year Dad is updating his will. He isnt going to change the fairly substantial gifts to charities they had both agreed on, but has been told by his investment advisor leaving a variable portion of the residual estate to charities can "lead to problems" for the executors compared to leaving say a…
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Distribution of estate
Good afternoon I have today received grant of probate. Do I have to rush to inform bank as I'd rather leave money in there, I have another 6 weeks until section 27 expires? Also have a house sale going through and will be "stuck " with that money until I can distribute. What I'm really asking is whether I really need to…
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Trustee (brother) refuses to pay out any more money from a discretionary trust
Beneficiary has received sone money(around 5%) over 2 years from a discretionary trust but his brother who is also the trustee now refuses to pay out any more. I suppose it's essentially a family feud, this is in Scotland. There doesn't seem to be a lot of options the only option seems to be to have a court remove the…
