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Exemption Threshold Questions
Am currently in the process of sorting out my mother in laws estate. We are hoping to transfer the unused exemption from when her husband passed away in 1992. Do I use 325000 as the threshold amount or would it be the threshold amount at the time which was 140000? What if any documents do I need to send to HMRC to claim…
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Printing off POA firm
Do you need to print off all parts of the form that are not relevant i.e replacement attorneys and people to notify etc. These just have big black lines through. Thanks
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Distributing Estate (Possible Problems)
I'm about to start finalising the estate(s) of my late sister and BIL and would like to be prepared for some anticipated grief specifically in relation to the property. They were tenants in common and their original wills left their respective shares of their property to my BIL's sister and me - so my sister's will left 50…
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Life interest trust - time limited
In regard to a Life Interest Trust (matrimonial home, 50/50 tenants in common), if the Trust has been specified for a fixed time period (say 5 or 10 years) then although this may be unusual, would anyone be able to explain what happens at the end of the time period, assuming the surviving spouse is still with us. Thanks
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2nd Property owned as joint tenants
We own a rental property as joint tenants in addition to our family home, also owned as joint tenants. Would both properties automatically pass to the survivor without any Inheritance liability if one of us died?
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Putting life insurance in trust for IHT purpose
My husband and I do not have any children. Therefore we can only make use of the combined nil rate band of £650000 when passing the estate to our nephew and niece when we die. I have heard a lot about putting life insurance in trust as the pay out is not included in the estate and we want that money to be used to pay IHT…
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IHT403 Gifting from income
I’m looking to reduce future IHT exposure & wanted to confirm that I’ve understood things properly I’m drawing down from my pension & also have a little income from premium bonds and savings Currently I’m gifting my daughter £3000 a year via a monthly standing order I believe I can increase this as I have excess income &…
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Reseal of Probate in Australia(NSW) ( obtained UK Probate)
Hello - has anyone experience of this and able to recommend the Australian NSW law firm you used? Also,as part of the process,did the Australian lawyer become Power of Attorney from your Executor? If so,do you know why they need to do this? This has been suggested and I'm a little concerned. Thanks in advance.
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STRAIGHTFORWARD CHANGE OF OWNER'S DETAILS FOR FREEHOLD PROPERTY IN ENGLAND
My wife and her sister are the executors and sole beneficiaries of their uncle's will. He passed away in May this year and, having paid the IHT due on his estate, they have now been granted Probate. He lived in a 2 bed freehold property in his sole name, which was mortgage free, and we have the Charge Certificate and all…
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Prepaid Funeral Plans
Hi! This is the discussion thread for the Prepaid Funeral Plans guide. Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide. Thanks folks :) ,
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Searching for APS ISA's
I lost my husband unexpectedly in January and I am trying to move his cash ISA's into APS. I have already done his probate. My issue is I can't easily find which banks / building society's do APS. Does anyone know an easy way to find this out? I can't keep them with the current ISA providers. Many thanks
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Probate Application - figures requested on Probate Application differ to IHT Online Checker
Once we have done the Online IHT checker, it comes out as no IHT payable - which we expected. The printed calculation to accompany the Probate Application shows the same figure for Gross and Net Probate Value. However, after putting in these figures, the calculation throws out a different Net Value. We can identify the…
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Query about estate in will
Unfortunately been diagnosed with cancer and looks like could be not long left. I have a wife and 3 kids. Have done our wills and everything is due to go to my wife. However, by my reading currently my assets would seem to be outside the estate valuation. We own a house jointly. I have life insurance (although risk it…
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Wills/POA
My mother is alive and well, but we are trying to set things up in case things happen. A long time in the future, all going well, but I have a couple of questions and would appreciate input, as Google is giving me so many different answers. She had a will a long time ago, she can't find it now, and the solicitor who had it…
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LPA and Gifts
I am currently in good health, but old enough that it is quite possible that the LPA I made some time ago might have to come into force. I currently make gifts to a couple of friends, one almost every month and another every few months. I would like these gifts to continue even I am no longer able to make them myself.…
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US share holding on death - Etrade
I am the administrator of a fair number of shares which the deceased (a UK citizen, resided in the UK) received as part of her renumeration working for a US company. The US broker is Etrade. Etrade's website says that upon notification of death they will assign a case manager to guide executors through the process. No case…
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IHT 403 gifts
Has anyone noticed today's article by Mike Warburton (tax expert) in the DT paper ? He says that gift relief for 'Normal Exp out of Income' applies first, even before the Annual Exemption is claimed. He says this, simply because this is what HMRC say in their own manual IHTM14132 (and that is indeed the case). Now this is…
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POA vs Trustee of a Discretionary Nil Rate band Trust
If a Trustee of a NRB Discretionary Trust is also an Attorney under a POA for finance for the same person/donor (who is now deceased) and refuses to to supply accounts for either the trust or the POA (having burnt though circa £600,000 of funds in 6 years (substantially on themselves) how would that work with any legal…
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Gazette notifications
I have placed an ad (with P.O. Box) in The Gazette and it is now two months and one day since it was published. My question is do Gazette notify you of if no creditors have come forward in that period? Feels like I need some kind of confirmation before distributing estate.
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Carers Allowance after a death
Hi All, My wife passed away in February of this year. At the time I was receiving carers allowance. This ceased being paid following my submission of the "tell us once" form. In case it's relevant, I then applied for bereavement support payment, and am currently in receipt of that. Today I randomly received £739.90 in…
