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Can one of the Siblings do this with the House?
Hi, First of all, an General Statement: A Trust is better than a Will if there are Minors (under 18) involved and also if the estate is worth more than £500,000. True or False? Abbreviations: JT = Joint Tenants, TIC = Tenants in Common Example of 4 Beneficiaries Inheriting from a Will in England: - Specifying Share…
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HMRC will trust registration done... What now? What next?
I just completed trust registration of my Mum's 50% share of their property which is left to me and my brother (with my Dad retaining a beneficial interest). So, what do I have to do now as Lead Trustee? If we do not sell the property so nothing changes, are there still any annual reporting obligations or similar to do? I…
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Schedule 403 - gifts from surplus income
I'm currently completing Schedule 403 to account for gifts from surplus income. This is done in terms of Tax Years, going back 7 years. My mother died in late April 2023, so is that tax year 23/24 considered to be year #1 (which would mean going back to 17/18 inclusive), or year #0 (which would mean going back to 16/17…
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Creditor Pursuing Insolvent Estate of Deceased Father
Hello there, To give a bit of background my father passed away in December 2022. He was a sole trader working as an electrician who also built machinery for use in the bedding industry. My father died with around £1,000 of liquid capital, two old vehicles, a trailer, and nominal items of machinery/tools which he had in a…
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Solicitor complaint about legal rights
My solicitor told me that my step father didn't have legal rights because he had been given life rent. Roll on 6 months later and my stepfather claims his legal rights and I get the house back, it's flood damaged and all my mums possessions are gone despite being left to me in the will. If id been told about his legal…
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Life interest in property
Hi, my Mum died recently & her Will leaves her 50% share of property (Tenants in Common with StepF) to me & sibling equally. StepF has a life interest - he is an Executor, along with me & sibling but not a beneficiary. We have been told by bank that we must go through Probate before the funds in her account can be…
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Advice for DIY probate
Hi, I wonder if anyone can help. My partner and I are doing probate for his mum's estate. We plan on doing it ourselves but have a couple of questions we'd like to ask a probate expert or solicitor so we can be sure we're doing it right. Mostly it is straightforward, but his Dad (who died 8 years before) had some shares in…
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joint accounts
An unmarried couple have a joint current account. On the death of one, what happens to that account?Does the full amount get included in the Estate for IHT purposes? 50%?And what about the Beneficiaries of the Will? Is all or part of that amount distributed?Thanks!
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PA1A?
Mother died, no will, no living spouse but 3 living Children (adults over 18). Is PA1A the form needed to be filled in and sent by post if the 3 living decendants are applying? Thanks in advance
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Change of Property Ownership & Payment to Beneficiaries
Hello, My unmarried Aunt (with no children) passed away a few weeks ago. I am her sole executor. I have applied for probate. In her will she left her house (in her name) approx valued at £120k to her brother (my father) who died a few years ago. Her will states that, if he dies before her, my sister and I are to receive…
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Sisters both executives but not in contact
Hi folks I'm sure someone is in the same positions as me, My sister and I are not in contact and she has refused to be in contact for the past five years and before that it was touch and go on communications. My mother is still alive but very elderly she has made my sister and I joint executives of hers will - which is…
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Questions on will and inheritance please
Hi Please advice if a will or other document is needed in this scenario UK. England My mother owns a house which I fully funded in 2015 . I gave her the money As a gift. She has no debts and only a small amount of savings House value currently approx 200k so whole estate is less than 350k allowance for inheritance tax We…
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Tax on Interest After Death
My father died in October 2022 & we have finally sold his house. As executor I now have to finalize the estate accounts prior to distribution to beneficiaries & would welcome your advice. The estate has no IHT to pay. Since his death his savings have been gaining interest in the executor account. Do I need to declare this…
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Estimate of estate?
If the total estate is less than the IHT of £325,000 why do they need the estimated value of the estate?
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Policy invalid? Or change policy holder?
My MIL passed away on 30th Jan, her home insurance was due to renew today with the money due being taken directly from her bank account. Would the policy still be valid when the policy holder is deceased? Or do we change the name of the policy holder? Thanks
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Grant of Confirmation Applications - Main Reasons For Failure
If anyone is applying it may be useful to read the top 10 reasons for failure as published on the Law Society of Scotland website under Commissary. The article dates back to 2021 but still relevant in most respects, I imagine. I only found the article recently. Hope it helps.
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Discretionary Trust set up by Will
My father died at the end of 2022. He was a widower and
owned a property in which he was living. My brother and are executors of the will. The property and
the rest of the estate, after a few bequests, fell into a discretionary trust
set up by the will with my brother and I are named as trustees and
beneficiaries. My…
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Dispute With Sibling Re Selling Inherited Property
I am looking for some advice about my late mother’s
property. The property was left to both me and my sister in mum’s
will, we are both joint executors of the will and live in Scotland as did mum. Mum passed away unexpectedly last May and for some years
previous had been estranged from my sister. I had become my mum’s…
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Title Deeds Selling my grandmothers house
I don't know if anyone has heard of this before but im selling my grandmothers house after her recent death and the solicitor has informed me that there are 2 other names on the title deeds of the house which are the solicitors for the person she bought the house from in 1979 for £1500 she rented the house from 1959 and…
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Registering a Property Trust
I’m getting ready to register a property trust that needs to be done as when my husband died he left his 50% of our home to our son as we were tenants in common, I have only just received the land registry paperwork showing the owners of the property as myself and my son. From reading info online it looks like it’s an…