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IHT planning/ trust funds
I was wondering if anyone can point me to a good information source/ give general advice regarding trust funds. Currently am married with young children (primary school age), we have a house that is mortgage free. I also have life insurance policy in place (level term). I was wondering (generally speaking) what is the best…
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HMRC...V.. INTEREST OF POSSESSION IN WILLS
Hi, I'm looking for some advice.My wife are looking to protecting our 50/50 interest in our house.We've been advised to alter our wills to include " interest in possession " so that if one of us has to go into care, the other's 50% share can still go to our two children upon both of our subsequent deaths if the other…
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Tenants in Common after death - what's required
My dad died in March 2022. He and mum owned their property as tenants in common. He left everything to her, and there was solicitor involvement (we had to get a deed of variation) so we thought no more about it She is now selling the property and having accepted an offer and started on the legal process it transpires that…
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Gifting, IHT, ISAs and record keeping
Hi I'm looking for confirmation around my thinking here please. I have been gifting each of my two daughters between £3k and £20k each year, over the last ten years. This has come from my personal savings (sourced from PAYE) and transferred to my daughters personal current accounts, from which they have been investing it…
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Probate where property is left in Trust for children
Hi all I have been appointed a trustee in a Will from my sister. The trustee is to manage finances and their residential property on behalf of my sisters children until they turn 21. Would this be considered a complex probate case? I'm debating on using a solicitor or going solo Thanks in advance
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Wrong will sent
What a clump I am! I’ve just been notified that I didn’t send the original will, only the certified one. Having not dealt with anything like this before I thought the certified was the all important one. My brother, the other executor l, had the original which I was unaware of. Will this delay our application by very long?…
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Brother in Law died - no estate or will
My brother-in-law died a month ago, as his only next of kin it's down to my husband to sort everything out. He had learning and physical disabilities and was in a care home, so had no property other than some clothes and toys which have been donated to other residents in the home. He had no bank account and his benefits…
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Directgov Probate Register Question
Hi On the directgov probate search why do some entries state a city name as the registry office and others say principal registry.
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Protection against care home fees
Hi does anyone know what it's called when a married couple agree to leave their half of the house to the children. So that if one dies and later the other has to go into care the authorities can only take half the house. Thanks very much
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Help with a dispute over my dad's estate
I'm looking for some information or advice in regards to a situation that has developed since my dad passed away last month. In brief, my dad had an unconventional living situation in which he resided in his friends property, rent free, over the last 9 or so years. His friend had moved away to another city. There was no…
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Query over insurance money paid into a joint account
Hi Very sadly my partner recently passed away from cancer . Before he died he cashed in one of his pension funds under critical health. He completed the forms sent by the company and these were returned and received on the 2nd September by the company Very sadly he passed away suddenly on the 5th September . The money was…
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Period of administration - HMRC timescales
Is there a way, or does anyone know what the timeframes are, for HMRC to process a period of administration letter from solicitors. I've tried calling HMRC, but I am not the executor of the estate so do not have direct contact with the solicitor to know exactly when the letter was sent, but I expect it to have been around…
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Joint account and ISA
My wife and I have a joint bank account and each of us has an ISA. We are 81 and 80 and I have a good company pension so the ISAs are to avoid tax. What happens when one of us dies? There will be more that £20,000 so will one have to be closed as the survivor will have more than the maximum?
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What next?
Probate was granted, IHT wasn't payable, house sold and all monies distributed according to the will, no CGT payable, estate accounts finalised and documented is that it or is there anything else I need to do as executor?
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Is the 3rd year anniversary significant?
Hi, As stated in my last thread over a couple of months ago, I've been in dispute with the other inheritor of a will for long while, now, and this ended up in court. The court ruled both of us should be removed as executors, and they'd assign another, independent solicitor to be the executor. I started the previous thread,…
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Docs not acknowledged/how long ?
I know it doesn’t seem v long but I applied for probate just over 2 weeks ago. I sent back the original will and they still haven’t acknowledged receipt. I can tell by the tracking it’s been received though. How long is the grant of probate taking at the mo? Simple estate, no inheritance tax to pay
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What forms do I need?
For an excepted estate/ no IHT due where we are using 100% of my fathers allowance who passed away March 2009 and My mothers allowance who passed recently, what forms need to be completed along with PA1P? Thanks in advance
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Questions on inheritance tax.
Hi all, my mother passed away at the end of September this year. The property was placed in a trust back in 2007 and the trust is in the names of us 4 children, two of us are the executors. The property is worth around £400k I’m trying to fill in the inheritance tax ‘on-line calculator’ on the gov uk website, just to get a…
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Car insurance
A dear friend died recently, very unexpected. To date we can’t find a Will. He was the owner of two very expensive cars. Whilst nobody is driving either of these at the moment, we feel they should be insured, in case of fire or theft? But how can you insure a car when the owner is deceased, and has no living blood…
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Inheritance payment bank charges
I was left a fixed sum of £8000 in a dear friends will. Her solicitor is the executor and has finally released the funds to all the beneficiaries. However, the solicitor has charged each of the beneficiaries £30 +VAT for the bank transfer. There was no mention of such charges in the letter I received when they notified me…
