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Gifts over 7 yrs
If the gifts come from joint accounts, are they split 50%? Dad used to give brother £750 by standing order and mum £500 by standing order to grandson from their joint accounts. Dad pension was slightly higher than mim. They are excess from income. Thanks
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Substitute Executor
My sister has sadly passed away. I am the third substitute executor. The first two named executors are sadly not able to act so it is left to me. There is no probate needed. Do the first two executors need to renounce in writing, if so do they need to complete a form or just do it in the form of a letter and does it have…
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Timing of paying Inheritance Tax on simple IHT400 calculation
Hi first time post wonder if anyone can help. Dealing with a close relative's IHT account which is relatively simple. He has property & savings and his gifts in last 7 years are relatively small. I've nearly completed IHT400 and believe the simple IHT calculation is applicable. I can't fathom out from the notes when…
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IHT Query (Joint Tenants)
Hi, I wonder if someone can help me because I’ve Googled this to death (no pun intended) and I’m still confused. My parents own a property as Joint Tenants (worth 700k no mortgage), they are not married. My father also has cash assets to the value of 350-400k. If my father died unmarried would my mother: - Get his share of…
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Valuing Estate
Finding valuing difficult as my partners items are in storage since eviction, all mixed up with mine. I have some key items like bike and clothes, other than that there is around £300 in a couple of bank accounts. There was an over 50's plan that partly paid for the funeral, the cash residue I assume forms part of the…
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Merged: Contacting Creditors and order of priority
This discussion has been merged.
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Overpayment of PIP while in hospital and state pension after death
Hi, My mum passed away in early January, having been first in hospital and then a hospice since early December. During the total time that she was in hospital/hospice, she was paid her state pension and PIP as usual, and then in the period between her death and her account being closed, received another state pension…
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Father died years ago,transferred house to mother
My father passed away in 1999 but transferred the house in 1995 as he had cancer and I suppose he was trying to protect mum.I was going to use her NRB at £325k and had been thinking he would have a NRB of £325k too but the him transferring the home does will that be seen as him using some of his NRB? or does it work…
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Trust Fund distribution
Hi all I am a beneficiary of a trust fund one of seven others. The trustee has said we can have the trust fund money. The property etc is another entity. We were asked to send our ID and bank details, which we did at the beginning of October 2024. We were told the payment would be made end of October, then the end of…
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Care home fees and joint tenants
I own a house with my father and mother and I have done for the last 20 years, I am 45, this is also my only home, my father has recently had to go into care (Alzheimer’s) we cared at home for him for 5 years until mum became terminal with cancer, I had to make a decision, so dad went into care and I’m nursing mum at home…
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After grant of probate received and paying debts
After you receive the grant of probate and are then able to pay estate debts what is the process after that to show those debts have been settled and what forms do you have to send off to do that?What is the best way to do this,I assume after being paid the person that is owed money sends a letter showing that the debt has…
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Do I have to wait until probate has been granted to pay debts? and other concerns
I'm looking after my mum's estate a solicitor is assisting with the forms to apply for probate but I'm the executor and sole beneficiary.Mum hasn't got a lot of debts to pay maybe a very small pension over payment to pay back,funeral expense and a small social care bill to pay off. I'm resident in the family home that's…
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NSI Index Linked Certs
Sorry if already answered but NSI bereavement info useless -but does anyone know how NSI Index Linked Certs are treated after death? * Is interest still paid? * Is there a penalty for early encashment? I spoke to the NSI help line and was told that no interest is credited after death. I find this surprising and google has…
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Inheritance tax, gifts and farms
Hi all, a few questions related to inheritance tax, particularly relating to farms (I realise the rules on farms and IHT are a developing situation, and that at some point we're likely to need to get formal expert advice). In our case, the farm has been farmed by my parents for 50 years, and they have both spent the whole…
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Solicitor refusing to respond to my letters
My mum dies in February last year and my dad in August. I am one of 4 children. And my brother and another sister are executors for both parents. My siblings have deliberately cut me out of any contact refusing to let me give dads eulogy or get involved with any decisions. And have not spoken to me at all since Dads death…
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No probate for dad or should I?
Dad died recently, he left 50% of his share of the house in a will trust for mum. Mum, myself and brother as trustees and beneficiaries. There was no need for probate as the banks released his savings on proof of death certificate for his sole account. I have settled and closed all his accounts. I am looking for some…
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Inheritance not yet received but what if I die.
Hello. My parent passed away last year and my siblings are currently going through probate. If I was to pass away before receiving my share , would my daughter inherit from the estate my share? I guess I need to make a will? I am single. Many thanks for any advice.
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Conflicting HMRC advice
Hi, I am a co-executor on my dad’s will and we struggling to confirm if we need to submit an IHT 400. Dad’s estate includes: - 50% share in the family home, owned as tenants in common with mum / his wife (his share was worth circa £275k) - joint bank account with around £100k - other possessions worth under £10k Mum will…
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Am I right - or the solicitor...
Odd situation which seems a no brainer to me: Estate has large IHT bill to pay (£300k) and not enough time so to avoid late payment penalties (ouch!) the strategy is to pay the IHT before probate using the Direct Payment Scheme from liquid assets. IHT will be an estimate using the information currently available. Not…
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Advice needed on creating a trust in will
Could anyone advise me on what kind of trust I need for my will? I want to leave everything I have to my only child at the age of 25. If I die before they reach that age, how do I ensure that their other financially irresponsible parent isn't able to coerce them into handing over any money from my estate? I know this…
