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parents are mortgage free, married 61 years, dad died last week, house is in his name
Will mum be ok? EDIT: sorry, a bit vague - will she be ok for somewhere to live, not will she be ok if she rings an estate agent :)
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Paying inheritance tax in instalments
HI, I need to sell a property to be able to pay for the inheritance tax that is due on the estate - the property forms the vast majority of the estate. If I choose to pay in instalments then is it just a straight split into 10 equal amounts? Is it possible: 1) to pay more than a tenth at the outset? 2) to pay off more of…
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Deed of Variation query?
Hello all, I wanted to check if this sounds right with the forum - I have been searching but each situation is unique. My Dad passed away intestate recently. Mum is currently about to get executrix-dative and then we will help mum apply to get Confirmation (we are in Scotland). Dad did not have much to his name but the…
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Probate and selling house
So the government website says you can’t put a house up for sale during probate but what if you had put it up for sale before the person died? we had to put our relatives house up for sale to pay for care fees but unfortunately she passed away before we could sell it. So do we have to take it off market until probate is…
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Health & Welfare LPA
hi, just wondering if it’s ok to just register a Health & Care LPA and do the other at a later date? Or do they both have to be done at the same time? I’ve received all the documents from OPG, just have to fill them in and pay, but at the moment no urgency for financial one, as we have joint accounts, thanks
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Unusual clause in mum's will to repay debt
Hi all, I'm hoping someone can help me with this as i am very confused. I am one of four children and my eldest brother has helped my mum write a will, has POA and is the sole executor without our knowledge. My mum has said that the estate is to be split equally between us. However, he has put the following into her will;…
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Intestacy and Letters of Administration
I am the friend of the son-in-law of a gentleman who has died intestate. The deceased has two sons. He also has three grandchildren from a daughter (wife of the son-in-law) who predeceased the deceased and thus would be entitled to the share of the estate that the daughter would have received. Thus there are five people…
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Backup Executor
I have one person listed as both executor and trustee of my will. I also have one person listed as a backup executor, in the event of anything happening to the primary person. Q. If something did happen to the primary person, and the backup stepped forward as executor, would the back also become trustee?
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Executors and self-dealing
The pickle continues. I am joint executor and beneficiary of a property with a sibling. Sibling fervently wants to buy my half of the property. I am okay to sell since I don't want to live there, but we have a clear conflict of interest and not a good relationship. I've only just learned about the self-dealing law so…
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Discretionary trust - removing a trustee
I'm a trustee of a discretionary trust that was created by the will of the settlor when they died.One of the other trustees is refusing to act and no longer wants to be a trustee but they are refusing to make a deed of resignation. One option seems to be to remove them using Section 36 of the Trustee Act 1925 on the…
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District Valuer question
Hi, My late fathers estate is currently going through probate, a solicitor is carrying this out and house valuations have been provided and the estate is subject to inheritance tax. I’m just wondering what the chances of a district valuers visit is? Are these just picked randomly?
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excepted estate
i'm just organising some bank statements to take to solicitor for what I believe is an excepted estate and i have been looking at the isa bank statement.I forgot that last year when I opened a new issue isa for mum instead of keeping the interest in the isa I had the interest paid in to mum's current account each month…
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Co-Executor demanding rent.
Hi all, I am new to the forum and come here looking for some guidance. Apologies if this has been answered previously. My mother passed two years ago. Her will named my sister and myself as co-executors and beneficiaries. We had and still have a very fractious relationship. Before my mothers funeral my sister was looking…
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Setting up a Trust
I need to set up a trust, but haven't a clue where to start. Do banks do them or have I got to look elsewhere and are there charges to set up?? Any help gratefully received.
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Reservation of Benefits/IHT in Scotland
I have what I perceive to be a really complex issue so hoping for some guidance as to what to expect (Solicitor is not available for another month and I don't know if we have got that long TBF). We live in Scotland (moved here from England in 2018) and my MIL is fast approaching end of life. I'll mention @buddy9 now as…
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Dad died leaving half house in trust, what to do next?
Hi, sorry to start another thread but I couldn’t see recent posts similar to my situation. My parents, tenants in common, set up mirror (?) trust wills so that on the first person passing their ‘half’ of the house goes into a trust - the trust period is from the first parent’s death until the second parent’s death (sorry,…
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Discretionary Trust Will
Hi, I have just read a big article in the Telegraph recently about discretionary trusts being set up. I wonder if someone can give me a bit of advice. I do have a solicitor but want to make sure I have the correct information before seeing them. My dad recently died and we are near to finalising probate. The solicitor has…
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Inheritance Tax IHT400 / IHT403 submission - Reserved Interest Trust
My father has passed and entered into a Reserved Interest Trust in 2006, the beneficiaries being his children. He relinquished ownership of the investment (to the Trust), but was nevertheless able to withdraw 5% of the capital per annum (effectively tax free), which he did. Does this mean IHT403 needs to be completed and…
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Intestate situation
Sort of using this as a shoulder to cry on ,and no doubt i will get a few hard hearted responses but maybe a few sensible ones i sort of know the answer anyway as its seemingly very clear cut wifes father died couple of months ago-youngish age and out of blue -it sadly happens. she was 'close'and still very upset -will get…
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Paying Inheritance Tax
Hi Im executor of my aunts will, and have just completed the IHT400 and now looking to pay the tax bill. Im just going through the companies that will release payments direct for tax payment to HMRC and have a number to ring to confirm if they can tomorrow, but wanted to see if anyone knew if you can use FRISA and ISA…
