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Process for probate with IHT payable
I am supporting a friend whose parent recently passed away. They are the Executor and sole beneficiary. The estate will exceed the £500k ceiling for IHT by a relatively small amount, plus there is some life insurance payable that I believe is outside of the estate. Can someone please list the order we need to complete the…
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Finding an executor for my will
HelloI'm looking to write a will soon and know very little about the process. I expect to outlive my parents and I don't have any other close family.In that case, who should I have as an executor?Thanks
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Will aid scheme scam?
I recently selected solicitor under will aid scheme. After 2 hr phone call I was transferred to their finance department to pay £1740 for trusts to be inserted in wills of myself and partner to protect assets from being used to pay care home fees & setting up powers of attorney. I paid and also the donation of £180 to will…
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PROBATE HELP PLS
I now think I've completed the online probate firm incorrectly as I didn't fully understand the figure questions ie the gross estate amount. I thought it was the total estate amount but as there's an amount owing on a lifetime mortgage which is registered on land registry. I think I should have taken off this sum and put…
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Proper handling of will property trust for tenants in common
My situation is as follows: My grandparents set up a tenants in common trust for their home in 2005. My grandfather died in 2017, placing his share of their home in a property trust to benefit my aunts, my brother and I. My grandmother asked that I act as executor of his will. I estimated his share of their home at £175K.…
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Can I insist on an electronic payment?
As executor of a will I have several payments to make to beneficiaries. Does anyone know if I can insist that these payments are made by electronic bank transfer as we do not have a cheque book?
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Probate
As there is property probate will be needed there is also cash in the estate. The beneficiary is on means-tested benefits that will end. Does the executor have to make a interim payment of some or all of the cash, or can the executor just wait till probate is granted.
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Selling property before probate granted ?
I'm acting as executor and would just like to confirm that I'm correct in thinking that I need to get probate granted before putting property on the market. It seems pretty clear as the gov uk "applying for probate" website says “You should not make any financial plans or put property on the market until you’ve got…
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Seeking clarity re RNRB, IHT and Trusts
My wife and I have 'mirror wills' Whichever one of us goes first, leaves their 'beneficial share' of our house equally to three trustees, the other spouse and our two adult daughters. So ... a couple of queries please about RNRB My initial understanding had been that the share going to the other partner would be completely…
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Inheritance tax thresholds
I am the sole owner of my house, where I live with my long term partner. In my will I have divided my estate equally between my 4 children and my partner. With inheritance tax in the news lately, and thresholds being discussed, I am wondering if the £500k threshold will apply to the portion I have left to my children, or…
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Transfer of property
Hello. Thanks in advance. Can you take me through what I need to do to transfer my father's property into my name. I have probate, I am the inheritor and there is no mortgage.
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Self assessment return for estate during administration
Hi, Does anyone have any experience of submitting a tax return for an estate administration period. I'd like to submit a return for the current year as the administration period has effectively ended and no further income will be received. The amount of estate income received during administration necessitates a formal…
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IHT Payment
My plan for taking some hassle out of probate/IHT payment, I had planned to keep our private pensions ( of moderate value in scheme of things) in place which could have been paid very quickly and used to pay any IHT. The recent budget changes has made me now decide to go down the annuity route which means I need to rethink…
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Surname Different on Grant of Probate
I have just received my Grant of probate, as I am an administrator of my late Father's Will, along with my brother. (original Executor has done Renunciation) I am named as a beneficiary on the original Will, with my previous married surname. I completed the PA1P form and stated that my name was different to the Will (as I…
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No will but owns half of 2nd property?
My father recently passed away and does not appear to have a will but has 3 children so we will directly inherit. The estate will be just under under the IHT limit and and the house will be sold. On the face of it seems uncomplicated so I am looking at applying for letters of administration. however, my father owned the…
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Replacing a Lasting Power of Attorny
Hi everyone. My sibling has a LPA for my Dad. My name needs to be added to this LPA. I believe we have to cancel the existing one and register a new one. Is that correct? If it is, will the new one automatically replace the existing one or does my Dad need to cancel the existing one? Any advice and guidance would be…
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What is the expected etiquette for after a funeral?
We are expecting only a few people for a funeral we are organising (15, maybe 20 at a push) and are wondering what the etiquette is for afterwards? We can either have people back to their house for some tea and sandwiches, but this feels a little intrusive to be honest. Also the house doesn't really have the…
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After probate and Everything what to keep
Closed all my parents accounts been granted probate and sold the property. Everything is complete as per the will. Documentation what needs to be kept ?
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Grant of Confirmation Scotland help
Hi my mum passed away a month ago and I am her exectutor. She left a will and I am her only child so it should be pretty straight forward. I have filled in the C1 form so far the only issues I have is how to fill in the inventory. She has 1 property with no mortgage and a bank account. Can anyone help with how to word the…
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Inheritance tax on gifts confusion
My dad wants to gift me and my sibling £150,000 each. If he did I would use this to buy a house. Problem is I'm so confused about inheritance tax. If he was to die within 7 years what would I have to pay? Am I right in thinking if he only gifts £300,000 and no more I won't get a tax bill. If he were to die everything would…
