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IHT402
Hi there I'm completing inheritance tax forms as the executor of my mums will and as her sole beneficiary. She had no IHT to pay on the death of my dad 2 years ago and ownership of the house passed to her. I am now due to inherit the house and her assets. I need to complete a full return as I received a gift from her…
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Estate Administration: Will states age 21 for a beneficiary - is this mandatory?
My partner died in late 2023 and I am executor of her estate. I have Grant of Probate and am planning to make an interim distribution of the estate. For one beneficiary of a pecuniary gift of £10K, the will states "... upon attaining the age of 21". The beneficiary in question has just turned 20 and is very level headed…
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Sibling living in family home
I will try and keep this brief. My brother and I jointly inherited our parent’s home three years ago. He lived there with our parents for many years and acted as a carer for mum in her latter years. He has continued to live there since mum passed away and probably plans to stay indefinitely. He is on benefits and signed…
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IHT Allowances and forms required for probate
The scenario I have is fairly straight forward I hope. My father passed away late last year and everything was left to my mother, including the house. Probate wasn't applied for. My mother has now recently died and the will leaves everything equally divided between the children, including the house. The house is worth…
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Care Home Fees overpaid
My dad died at the end of July and we inadvertently paid the next month's care home fees in error mid August. We phoned the home to tell them the next day and have been trying to get the amount refunded since then. I was told by the Accounts dept today that we would get the refund at the end of October! The payment is £5k+…
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Deed of Variation R Removal of Unborn Beneficiaries In A Discretionary Trust
Hi Savings & investment Forum, We are of course going to seek formal legal advice about the following two questions but would be grateful for the thoughts of the MSE Savings & Investment Forum mind? My father's Will contains within it a Discretionary Trust (of Residue) into which his assets have been transferred by design…
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Waiting times for District Valuer to make contact
Hi, I was granted probate for my father's estate in July 24. I was told earlier that HMRC had referred it to the DV in April with an approx. contact time of the beginning of August 24. We have a small farm and have gone for 100% agricultural relief on the advice of my solicitor and my valuer. There is some land that "may"…
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Executor's account - may I move money out of it immediately?
I'm dealing with my late mother's estate. I'm the sole administrator & beneficiary and have received a Letters Of Administration. I've already set-up an Executor's bank account and am now acquiring cheques/CHAPs for all her savings accounts and investments, which are all being paid into the Executor's account. My question:…
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Terms in the will
Hi, can anyone please confirm what the following means in my relative's will (I am Executor): "Upon trust absolutely in equal shares for the following seven people or for the survivors of them" Of the seven, five were still alive when the relative died. None are children of the relative. I think it means the estate is…
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Capital Gains Tax question
I'm learning a lot from this forum; two questions First question - if you leave a person a house in your will and they sell it and they already have a house of their own, do they pay CGT on the sale? Second, if the answer to the above is 'yes', would they pay CGT on non-residential property? ( I have a field with no…
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Found some travellers cheques - can I take them to a bank ? Any recent experiences?
My father died just over a year ago and we have processed the IHT, got probate and distributed will payments etc. So far so good, no complications Whilst continuing my clearing of the house today I came across just under £500 of travellers cheques - mostly in sterling but some in Canadian dollars. I rang up the American…
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Possible tax liability on late mother's investment
Hi, Sorry long post. My sister and I are joint executors for my late mother's estate. Probate has been granted and all monies now received from banks and investments with one exception, a bond held with Aviva. As with many companies these days, the organisation is so big that getting any sort of continuity with a problem…
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Solicitor recommendation please
I have a difficult family issue and it is now time to deal with it. My rather greedy, selfish, controlling psychopath of a sister took control
of my mother some years ago and against my father’s wishes. Initially getting
added to their bank account and then arranging for our joint LPA for both
parents to be revoked and…
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Marital Home IHT Exeption Still Apply If Estate Varied To Son?
Current IHT rules state that if a marital home passes to the surviving spouse/partner, it is free of inheritance tax. If some or all of the value of that house was varied in a deed of variation to a son, is the house's value still free of IHT? Or does HMRC consider that as some or all of the houses's value is no longer…
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Chargeable Event Certificate
I am trying to complete for my late aunt a HMRC self assessment form and need to include details from a chargeable event certificate that was issued in respect of an investment bond she still held when she passed. After spending over two hours on the phone to HMRC I have come here hoping that some kind person might be able…
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Legally Required To Freeze Father's Accounts After Death?
My father is terminally ill at 91 years old in hospital. He is very traditional and controlled all finances/money between him and my mother. All his money is in his sole name and my mother has no money of her own in her name. When he passes away, is it necessary to tell the banks to freeze his accounts? Freezing accounts…
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Celebration of life funerals
Hi all, I’m looking at getting a cheap funeral plan for me & the wife,we’re both in our 70’s & reasonably good health. Co op is £1750, celebration of life is £1400 p/p. I’ve read the T&c’s & seems to be kosher with protection by financial services. What concerns me is, trustpilot has 5 stars but only 48 votes? TIA Paul
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Is probate needed?
Hi if I want to do a no win no fee medical case do I need probate? (That is otherwise not needed). I am next of kin according to intestate rules and dealt with affairs after death. We do have grounds for a medical case but don’t want to go through probate if not needed?
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Inheritance & capital gains: Wills & Trusts
I am looking for some guidance and advice on how best to leave any property or valuable to your loved ones. How can a house with mortgage be passed on to children in the most tax efficient way? Are there different types of "Trusts"? Or, is a Will the only poor man's way (i.e. without limited companies etc.)? Are solicitors…
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Current HMRC / probate timescales?
IHT 400 and related docs submitted to HMRC end August (with payment).Anyone know current estimated* Timescales for HMRC to process* timescales for subsequent Probate application Thanks
