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Probate IHT Submissions querry
I submitted my late mothers probate paper work which is now being reviewed, they have now asked for further information regarding IHT "You have not declared any exemptions or a nil rate band transfer. If there are exemptions due, i.e., spouse exemptions or charity exemptions declared in the Will, please advise accordingly.…
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value of part share of inherited property?
The property is mainly owned by a housing trust and partly by my mother-in-law who died in 2013. Her granddaughter had lived with her as her carer and has remained living there. Following my husband's death in 2023 a valuation was obtained from which the value of the family share was calculated. It has now been agreed by…
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Mirror Wills or Mutual Wills
My husband and I made what I believe were mirror wills. He left everythng to me to sell dispose of and enjoy during my lifetime but after my death stated that half of what was left should be given to charity and the other half to my kids? I did the same in mine. It was because he had trouble with his own kids and didn't…
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Increase in house value after probate granted.
We completed probate on my late father's taxable estate in Oct 2021. During probate we had the house (in Wales) valued. The house hadn't been updated in a long time and needed extensive modernisation. I had two surveyors look at it. One of them provided a RICS report and both gave me a valuation of £250k. After probate we…
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Conveyancing Solicitors: Distributing Property Proceeds
I'm the Executor and a also residual beneficiary for an estate where the property was held as Tenants in Common. Both parties have now died, I'm applying for probate, and the the sale of the house has just been agreed. Five siblings have been left one quarter of the property only, split equally between them. One of those…
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Form IHT 403
If my parents paid a full market rent for the use of a holiday apartment gifted over 7 years ago …. How do I declare this on form IHT 403 ?
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Transfer of IHT Allowance from a Death in 2010
Having just successfully applied for probate for my mother's estate - thank you to the guidance I have received on this forum - I realise I need to sort out my own financial records for when my children have to do the same for me. My husband died in 2010 leaving everything to me, 'everything' at that time being his share…
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Would there be any IHT to pay - intestate
Married couple with 3 children (24,21,17). House is in joint names (value around 550). Partner 1 has around 70k in sole name, 50k just been put in joint account, partner 2 has around 650k in sole name. If partner 2 dies intestate, would there be any inheritance tax to pay?
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DWP recovery from estates
Hello lovely people. My Mom passed away a year ago. After probate was granted in April I received a letter from recovery from estates saying they believed too much benefit had been paid and requesting some information. I had another letter just before Christmas asking about who lived in the house. Mom received benefit -…
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IHT402 Question
I am executor for an elderly relative who died recently. Currently filling out IHT402 to transfer his wife’s NRB to use (She died in 2014). I have found her will, written in 2000. She left all her estate to him, but she also gave £30k in cash split between the grandchildren and a couple of antiques for friends too (no idea…
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Changes to will after spouse's death
Hi. My mother-in-law died at Easter. She had cancer but till shortly before she died there was always an assumption that my father-in-law would died first as he'd been in poor health for many years. Everything was set up so she could stay in the marital home. Father-in-law decided immediately that he wanted to move to a…
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RNRB Question
My understanding is that RNRB can be transferred to a spouse up to a maximum of £175k or less if the property is valued under £350k in which case the transfer is half of the probate valuation. My question is whether thee valuation used is at first or second deaths? So if on first death the property value is £300K, the RNRB…
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Credit Card Debt after Death
A family member died in February with no assets, they did have two large credit card debts that had already been passed over to a debt collection firm and they had been making small repayments monthly. I have informed both companies that they have died and that the estate is insolvent and there are not even any assets to…
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Estranged
It's far to long to go into the detail here, unless it's relevant. Still long, sorry! I have one sibling, a brother. A few years ago my Mother passed away, and inherited all assets. Property circa £400K value, and around £150K cash. My Mother had always dealt with all of their financial affairs, Father wouldn't/couldn't…
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NS&I accounts following death
Hi, This probably inst the correct place to ask this, but I know there are many knowledgable people on here. If someone passes away and has an income paying product and Premium Bonds with NS&I, and this income/winnings are paid into a bank account which has been locked due to death - what happens to those winnings and…
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Probate/solicitors query
I am the sole executor on a relatives will who has recently passed away. There is no POA. In my capacity as executor I have dealt with all admin/account closures etc. I have never had to do this before but I have dealt with absolutely everything I can think of. There is no property to sell (it was social housing which has…
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Probate/Confirmation in Scotland - DIY for straightforward estate
Hi all, Appreciate any guidance. My dad died last month and this is all new to us. My dad left a will and the estate consists of 50% of my mum and dad's home plus his ISA. My mum will remain at home. I believe there is only one form to complete now - C1 form to Sheriff Court with £270 fee. Once we have confirmation there…
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Do we need to pay Inheritance Tax
My mum passed away last week, and we are working to get everything in order. My three sisters and I have been named executors of her estate. I was my parents' carer (my dad passed away a few years ago) and have always lived in the family home with them. According to the will, I have the right to stay in the house without…
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Will Trust Beneficiary 18 soon doesn't have bank account (yet)
Sole beneficiary is 18 years old in a few weeks. She does not have a bank account. She is due a very large (six figure) sum of money from her deceased Father. I am the Executor / Trustee and not related to either the deceased or beneficiary. Long story short, the beneficiary lives with her Mother who was left zero in the…
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Found by an heir hunter
I have been contacted by an "heir hunter" company who tell me I may be a beneficiary in the estate of someone who may be a distant relative. They want me to sign an agreement which would give them a percentage commission of any inheritance I might receive. I have no idea of the value of the estate but if the deceased is…
