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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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Form IHT406: not enough rows
As I mentioned on another thread, my Dad died last week and I'm 100% sure there is IHT to pay. I've read the HMRC IHT guidelines but this is all new to me. So please continue to bear with me, and thanks in advance to the experts out there. Form IHT406 (bank accounts, NS&I, etc) has insufficient rows to report all of my…
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Leaving money to legatees who drink
Hi all, both my brother and cousin are in this position, and I wonder if anyone can help. Is there a way to leave money in trust to an over 40, who is an alcoholic, or for another reason not able to manage their own finances? Neither of these two recipients don't have capacity, but neither can manage money at all. Thanks…
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Gifts for IHT: interaction between tax years and date of death
I’ve read HMRC’s guidance notes on gifts, including the seven
year rule and the annual (per tax year) exempt amounts of £250 per recipient
and £3000 respectively. I’d like to ask
two specific queries about the interaction between date of death and tax years.
Thanks in advance for shared wisdom on these technical points,…
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Overpayment Recovery Of State Pension & PIP
Hello, Not sure this under the correct category but the nearest I could find. In Brief, My wife died last October (5th) . I filled in the 'inform everyone' form . I do recall getting a letter saying nothing was owed at that time . (need to find it) Today and yesterday I have received two letters, one regarding state…
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Am I entitled to a share of a will?
M-I-L died 10 yrs ago, Her will passed all assets/property to F-I-L. F-I-L now died & his will to be split 50-50 to both sons. My late partner (son) died 2 years ago, I was main beneficiary of his will alongside our 2 children. We were not married. Will not amended following sons death as f-I-L had dementia. Am I entitled…
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Information on burial site / grave location
Long story short, I am trying to locate a burial / grave location in the UK.I intend to pay my respects on my return to the UK but although the family of the deceased held an open to everyone funeral service , the internment was private with strictly only immediate family permitted to attend. I have written to the Town…
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Natwest Bereavement online service timescale
Anyone recently used Natwest's online bereavement service to close and transfer a deceased's bank accounts, if so I was wondering how long does it usually take to transfer the account once you've given them all the information required and signed the Release of Funds agreement? I signed mine over a month ago but not heard…
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Changing executorship from solicitors to family
This discussion was created from comments split from: Changing Executors and IHT with charity bequests.
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Is this Legally Sound
Child appoints themselves their parents carer. Parents have valid wills with each other as beneficiaries then their 3 children equally as beneficiaries on the 2nd death Said child has parents add an "expression of wishes" to their wills which is worded such that this child and partner will be paid from the Estate on first…
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Gifting a rental property to your children or grandchildren and CGT
Hello The scenario/possibilities are above. The property is in England. If someone were to gift a BTL to their child/grandchild, I'm aware there may be a CGT liability depending on any price gains and allowances/etc. Once this BTL property was gifted as mentioned above, two questions. 1: If the child/grandchild were to…
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Interest Due on Client Funds Held by Solicitor
The Administration of a family members estate is drawing to a close and final accounts have been drawn up by the Solicitor. It is apparent from these that sums held on account pending distribution to beneficiares have attracted an interest rate of 1.3%. This seems a very low when rates in excess of 4% are readily available…
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Giving up Life Interest to Pay Other Beneficaries
Hi all I was a life interest beneficary in a property which I shared ownership with my wife as tenants in common. She died in 2022. This has now been sold, and I have bought a new home using my own funds and I did not require the trustees to help me with buying my new property. A solicitor has provided the following advice…
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Probate final stages - How to transfer house to ltd company efficiently and other questions
I’m the Executor of my late mother’s estate and think I'm near the final stages of finishing things up. There is no IHT to pay on the estate. The headline figures are that the family home was valued at £240k at death and there are shares and savings at approx £150K in shares/savings and the estate is eligible for the…
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Help please
Hi. My mum died some 9 years ago. Probate didnt take too long but still it has not been finalised. To make matters even worse, it is my late fathers firm of solicitors who are dealing with it. There are 3 executors and 2 of my 3 siblings inheritance is in trust, complicating things. I have already complained to the `Legal…
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Inheriting the money in an ISA that moved?
I was recently gifted some money in a relation's Will. At the time they made their Will, the person had a cash ISA, and left me whatever amount was in it after they died. Now, in the several years between making the Will, and their death, that person moved the money from the ISA into another cash ISA with a better interest…
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Which of our names to use for Probate?
My lovely mother passed away on Friday and has left her estate in her will to my sister and myself. My sister and I have split the jobs to do, and I will be doing the Probate myself. However, in her will, my mum put my surname as my husband's, despite the fact I kept my maiden name when I married, and she put my sister's…
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Executors not distributing estate 9 mths after probate, while one of them is driving my mothers car
Mother died 1.5 years ago, probate achieved 9 months ago, My sister gets has a pecuniary legacy to include any inheritance tax due, and then my sister and i are 50% 50% beneficiaries of the residuary estate. My sister and another professional wills probate company ( not a registered solicitor) are executors. In the 1.5…
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Will Trust - Life tenant
I am a life tenant of a will trust set up by my mother. This is for cash only, no property. The trustees have invested it but have split it 60% income (for me) and 40% growth (for the remaindermen). I think this is unfair as I am 18 just going to Uni, and I think an 80:20 split would be fairer as I need the money now - and…
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Partition of trust and tax implications
My father passed in 2019, leaving his 50% share in his estate to me; currently held in trust as his wife has a life interest where she may may live in the property until she passes away or no longer wants to live there. She has asked through a solicitor (we do not have a relationship) if I would be interested in a…
