-
Probate being requested by IFA
My father and stepmother had mirror wills. Stepmother died Jan 2020, and my understanding was that probate was not required at that point because everything passed to her husband (my father). Solicitor was involved, probate was not requested by her executors (her 2 children). Now (Oct 2023) the solicitors have written to…
-
Late Aunt's will mentions non existent family member - what happens next?
When my aunt re-did her will in 2018 she named a family member that does not exist. Due to my decision as executor I will allow my cousin to own her property outright. Problem is this requires everyone listed in the will to sign deeds and provide ID. My aunt listed a name which funnily enough was a mixture of her son's…
-
Property ownership and life interest trust
A slightly odd situation so please excuse the long post, or if it is confusing! A deceased relative's will (let's call him John) states that their property should be held in a life interest trust with their partner (not married) being the life tenant ('Janet'). However, Janet is the only recorded owner on the land registry…
-
Advance Residual Beneficiary Payment
Currently I'm at the stage where probate has been granted and awaiting sale of house. Pecuniary beneficiaries have been paid out. I am the executor and 1 of 2 residual beneficiaries. Apart from the house sale I feel sure I have gathered all the assets (mostly savings) & dealt with arising debts. I don't anticipate any…
-
Interim distribution timescale
Hi folks As neither the solicitor or the executor is being responsive - does anyone know likely timescales: Context Probate granted late 2021 Property recently completed (a month ago) Everything else from what I know was ready Solicitor had said a few months ago that "When the sale of the property has been completed any…
-
Writing wills - what does more money get you?
Partner and I are thinking of getting wills drafted now we're responsible adults. We have a kid, a house, two cats and a fair bit in savings (cash, shares etc.) and are both in good health. Might want to put a legacy or two in for charities, but otherwise the residue goes to each other or our kid. Chatting to a couple of…
-
Is this allowed legally?
Following on from an earlier post https://forums.moneysavingexpert.com/discussion/comment/80320118#Comment_80320118 I'm looking for some advice, my sister is executor of my mothers will and will says if she didn't want to do it then next executor named is my sisters daughter but either she refused too then my sister made…
-
Executor is asking for indemnity form to be signed before making interim payment.
I am a beneficiary of someone's estate and the executor, a solicitor, has written to me saying that he has now received all the funds into the the executor's account except the funds in one bank account which the bank has not yet transferred to him (despite them being notified of the death many months ago). The letter does…
-
Certified copy of will
One of the banks used by my late husband will only release funds on sight of a certified copy of his will, or Probate. We are still at the stage of gathering information, so a long way off Probate yet. I approached a local solicitor to do the copy of the will but they say they don't offer this service unless I am a client…
-
Joint executors
I was thinking of nominating both siblings as joint executors so as to avoid favouritism. But if dual signatures are required, that just adds to the workload. Is it possible to specify that dual signatures are not required? This would also allow more flexibility to divide the workload. Thanks in advance for your thoughts…
-
Coop Discretionary Trust and Probate service
Hi all, I'm wondering if anyone may have some advice for me. My father sadly passed away recently but, had updated his will this year. He's set up a discretionary trust for myself (and another beneficiary in case anything happened to me first) as I'm on ESA and PIP due to my own health issues. It seemed like a great idea…
-
Care Home fees - house sale
Hi all, I have POA for a relative who has gone into residential care following the death of her husband in April. She has savings of around £40k which will last a few months to cover the cost of the home. She has a house which I have put on the market (at her request) to ensure she will have sufficient funds to continue…
-
Inheritance Tax - discrimination for Kinship care
There are many
children historically brought up in ‘informal kinship care’
relationships’ (I personally know 2 others) who have a parent/child bond with an
alternate family member who raised them with little or no contact with their
biological parents. As far as Inheritance Tax is concerned, they are discriminated
against…
-
How long did your probate take in 2022 / 2023?
As we reach the 20th week of waiting for probate I was wondering how long other people have been waiting. Any information you can offer would be great!
-
Will Discretionary Trust Help
Evening, Hoping someone can help Dad past-away 18m ago and on death his will required a discretionary trust to value of Nil Rate Band, of which the Spouse was to be considered the primary beneficiary there are 5 additional beneficiaries which on spouses death or earlier by her agreement the remaining capital was to be…
-
IHT / C4 Corrective Form
Hi, We’re 12 weeks in to our Probate Application. We’ve paid an initial chunk of IHT, however, our solicitor has informed us a debt of £10k has come up against the deceased so they’re going to fill out a C4 form for us to sign, and send to HMRC for them to release the IHT421 to the Probate registry for them to release the…
-
Early transfer of property to children. Advice needed.
Hello.My parents are old and live in a relatively expensive house they own outright. I would like to transfer 50% of the property to me early on, the other remaining 50 with my parents. This is to reduce any inheritance tax liabilities that may arise after 7 years from now (sorry!). My thoughts are, on my parent's passing,…
-
7 years gift rule
Good morning. I understand that if you live at least 7 years after giving a gift then it won't count for tax purposes. Does anybody know why 7 years and what the thinking was behind this? Thanks
-
Grant of Probate delays?
Hello, I have currently been waiting 27 weeks for the grant of probate to be granted. Does this seem right? Or does anyone have any similar experiences with it taking this long? It seems way longer than it should take from reading about other people's experiences on the internet. I have asked my solicitor to file a…
-
Will jargon
This is a paragraph of a family member's will: I give the residue of my Estate for such of my son "John Smith" and my daughter "Jane Smith" as shall survive me and if more than one in equal shares and if anyof those beneficiaries shall fail to obtain a vested interest leaving issue who surviveme and reach the age of 18…