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Capital Gains Tax
I’m wondering if anyone can advise/ has experience of this situation please? My sibling lives at my parent’s house, I live in social housing, when parent passes, as it stands the home is left 50/50 with a caveat of 2 years for sibling to decide wether they want to sell or buy me out, which in turn gets me on the housing…
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Will writing services (new CMA Guidance)
Saw this and thought of you (regular posters). This link is to the public facing guidance. https://www.gov.uk/government/publications/what-to-consider-when-buying-will-writing-services On the same day the Competitions and Markets Authority issued an open letter to unregulated legal services providers including Will…
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Executor bank account
I am thinking of opening a joint executor bank account with my brother as we are both executors to our mother's estate. Has anyone had experience of Natwest?
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Inheritance Tax Claim to transfer Unused Nil Rate Band
Hi, I have just found out that I might be able to Transfer my wife's unused Inheritance Tax allowance but looking at Form there was a Deadline of 2 years to fill in the form but my wife passed 6 years ago. Is there any way to get around the deadlines would anyone know? or another way for me to claim the unused Allowance?…
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Post-death income on fixed term accounts
I am the executor of my mother's will. IHT has been paid and accepted by HMRC. The estate had eight fixed-term accounts in my mothers name. All have been transferred to the six beneficiaries. The accrued interest on these accounts is paid out only on closure or maturity, not on death or transfer. Therefore the accrued…
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IHT Property Sale expenses deductions
Hi My deceased mothers house is about to be sold. Valuation on IHT form (Accepted by HMRC) £830,000 Sale price £831,250 But there will be agents Fees , solicitors etc decucted so net proceeds Approx £815,000 Can I use IHT 38 to reclaim some IHT based on Nett proceeds? On first reading it seems not but perhaps a claim for…
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Person with PR in prison. Trying to apply for probate.
Very awkward position. My daughter had 2 children with a very controlling man. They ended their relationship 6 years ago. They were never married. After their breakup, he was sentenced to a very hefty prison sentence but still has parental responsibility for the children. My daughter lost her life due to his psychological…
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POA on single account and joint account help please
Hi I have a POA on my grandfathers current account and we also have a seperate joint account. I am thinking to move his current account balance to our joint account and then use his current account for day to day bills. This, of course would also help ‘when the time comes’ and would save any probate or solicitors fees in…
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Gift - or wait ‘till I’ve gone…?
Hi, am considering my will as have currently have assets worth thinking about. Lucky me. Several close friends have children - I say children, but they are of course growing up. I’d like to include them in my will to the tune a a couple of thousand pounds each, but if we all wait till I die, that will be x years away. It…
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Awful solicitor
Hi there, am a beneficiary of my mothers will (who died 2020, probate granted Dec 2021) and feel that the solicitor has facilitated the administrators complete and utter failure in fiduciary duty to my brother and I in that it has taken 3 years to sort this out and we are finally getting inheritance in the next week. I…
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Asset/Estate Planning Advise
Hi My parents have asked me to look into possible ways to protect the family home and some savings they have from being used by the government for care costs if needed in the future. At the moment all we know is they own their house outright as Tenants in common and would be looking at ways to protect all or as much as…
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Funeral Plans are a Con = Ecclesiastical and others
My aunt took out a funeral plan in 2009 with Anderson McGuire Funeral Directors Glasgow, the Funeral plan they had was from a company called Ecclesiastical Cost £2300, at the time it would have seemed the right thing to do in the glossy Brochure, thinking no matter what, all is covered even inflation years later, fixed fee…
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Question 7. IHT436. Claiming RNRB
Hello Want to claim what we know is 100% of my mothers unused RNRB. Mother died in 2003, her entire estate passed to my father who recently passed away in 2021. She did not leave any instructions in a will to give anyone but my father any of her estate. We have IHT form IHT436 which states: Complete questions 7 to 15 if no…
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Joint Executor with the legal firm who drew up the will - do they have to be involved/paid?
I've just found my sisters will - which she had asked me to be executor for. It also lists the legal firm who drew up the will as an executor - and they have the original copy. I will have to call them to get the original - but before I do - do they have to be involved (i.e. be paid)? It's a very simple - split 3 ways will…
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Understanding the wording on a Will - not related to an earlier thread on the same subject
Could experienced posters please advise me who is the beneficiary of this Will? What does Person A and Person B get out of this and is it the children (not named) who are the beneficiaries? I am sorry it is long-winded, but thought it better to include all of the clauses rather than pick a few out. Very grateful for advice…
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Advice please on inheritance tax
After my father passed away, my brother and I each inherited a one-third share of the house where our mum and stepdad currently live, while my stepdad received the remaining share. Neither my brother nor I have lived in the property for over 20 years. Now, my mum and stepdad have decided to sell the house, which is valued…
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Discretionary Will Trusts & Residence Nil Rate Band
Martin says in his latest newsletter that if you hold a Discretionary Will Trust your children would not qualify for the Residence Nil Rate Band, however advice from Co-Op Wills says that your children can benefit from this extra tax relief when you die, if they sell the property within 2 years of your death. Can anyone…
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Advice on death possibly through negligence
Please bear with me, and I hope this comes across right. On 27th Dec 2023, a close friend (55 years old) passed at home. Initially it was assumed to be a heart attack, but it later transpired to of been possibly caused by a piece of plastic that pierced or tore a vein/artery. Here’s a timeline of events: Pacemaker fitted…
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Mums Estate
Hi, Sadly our mum passed away last year after a long illness. She didn't leave a will however our Dad had passed away 9 years previously also without a will, at which time we sought the help of a solicitor to sort how his financials - once he had done this the solicitor said that everything would naturally pass to our Mum…
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Old MEB shares? Still valid?
My dad recently died and I found a certificate for 300 shares in the old midlands electricity board. He used to work there so it could have been that or he may have bought them at some point. If they are somehow still valid they are probably worth nothing but where do I even start. I tried to find out yesterday who took…
