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Releasing funds from inherited SJP investment bond process
Sadly my mother passed away early last year and now that the probate process is complete i have asked the solicitor to call in the money from the SJP investment bond. The investment bond is only nearly 2 years old and so i will unfortunately have to pay an exit charge. I was expecting the process to be that the fund would…
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Any Success stories? Everything finally sorted after family "go rogue"
Prompted by the many threads we see regarding the mishandling of estates, where individuals "go rogue" and don't handle the estate assets as they should ( in some cases out and out theft), I can't recall any threads whereby the aggrieved parties finally got everything sorted out as it should've been and recovered any legal…
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Burial plot for parents but daughter owner
When my father died, i accompanied my mother to funeral directors where a burial plot was purchased. It was space for 2-4 interments. My father buried first, then my mum would go on top when her time came. Thing is my mum put burial deeds in my name so that plot could be opened with my permission when her time came. What i…
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Trust registration service - clarification
Reading through the process to register an IPDI trust and a couple of questions remain in my mind;Scenario; Husband dies leaving 50% of property in trust for children. Wife's holds 50% and has right to live in the property. They were tenants in common. Q1. The widow now holds the property on trust for herself and on behalf…
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Estate includes an (insolvent) Ltd company - help?
I’m executor for a family member who has recently passed away. The Estate includes an insolvent private Limited company. My family member was the sole director and shareholder. No employees and no business assets other than a desk, chair & laptop. Last accounts posted on Companies House show business as having significant…
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Retrospective Probate Questions
My brother, sister and I are currently in the process of selling our late mothers house who died in 2020. Probate was dealt with in 2022 and my brother is the Administrator/Executor. The solicitor handling the sale has received all doc's etc but after seeing that the property deeds only name my father (who died in 2013)…
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Probate & Joint Bank Accounts
My Father died recently, my siblings and I are executors of the Will. We are in the process of applying for probate. We have had conflicting advice about bank accounts that are in joint names of both my parents. I know that the Joint Accounts transfer into my mothers name and the balance then becomes hers, however does my…
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Is this advice correct?
A will trust was created upon the death of my friend and his widow has sought advice from the "Estate Planning Solutions" company that originally sold the package of the will etc. This is not a firm of solicitors. My friends half of the property was left in trust for their children and she has the benefit of living in the…
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Concerns With Probate
Long
story short.... After my father died, my sister instructed his solicitors to deal with probate. I'm sole executor (first and hopefully last time) and my sister and I are the only beneficiaries. As my sister instructed the solicitors, I
assumed we were joint executors until after probate was granted and I
downloaded a…
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Gifts out of income possibly incorrectly made
Hi, On gifting balance sheets - it seems clear that deceased was of the view that gifts out of surplus income could be backdated by 7 years. So, for example, only very small gifts out of income were made in 2017, 2018, 2019, 2020, 2021 but then a large gift was made in 2022 using the unused surplus from each of these…
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How long does it take for HMRC to reply about Capital Gains Tax
Morning, has anyone got an idea of how long it is taking HMRC to reply at the moment? I reported online the capital gains tax following completion on the house that we have sold. After it just said we will contact you to let you know how to pay. Just trying to get an idea of time scales before i think about chasing a…
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Interaction of IHT gift exemptions
Suppose you claim "regular gifts out of income" (for example £2000) and also give one-off gifts (over £250) totalling £1,200. Can you still roll over £1,800 unused Annual Exemption towards one-off gifts the following year? In other words, is the roll-over feature affected by having claimed regular gifts or are they totally…
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Stamp duty on inherited property?
Hi, Last year I inherited 50% of my late father's house. My wife and I are intending to buy the other 50% share off of my sister. However I have a buy-to-let flat that is currently rented out. Does this mean I will have to pay the higher rate stamp duty on the 50% share I'm buying? I was wondering because the buy to let is…
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What actually happens during probate?
Hi everyone, My Mother passed away last month. She left a will that had my father as sole executor. Her property was owned outright and will automatically transfer to my father as both were on the deeds but she had £100k from her pension in her savings account that she cashed in during the last 12 months as she had a…
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Administering estate after executor renounced
My late mother's executor has renounced the role, so my sibling and I are now administering the estate. It looks as though probate won't be needed, and at this point we're not involving a solicitor. What do we do with the renunciation form? I believe that it's supposed to be registered somehow, but my googling has been…
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Care Home Freedom of Information
My Dad has Alzheimers and has recently been evicted from his dementia care home because of dementia symptoms. I have a range of concerns about this and have been advised to make a formal complaint and ask for his care notes under the freedom of information act. The Care home have responded by sending me a form to complete…
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IHT on gift
Hello, A rather elderly relative decided a few years ago to make a number of large gifts (far exceeding the 325,000 exemption). If they were to die soon after making the gifts, who would be responsible for paying the IHT. Would it be the individual recipients - or would the tax be paid out of the estate? Many thanks for…
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Inheritance Tax and Residence Nil Rate Band. Do we need to complete IHT400?
We have an estate which is worth £450,000 and would like to claim the Residence Nil Rate Band. This means the threshold is raised to £500k and there will be no IHT to pay. Therefore is this regarded as an excepted estate and can we just enter the values on our online probate application? Or do we still have to make a full…
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Land Registry search help please
Why would it say No information held for: *Property Address* This information can change if we receive an application. This service cannot tell you if HM Land Registry are dealing with an application. Does it mean the property is not registered? The property in question has never been sold since it was built. Owners bought…
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Increase in value of estate after probate granted
Hi, I am hoping someone can help. My mother passed away last year and probate was applied for. We had the property valued in March last year and used this figure for probate which was applied for in November. We have just put the property on the market and the value that the estate agent has given us has increased by about…
