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Forenames on will transposed
I’d appreciate some advice on probate application. My step father who died recently was always known by family and friends by his preferred middle name, John. As one of his executors I have now seen a copy of his will and this reflects his name preference i.e. middle name, first name, surname. The other executor and I are…
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How to fill in IHT410 relating to discretionary trust
Hello, I am currently filling out IHT forms for my dad's estate, and am unsure on how to answer IHT410 Q3. "Was the deceased’s life assured under a jointly owned assurance policy which continues after death?" His life was jointly insured with his surviving spouse in a whole of life policy (second death), and so continues…
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Children's legacy advice in Scottish Law
My father in law left my two children a substatial amount in his will five years ago. The will stated it should be invested into a trust earning interest/ income. The children would receive this when they were 21 but it could be released before that age if it was for their education or benefit. The executor, my husband's…
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Inheritance tax question
i have had a query from a friend and she's rung HMRC three times but not got an answer. i have 500k to pay in 10 instalments over 10 years.There is interest to pay on the instalments I have paid the first instalment 50K, but not the interest due with the first instalment, which is around 40K.If I pay more, before the next…
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Letter Before Action
Hello, I am currently in a Will dispute (defending the Will) and I have received a letter before action from the claimant (family member). In this letter the claimant has written a short summary of the dispute and has threatened to commence court proceedings without further notice if I don't agree to his demands but he…
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Income and Dividend taxes
Hi all, Looking for a little bit of guidance/confirmation on estate taxes (not IHT) liable on gains/losses between the date of death and the date of final distribution(s). Due to the sums involved it's likely there will be tax owing to HMRC at some point. My understanding is that we will have to pay tax at 20% on any…
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Is probate required - tenants in common first death
My FIL passed away over Christmas. He doesn’t have much in the way of financial assets to the point where I believe probate is highly unlikely to be required to release the small sums he has at various banks to my MIL. Equally he has a TPS pension and I believe they will do what they need to do upon receipt of the death…
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What if we get Probate amounts slightly wrong?
Hi everyone - my f-i-l passed away quite suddenly and my wife is his sole executor preparing Probate. His will is relatively simple - everything passes to my wife's Mum, so there is no IHT in play etc. However my f-i-l was a very financially savvy man who had all manner of savings instruments. He did all the household…
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Undervalued house for probate
“We, as joint executors, have undervalued our late mother’s estate by £60k because the house sold for that much more than expected. The estate is being distributed only between the executors. There is no inheritance tax due because my father predeceased our mother and she has his allowance. Do we have to pay capital gains…
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Grant of confirmation - additional documents
Hi guys, I've been using some of these threads, predominantly those supported by @buddy9 to complete the c1 inventory form to help me obtain a grant of confirmation so that I can sell my late mother's house Both me and my brother are will executors with equal share of estate. The house is worth £75k... And moveable assets…
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Spouse liabilities in sole director dies
If a sole director passes away for whatever reason, does his spouse (also next of kin) become liable for the companies debts, returning rented units back to their original state etc. Any advice greatly appreciated or what field a solicitor needs to specialise in to advise on this situation. Many Thanks
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Inheritance tax forms
I am executor of an estate of a friend who recently passed away. Her husband passed away in Nov 2021 and left everything to her, his spouse. (property and money). Her estate is worth about £600K. The online IHT checker is saying there is no IHT to pay. However, do I still need to complete at IHT 402 to transfer her…
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Property survivorship (or not) in Scotland
I'm getting information together to rewrite my will, spouse is also rewriting his will. Last time we looked into rewriting our wills (but didn't go ahead) we were in our old house, which definitely had a survivorship destination. I just looked at the documents for our current house and it looks like it doesn't. 1. Can I…
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Is it fair to leave my house and money only to my granddaughter as my son has fallen out with me.
My son has fallen out with me years ago but his daughter carried on visiting and helps quite a lot. I need to sort my will out and have been delaying it as my dilemma is should I leave my house and money to my granddaughter only or should I give something to my son who doesn’t want to know me.
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Scotland: distribution of estate
I fully appreciate this is, in many ways, a 'how long is a piece of string' question. Although I've acted as Executor and completed probate in other jurisdictions, I'm not familiar with the Scottish system, so my expectations may be all wrong. Confirmation was completed in November 2024, property sale was finalised in…
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IHT405 question - property value
hello all - I've searched the forum but can't find the answer, and can't get through to the helpline. It's box 12 of course. inherited property to be sold once we have probate. Have RICS valuation. No idea what carpets/curtains etc will be worth, obviously to be included. asking price will presumably be a bit more than…
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Bank Account for Discretionary Trust
Hi, Our father passed away 7 years ago and the will arranged for his half of the family home to be protected by a Discretionary Trust. Our mother, after an extended hospital stay is now in a nursing home. We need to sell the house to fund the home fees. On sale, half of the home will go into a Discretionary Trust. We'd…
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Direct Payment Scheme for IHT
I am doing some planning and discussing with the potential executor to use Direct Payment Scheme to pay IHT when I pass. Is it too risky to rely wholly on DPS and usually how long for banks to make the payment to HMRC?
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Trust Will or simple Will?
3 years ago, when my husband died, I revised my Will, and was told at the time i NEEDED a Trust Will. It cost over £300! This was put in place, but since then, I have had doubts as to the need for this document in my case, but cannot find a simple plain English explanation about just why it is necessary. I am leaving the…
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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…
