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One Property for Each of Two Beneficiaries, One Sold, One Transferred - Timing Differences Query
The Deceased's Will left their Main Residence to Beneficiary B1 and left a second home to another Beneficiary B2 who had lived in it for 10 years and will continue to live there going forward. The two beneficiaries will also split the residuary estate cash between them. A Letter of Wishes was attached to the Will which…
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How long to wait for HMRC?
My mother died in 2018. I was the executor. Her estate was large but not too complicated. I eventually got probate and all IHT was paid. She had had an accountant who prepared her tax returns and we checked that everything had been included. The estate was fully distributed, everything equally between me and my four…
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Credit card after death
Hi My father passed away recently and myself and my sister were executors and beneficiaries of his estate in the will. There was no probate and he had some shares .most of the shares he gave to us just before he died. The remaining shares were cashed in after her died and my sister and myself have the proceeds. He had one…
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ISA of deceased
Is it permissible to leave an ISA in the name of the deceased for the maximum period allowed of 3 years even if Probate is granted 1 year after death? (APS doesn’t apply) The sole beneficiary of the estate and ISA is happy to leave the ISA untouched to retain the benefit of any income / capital gain being free of tax.
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Should I accept an entreaty to be executor of a will?
I’ve been asked to be the executor of someone’s will, and I’m unsure whether to accept. I’m being asked because his only beneficiary lives abroad and there’s no family or suitable person available. I’m being approached as the most “utilitarian” option. The estate is likely to be complex: * It will exceed the IHT threshold.…
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Is a separate account necessary for sole beneficiary?
My husband died 4 weeks ago & I am only now trying to get my head around dealing with the financial side of things. He died intestate so I will apply for letters of administration and be the sole beneficiary. I have already used Tell us Once and the Death Notification Service which will start the ball rolling. When I dealt…
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Living in fathers house after his death
Hi all I am looking for advice whether i need probate My father passed in May and left a will My sister and myself were executors and beneficiaries The small amount of money he had in the bank was released by them and proceeds shared between myself and sister. Regarding his house, i have lived there also for 55 years and…
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help as an executor
my mum died and left a house to my sister and a house to myself.my sister wants the house left to her put into her name and the house left to me i am going to sell.Am i right in assuming that the legal costs to sell my house and for hers to be put in her name have to come out of the estate before the estate is finalized.i…
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Agreement to loan property (an instrument) for life?
Hi there Does anyone have any guidance/wording for an agreement to enable an item of property to be loaned and then revert to the owners? Situation is our stepfather has an item belonging to our late Mum (his partner) in his home. We are happy for him to keep it indefinitely, but upon him not being here any more, we would…
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Closing Bank Accounts for Deceased
I don't know where to post this but hope someone can help me. I am the executor of an aunts Will. She has no assets or property and only a little money in 2 bank accounts. I know I don't have to go through probate but I wonder how do I close her bank accounts. I think I have to send a death certificate and a copy of the…
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Italian Social Services
This will sound like a soap opera, but I will try to be brief. My father-in-law is an Italian citizen residing in Italy. He is 90 years old with a host of issues, mostly mental health related. Since my mother-in-law died last year, he has gone off the rails completely, so much so that the family from whom he rents an…
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IHT forms process?
situation: two executors/beneficiaries on second parent will. Paid for a legal advice session which confirmed all is straightforward, no trusts etc, eligible for 2 x RNRB. Now going DIY. Both executors/beneficiaries in agreement (happily) and other person happy for me to make it all happen. No charity bequests, straight…
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Checking if this counts as an excepted estate and just the PA1P is suffcient
I'm dealing with the probate for my late MIL who was the last survivor of the marriage When FIL died 2y ago everything passed to MIL MIL Will passes everthing to 2 decendants Current numbers are House value : 420K Cash value : 87k house contents: 2k - if that, just a guess funeral expenses : 2.6k - had a prepaid funeral,…
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Advice on preferred cremation document
My partner and I have decided we would like a direct cremation and in a particular city and have found some directors who can conduct this. My family have agreed to this and quite happy for it to go ahead. However we think my partners family would oppose this despite them not having the means for a traditional funeral. I…
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PA16 form causing uncertainty in NSW letters of administration reseal
This is a long shot, but here goes. According to the laws of intestacy, my mum would be the administrator of my dad's estate. But I have done all of the work on the estate (if you interviewed my mum or siblings about my dad's estate they wouldn't have a clue) so I thought that it might be a good idea for mum to relinquish…
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Transferring pension to beneficiary - tax changes
I am the main beneficiary in a will and the financial advisor administering the deceased's pension post has suggested I could inherit the pension and because my relative passed away under 75 years old and any drawdowns would be tax free. This on the face of it sounds a good idea as I am almost 70 and don't have a very good…
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How to amend probate values?
We've recently dealt with my late mother's estate and grant of probate has been issued. The estate value is over the IHT threshold by a small amount however as everything passes to my father (her spouse) it's an excepted estate so there was no IHT to pay. Since the grant was issued we've since discovered she was owed a…
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Canadian Will and POA for UK assets
Might be too niche a question but thought I’d ask anyway. My son and his wife have been in Canada since 2012 and no intention of returning to the UK. They’re currently organising Wills and POA there. Their solicitor has of course advised finding out the situation about accessing UK assets via their Canadian wills and POA.…
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Probate and a RESIDENTIAL park home (not a caravan)
Hi all I'm valuing my late father's estate for probate. He, like many retirees bought a park home on a residential park, not a holiday park (important distinction) and pays a ground rent to the park owners. Because of it's relatively low value, it's considered a chattel (an asset), not a conventional property. I'm guessing…
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Unused inheritance tax question
I am about to start completing the online probate application and need to verify my understanding of unused IHT allowance. My father passed four years ago and left his entire estate to my mother, who has recently passed away. My mother's home was sold to cover care costs etc and her current assets are all in banks ,…
