-
IHT400 & IHT418
Hello, I'm hoping someone can help. My mother died 7 months ago and her Will placed her half of her property in an IPDI trust. My father continued to live in the property until his death 5 weeks ago. The property now will be passed to me as their only inheritor. The property is worth well over £1M so IHT is an issue. Full…
-
Executor Has Disappeared
Wondering whether anyone on here can advise what happens when someone dies leaving their entire estate to a single person who is not only the sole beneficiary but the sole executor? Asking because said person has disappeared. No-one knows how to contact them, last known address appears to be false, no replies to last known…
-
Paperwork of deceased to keep, throw, shred
Hi, After clearing out the house of my parent who died earlier this year, I am going through the multiple bin bags of (paid) billls (some dated 1993!), bank account statements, council tax demands, MOT and tax for cars since scrapped, state pension statements etc.... I luckily found the fensa certificate for replacement…
-
Inheritance Tax Allowance
Hi, We (two siblings) have recently lost both our parents and are trying to deal with their estate. Our mum died in June 2024 and our dad died in May 2025. Due to our Dad's ill health after losing Mum, we had not dealt with Mum's estate prior to Dad's death. Neither parent had a will. We have the following questions: * Do…
-
Executor/joint beneficiary wanting to buy property
Hello my sister who is executor of my late mom estate is wanting to buy property we both inherited. I do not wish to sell to her privately and wld like property to go on open market ( it's complicated relationship!,). Can someone plse advise how/ if I can do this, she has been ordered to sell both properties on court order…
-
Power reserved on probate
Hello I currently have power reserved to me as executor, can anyone advise on how i can apply to become joint executor
-
Distribution of assets - Executor account required?
I am dealing with my late father's estate. All assets go to surving spouse, and no IHT is due. However there may be a couple of bills to pay around 1-2k each: (1) Income tax for the period before death (2) repayment of local government pensionSo is it necessary to keep say 5k in reserve in an Executor account? Or can…
-
Monthly gift for grandchildren's education- IHT
I give a monthly gift to my son's family towards the children's education, out of my income.As my Estate would be liable to IHT would this be counted as a gift each month from excess income or is it better to make an annual gift out of income?I already use the allowed IHT allowances each year.
-
Tidying up, ready for my executors
I have just about completed executing my late husband's estate. This is included registering an IPDI Trust on our property which was held as tenants-in-common. which was done via a solicitor. The paperwork is all in place. The property will need to be sold when I die so that my children and my stepchildren can receive the…
-
AS1 or TS1 when property already registered to the executor?
Thanks for comments, question removed.
-
Proceeds of will payout
Hopefully someone here can help out. My mother died at Christmas; I had power of attorney granted prior to her death, am the sole executor of the will and have grant of probate to sell her house (dad died 10 years ago). Mum's will names 3 beneficiaries, me and my brother and sister; all proceeds are to be split equally,…
-
Access to saving account and stocks & shares ISA
Can an executor have access to a deceased person's cash in a bank account or stocks & shares ISA before paying inheritance tax? Thanks.
-
"Thank you" to contributors
A big "shout out" to all those who have taken the time to answer the multitude of questions posted here.I've been reading the various comments and explanations - they have helped me understand and DIY Probate (admittedly not a complicated will/estate), and also plan what my wife and I ought to ask for when getting our own…
-
IHT - gifts out of surplus income - husband & wife pooling all income & expenses - evidence required
Having dug around for an answer to this, I’m afraid I’m stumped. It keeps cropping up in various places, but no one seems to have the definitive answer. This situation involves a husband and wife who share all income and expenses absolutely equally. All income goes into joint accounts, and all expenses go out of joint…
-
Registering a Will Trust as Trustee
Good morning everyone, I’m hoping that someone here is able to offer some advice. I am a Trustee of an IPID Trust and have been trying to prepare the paperwork in order to lodge a standard Restriction A on Title to protect the interests of the beneficiaries. I have completed the following documents: AP1 and RX1 for the…
-
Electricity wayleave on inherited property
Hi Has anyone re negotiated a very old electricity wayleave? I tried this on the house buying frum without any luck so thought maybe someone else on here might have had to do this on inheriting a house. It was my mother's house and she passed last October and it is now my brothers. As I have LPA I need to do my best for…
-
Making a large gift and IHT implications?
I plan to leave my niece, £200K as a large gift while I'm still living.I'm aware of the 7-year taper relief rule affecting this should I die before 2032. Would this gift adversely affect me if I continued to make the £3K yearly tax-free gift allowance?... and would it leave me open to being taxed?
-
value of tax-free allowance the person who died inherited? question
Hi Everyone, I'm just in the process of doing the estimate for probate and struggling with the tax free allowance question. So my father in law is married to my mother in law, he has passed away recently, leaving my mother in law widowed. What figure would I put in the 'What was the value of tax-free allowance the person…
-
Inheritance Tax on car
My Dad (88) has been told he is no longer allowed to drive. He has gifted his car (£10k ish value) to my son. My question is should we pay for the car to avoid inheritance tax and if so, is it important to pay market value?
-
Hope to Check IHT
Hi, hope that someone could help on my query. We are trying to be MSE after solicitor quoted £6k for probate, so DIY route. My Mother has died and we have confirmed savings of £183,222. (without any recent interest so could go up but would not assume to go over £200k) a bank a/c holding £11K (I KNOW!!!) and a house with…
