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Help needed regarding Joint Executors
A few years back we had mirror wills drawn up by a solicitor which on first death leaves everything to surviving spouse (who would be the executor) and on the second death to our three children. Two of our children live abroad so I was concerned about the executors at that stage. I took the solicitor's advice to appoint…
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inheritance not received, executor has passed and funds have been spent
Hi all, hoping for clarity on an issue My late FIL was executor to his late mother's will, in which she left a sum to her grandchildren to be received on their 21st birthday. My FIL was to hold these monies until such time arrived for each child, however it seems he used this money for one thing or another. He has now…
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When is Probate not Probate
We have used a solicitor to apply for probate and it was granted back in March. We came to sell the property and buyers solicitor has said the extracting solicitors name is incorrect on the grant and we cannot proceed (The address etc is correct just solicitors company name). We are getting this corrected (which has taken…
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Possible Labour Changes in Inheritance Tax
Both my parents have passed in the last 10 years, my mother lastly 5 years ago. Being the sole beneficiary, with no inheritance tax due under current legislation, I have stupidly not sort probate(partly due to exhaustion of being a carer and my own cancer scare) in those 5 years. With a new budget due end of Oct 2024, and…
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Theft of assets belonging to an estate
My cousin’s father-in-law recently died in his 70s after a long illness. He had four children. Two from his first marriage, two from his second (with a 20 year age gap between siblings 2 and 3 so the two pairs aren’t super close with each other), and none from his third marriage which happened much later in life. Both of…
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Post Probate HMRC demand
Mum died in December 2023. Simple estate and probate has been done (by a probate company) and beneficiaries paid out. Now today I received a demand from HMRC for underpaid tax on her savings. They make no mention of her death and have my address incorrect. The letter is addressed to me (I assume as I was POA but that role…
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help with next steps
My mothers husband dies over three years ago. There was no Will so had to go to probate. My mother paid up front a local company to deal with the estate. He had a surviving daughter who will be entitle to half of the Estate over the £270K. The 'company' a Cilex registered person then took over 18 months to apply for…
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Implications of inheriting a property which sibling wants to live in
My mother has a bungalow and intended to leave it to myself. My brother inherited a house my grandmother left to my mother some 40 plus years ago. The property was subject to a compulsory purchase order by the council and my brother received the majority of the money, I am not sure of the exact amount but believe it may…
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Personal Chattels promised but not "officially"
In a will from 1999 there is the following clause ..... 1) "I give to my husband all my personal chattels as defined by Section 55(1 )(x) of the Administration of Estates Act 1925 for his absolute use and benefit and it is my wish (without imposing any legal obligation upon him) that he should deal with this bequest in…
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Will 28 day survivorship clause - inheritance tax
My husband and I are just about to get our wills rewritten, where we leave everything to each other and then to our son The new will (written by a solicitor) says for my husband *--* absolutely if he shall survive me by twenty-eight days but if this
residuary gift should fail for any reason then"I have just become aware…
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IHT Direct Payment Scheme - can we use shares?
My uncle died recently leaving a property worth ~£700k and a portfolio of shares worth ~£250k. His bank balance was relatively small and there are no cash savings accounts. I've seen online that the IHT Direct Payment Scheme can be used to pay IHT using shares, and the HMRC help desk agreed that was possible and suggested…
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Tenants in common and whole life trust
Can anyone help please my partner and I were tenants in common. He has passed away. His 50% share is left in whole life trust to my children. So I can reside in the house until I die. I want to downsize. can I use the 50% in trust , 25% of my share of house to buy new house . does the remainder of money come to me. Could…
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Giving jointly owned house
My dad and uncle currently own an equal share in a house
that my grandfather used to live in and own. They would like to transfer ownership to me
in the most tax efficient way. The most obvious route is for my uncle to give me his half,
and my dad to give me his half. As I understand it, if they both live for more
than…
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Car finance
Hello I am hoping someone can offer some advice. My dad passed away very suddenly with quite a large amount of car finance. I have had to take over dealing with this as my mum is in a state of shock. The car finance was solely in my dad’s name and the house was in joint names as was their bank accounts so there are no…
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payments to spouse for household expenses
Husband and wife, both with independent income. No joint accounts. Husband gives wife £2000-£2500 per month for household expenses (24-30 p.a) Husband records this 24-30k as part of his 'normal expenditure'. Thus reducing the amount of surplus income from which he could otherwise have made 'gifts out of income'. So if she…
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IHT property valuation - sale within 12 months
Advice needed about question 12F on Form IHT405. I've got a professional valuation of the house as at the date of death (April 2024). That obviously goes in Box 8G. The house is going on the market shortly, and estate agents are suggesting we won't get that price. Question 12F says, if you are selling the house within 12…
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Inheritance tax, and jointly owned property sold to pay care debt
Until recently my projected estate would be under the inheritance tax level. However, I was a joint owner of my late mum's rental property, which had now reverted to me by survivorship, and would take me over the line. The property will need to be sold so that my mum's half of the value can go towards the care debt that…
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Simple Funerals question.
Both my husband and I have always said to the children, that when we die, we want to have a very simple funeral. After having a conversation with a friend who recently lost his wife, we are having second thoughts. The funeral director that arranged the funeral of the friends wife, told him that the cheapest funerals with…
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What, if anything, is required after death?
a friend of mine's mother has recently died leaving no will and very little in assets, having given away (substantial) gifts over the last few years I have told them there is probably some kind of inheritance tax reporting required but I'm at a loss to say who has to do what as there is no will and no executor and nobody…
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Will inheritance advice
My parents have made wills which states their house will be split between me and my two brothers one of my brothers wants to give me his share (value approx £40k) if he gifts it to me will I have to pay tax on it or is it possible for me to buy it for a token amount ie £1 thanks
