-
Cheques made payable to 'the estate of...'
I have a few cheques for refunds from utility & insurance companies made payable to 'The Estate of...' and 'Executors for the estate of...). The deceased banked with HSBC. I asked them about setting up an executor account but they more-or-less said that it wasn't worth the bother and to use a dormant account of my own.…
-
RNLB and NRB for Inheritance Tax
Hello, I wonder if anyone clear up an issue I have... My mother and father both have property assets under their names. My father has the main home that they both live in under his name and my mother has a investment property under her name. Even though my mother does not have her name on the main home's title deed, she…
-
Inheritance and partner in law hell, advise needed on highly complicated situation
I do apologise in advance for how long this is going to be but we are desperate for some advice and our funds have been depleted just as another bombshell hits us. We lost our Dad 18 months ago very unexpectedly. There are 4 children, older brother, older sister (vulnerable), myself and younger brother. Over the past 6…
-
Joint Executors, should each know what the position is regarding Probate etc?
My Brother-in law died last August, and myself and a Will Writing firm are named as Executors. When he had his Will drawn up he had paid extra for the Will Writing firm to look after probate etc when he passed away. Therefore I got all his paper work together, he had many investments and also owned two houses, and sent as…
-
Land Registry Update Submission Query
Looking for a couple of pointers please @Land_Registry My brother and I have recently been granted probate on my Fathers house which he owned outright at the time of his death. 1. We are both named on the certificate of probate as executors, is it still the case that we therefore do not need to complete the ID1 form when…
-
Probate granted very quickly - now next steps...
Applied for probate on 22 May, and granted today after just under 2 weeks. A very simple excepted estate (using transfer of nil rate band from a spouse), but nonetheless very impressed by the speed and relieved that I evidently hadn't got anything wrong. A couple of questions re my interpretation of the the next steps…
-
Parent and Uncle not wanting to transfer land registry
My Mum and Uncle inherrited a house from their mum (Grandmother). 50% share each. Tenants in common.The issue is the grandmother has been on the land registry for over 10 years and I didn't realise this. I told them it needs to be updated but they said it can wait until they pass away and the kids can sort it out (me,…
-
Gifting houses to children
My elderly mother owns two houses outright. One is the family home, the other is a holiday let. She has announced she wants to gift the houses to my brother and me (my brother has the family home, I have the let). While I’m aware of the 7 year gift tapering for IHT purposes, I’m unsure of other aspects. 1. Can she gift the…
-
PR for probate goes rogue
My father died last year and around that time I agreed my sibling (lets call him Pete) could be acting personal representative for the probate to simplify proceedings. So far so good. Soon after I agreed to release some money early to pay for family house maintenance Pete required, and I didn't hesitate to do that. This…
-
Downsizing with a Life Interest Will
I will be seeing a solicitor to draw up wills but I am trying to understand the process before making an appointment. A life interest will is proposed to protect 1/2 of the family home for the benefit of children from a first marriage. Can anyone advise what happens if the survivor wishes to then downsize. If for example…
-
IHT and 7 Year Gift Rule
Evening all, I am currently applying for probate of my fathers estate. My Mum died 10 years ago. With regards to IHT are we right in thinking the threshold is £650,000 (there is no property in the estate) before IHT will come into account. Is that right? The estate is likely to be around £525,000. 5 years ago my Father…
-
wills
We had a very basic 2 wills with a firm that has ceased trading, new company took over and we had meeting at our home to draft details for 2 new Trust wills. After chasing up, we received drafts and not happy with them , here's the rub, we paid upfront over 2.5k for these wills and 2 LPA docs but now want to change our…
-
CGT for shares
Please can someone clarify, as I’ve read round and round and I’m totally doubting everything now! I am the only beneficiary of my husband’s estate (through intestacy rules). The only asset he had were shares in the company he worked for. I sold some in the last tax year and some more in this, which have used up all of the…
-
Executor vs Administrator for estate funds
We have appointed solicitors who have applied for probate which is due shortly. They have control of the bank account funds which will contribute to the estate, and in their T&Cs they say they will retain the value of the estate for 6 months post grant to allow for unexpected claims, which I understand is standard. We have…
-
Advice on inheritance Tax, probate, capital gain tax
Please can you help or advice if my mums dies, does she or the children have to pay above inheritance Tax, probate, capital gain tax. My father passed away in 2012 and then my brother then transferred the name to my mum back in 2013. She has 3 sons and 2 daughters and 10 grand kids She only has this house and no other…
-
How long do DVLA and HMRC take to respond?
My Dad died at the end of May with no will. He owned no property as both my parents and I live in a council owned property. I used the Tell Us Once service to contact the relevant government departments. I'm waiting for HMRC to respond regarding his state pension and DVLA about his motorbike. Does anyone know on average…
-
difficult will - all left to spouse other than a share of a property. - extra IHT allowances
The property share of the deceased is split between 2 stepchildren and 4 nephews and nieces . This share of the property is likely to be more than the IHT level in itself. Is there an increase in allowance for IHT purposes in respect of stepchildren only? If so how is the increase in allowance calculated? Does anyone have…
-
How complicated is the letter of administration process?
My Dad died at the end of May with no will. He owned no property as both my parents and I live in a council owned property. So far things have been fairly straightforward. I've organised his cremation, have used the Tell Us Once service to contact the government departments and used a website called Settld to contact…
-
Currency Calculations
When calculating foreign assets for IHT I wonder which online platform to take best and why there are discrepancies in the online converters: The IHT form recommends to convert “at the closing mid-point figure given in the ‘Pound Spot Forward against the Pound’ table shown in the financial pages of daily newspapers or on…
-
Solicitors bad advice on Inheritance Tax
I'm unhappy that my Solicitor didn't give my family the best advice on my late fathers estate. Who can I go to to get some initial free legal advice to see if I've got a genuine complaint or not?
