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I'm trying to understand how Inheritance Tax is affected by trust wills - can anyone help please?
We're doing our wills and have been advised to consider doing trust wills so that when one of us kicks the bucket a trust is created with the surviving spouse the main beneficiary but providing a level of protection for our young daughter to ensure she gets a decent inheritance, but I'm struggling to get my head around how…
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Inheritance tax on gift used as housing deposit
Hi, An elderly family member (not immediate) has told me they have left me £100k in their will. As I’m looking to buy a house, they have said I can have the money now (before they pass away) if it will help with a deposit. I’m aware of the 7 year rule and tbh am not sure if they’ll live that long. I think their estate…
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RNRB downsizing - do I qualify?
Still sorting through my probate requirements and can't find the answer to one question ; property sold for £312000 in 2018- no new property bought. I have £200000 left to leave to children, so less than the property value. So can I[my executors] claim any of the downsizing addition - would be roughly two thirds of the…
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Requirement to use services of solicitor already appointed as executor
My mother has appointed me as co-executor of her estate with a firm of solicitors. I am the sole beneficiary, and the estate (although moderately large and subject to inheritance tax, is not very complex). I would like to administer the estate and apply for probate myself, but the solicitors are insisting that it is a…
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Land Registry Question
Hi there, In the past 18 months I have lost both of my parents, my Dad 6 weeks ago. When my Mum died, I don’t believe that Dad removed her from the house deeds. As executor of their property which will be sold once probate has been granted, do I have to make sure both names are removed? Many thanks
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Appointing a Professional as an Executor
After a sizeable inheritance, and looking forward to my upcoming marriage, I wish to make a will. I don't have one right now. I've got the division of assets clear in my head, and that's no problem. But, the largest amount of my inheritance will go to my son, but I feel he's not ready to be an executor. My fiancee is from…
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Questions from the probate office
I sent away my mums original will 3 weeks ago and it was received no problem by them. Yesterday I received an email from the probate asking questions regarding it. The will was bound together with ribbon through 2 punch holes with no staples on the will at all. I took a copy of the will before sending it and have double…
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Dad died with PCP, can they do this?
Hi all, my dad died a fortnight ago and he had a brand new car on PCP; the finance was through Santander consumer and it was just in his name. The settlement figure is £24,500 or so and my dad had paid 13 payments of around £364 out of a total of 48 due payments. My mother cannot afford to keep the car (she wasn’t happy he…
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Making administering an estate easier before death
Hi everyone My parents have come to me for some advice on a looming situation concerning my father's brother who was recently diagnosed with terminal cancer. They are the type of family who don't talk much to each other about "difficult" subjects such as death, finances and such like, so I thought I'd ask you knowledgable…
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DWP and Land registry
Hi all, I need some advice please! It's a long story but the DWP have sent me a large unpaid bill which apparently is based on a property they believe my late father had. But the said property actually belonged to his friend who passed away in 2021 and my father briefly resided there. The DWP has asked me to prove that my…
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Bank Has Renouced its Executorship
My Uncle's will had his bank as his executor. They have sent me a renouncement certificate and I have taken over as the executor, so far so good! I then went to apply for Probate, filling out the online form it states that as the will names the bank the Probate Office will not accept me, as I'm not named in the will. (just…
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IHT30 HMRC having it both ways
So you get probate, pay IHT and then some time later can seek an IHT30 clearance certificate to confirm that HMRC are happy with the amount of IHT you paid.Overall this means they are happy that the estate (which may have included a property) was valued correctly at the date of death.But they sneak in this cheeky line on…
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What does the term 'docquetted' mean in a will?
Can anyone explain what the term 'docquetted' means in relation to a will?
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Repairs on inherited / probate property
Hello, Apologies if this has been asked before, I couldn't find a concrete answer. When inheriting a property that needs significant repairs (damp and electrical), can these expenses be claimed from the estate therefore reducing the inheritance tax liability? Thanks.
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Probate Query
Hi, my stepfather died on Monday and I am trying work out what to do next, we are waiting on the death certificate but I think I may need to apply for probate, from what I can gather he has around 60k in his current account, no savings in his sole name and no will. My mum and he always kept their finances separate despite…
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Premium Bonds - NS&I
Sorry if this is the wrong place to post but need some advice. My grandparents passed away last year a few weeks apart. Both having premium bonds. Lets call them N&G. They were married. N passed away first and everything passed to G G passed away and probate was applied for. N&SI have released the premium bonds G held as…
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What next?
I will try to make this as short as possible. My FIL died last year; he had been in a care home and there had been a huge dispute between the siblings (who were all on the same page) and their step mother regarding how much money she demanded from her husband's funds to keep the house etc. Her name is not on the deeds and…
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Missing will, believed to have been "misappropriated" by disgruntled family member: How to proceed?
Person A passed away. Person B is the executor of the will and the child of Person A. Person C is a sibling of the executor and also a child of Person A. Person B is named in the will and Person C isn't. The original document has gone missing from Person A's house, and has believed to have been misappropriated by Person C.…
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IHT guidance
I've been following this thread for a while and would appreciate some help pls. My wife recently passed away. We both have mirror wills with everything left to me. However, my wife did make a couple of gifts in the past few years and I'm trying to figure out if tax is due: 1. Property gift to our children. Value £300k. She…
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Just wondering. How long was it between the death and the funeral or cremation.
My father died earlier this year. He was in the funeral home for 6 weeks. Six whole weeks, we took the earliest date the crematorium in our town had an appointment for the service and cremation. Six weeks seems a long time to be in a fridge, and he was claustrophobic in life. When I lived in Ireland if you died one week,…
