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Gifts from Income
Hi My mum passed away recently and as executor I'm completing the IHT400 form in order to claim her RNRB, her NRB and the transferable NRB and the RNRB from my Dad who predeceased her. Total estate value can therefore be £1 million before we owe IHT. I'm stuck on the gifts from income bit - IHT403 - my Mum gave my sibling…
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CGT on Discretionary Trust Following Beneficiary Death
Hi, and thanks in advance for any responses. (Based in Scotland) My mother and father put their house into a Family Protection Trust (Discretionary Trust) in 2009. My father died in 2019 and mum died December 2025. They had lived in the house since 1958, and mum still lived there until her death. We are now in the process…
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C1 Confirmation wording - Scotland
I am helping to complete a C1 form. The C1 is fine apart from the declaration page. In the deceased's Will he nominated wife as executor nominate, and his two daughters as reserves. The deceased's wife has predeceased him leaving the two daughters as default executors. Both have agreed the eldest will be the main executor…
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Second parents death and totally confused with IHT
Father died in 2014 when half of their house was left to me to hopefully prevent IHT. This accounted for £175000 in value which i understand was taken from his allowance of £325000. No extra allowance as available then so only £150000 to transfer to my mother who has recently passed away. So her half of the house which now…
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Query re bank account and my status
Hi all I'm applying for grant of letters of administration following the death of my mum in early January. (She died without making a will unfortunately). I had a joint bank account with mum since 1993. Upon her death she has been removed from that account and it is just in my name. I intend to share the money in that…
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Query re probate application
I’m about to apply for probate as my mum just passed away. The house / title is in my late father’s name. He left house to mum. She then left house to me and my sisters. But title/house still in dad’s name. Am I about to encounter a problem before I start. ?
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Need for a Trust or not?
Thanks to those who replied to my previous threads, very helpful. I’m helping my niece sort out her late mother’s affairs. She left a will, but both executors have died, so we know about the need for letters of administration. One of the beneficiaries is under 18 and we’ve already established that two adminstrators are…
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Son's widow unsure what she's entitled to
This discussion was created from comments split from: Letters of administration / poers of probate.
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Gifts from surplus income and monthly Discounted Gift Trust receipts
Yet another question on gifting from surplus income. I am being told that regular monthly receipts to the settlor of a Discounted Gift Trust are considered as capital, not income. (in this specific case with an annual value equal to 5% of the original fund). A quick google search seems to suggest this is the case. The Gift…
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My Estate Management Spreadsheet
Having recently navigated the complexities of the executor process, I know first-hand the weight of that responsibility. When I was first faced with an estate to administer, I quickly realised that research alone wasn't enough. As an executor, you are legally required to count every penny and, crucially, adhere to the…
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Transferring name on house deeds following parent death
My mother died leaving me her house. I am the executor of the will (along with my husband) and sole beneficiary. probate has been done and granted, there is no mortgage or debts on the property and it is freehold, but now trying to work best and cheapest way to transfer deeds to my name. Can someone simplify what I need to…
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Inheritance tax and joint tenants/ tenants in common
I need help deciding which is the best option for me and my brother. We have both inherited my mums house and want to keep it and live in it but need help deciding whether to change the deeds to a Joint tenant or tenants in common? Which is the best option for paying less inheritance tax when one of us dies?
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Chattel and personal property query
Please can someone clarify I - named here am entitled to all personal belongings such as a car in this will if I’m named as being gifted absolutely all personal chattel? Or would the trustees also be entitled to a share it? Thank you. WILL 4. GIVE to my said wife absolutely all my personal chattels as defined in Paragraph…
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Letters of Administration with an existing will
My sister in law died recently. She left a will, but both of her executors have died. Her daughter (next of Kin) would like to know how to apply for letters of administration where there is a valid will in existence. I’ve looked at Form PA1a and it only seems to cover circumstances where there is no will. Grateful for any…
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Advise about Probate.Hyperthetical
I hope you can explain for me. Say you had 300k joint owners house 300k pension pot and 200k in ISA split between married couple apart from pension pot which is husbands When husband or wife dies first probate would still be needed for ISA 100K Then when second person passed away your children would need probate ( their 2…
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Beneficiary under 18. Two applicants required.
I’ve looked at Form PA1P, and one section asks if any of the beneficiaries are under 18, which is the case with my sister in law’s will. It also states "Please note two applicants will need to apply in Section A. Contact HMCTS Probate to see who is entitled to make the application." Does anyone know what that entails?…
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Increase in Estate value- any effect on my inherited NRB?
Since his death, and since Probate was obtained, I have sold many items from my late husband’s collections, which have, over time, substantially increased the value of his estate, which was divided three ways, so I am not the sole beneficiary. When I completed Probate I had no idea that he had so many collectibles, and I…
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Premium bonds after bereavement
my dad passed away recently unfortunately my mum noticed my dad has quite a lot in premium bonds, which she now gets she just wants to cash them in so the money goes to her current account she is 100% computer illiterate and doesn't want to do nanything online can you do it over the phone instead and is it straightforward…
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Balloon Payments and IHT
Hello, Deceased had car on finance. Outstanding finance at date of death was 5753.70 PLUS a balloon payment of 12786 so total 18539. On the IHT liabilities do you state outstanding finance including the balloon payment? Chat gpt and google say yes but I wanted to check with you brainy bunch. Many thanks
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Charitable Donations and Gifts out of Surplus Income (IHT)
Hi, I would like to ask for an opinion on the following – how charitable donations are treated when they are given in combination with gifts from surplus income. In the specific scenario I am asking about, the estate will be near the threshold for IHT. Regular monthly gifts are being given to the children, well documented,…
