Distrust of Co-Executor plus Capital Gains Tax query

bingaling

With further discussion today, since she was exec to her late mother-in-laws estate a few months ago, and, we know that she and her hubby inherited at least £100,000 (not inclusive of the property) that she may not have filled the IHT and CGT relating to that estate.

If that is the case, what position would that put her in?

bingaling

I am thinking that as well as all the other stuff, that she trying to coerce me and my hubby into tax evasion as well - which has made me feel sick, thank god it is in the hands of the solicitors as hubby and I are completely transparent here...

Yorkshireman99

bingaling wrote: »

With further discussion today, since she was exec to her late mother-in-laws estate a few months ago, and, we know that she and her hubby inherited at least £100,000 (not inclusive of the property) that she may not have filled the IHT and CGT relating to that estate.

If that is the case, what position would that put her in?

Check here to see if there is probate. A copy of the will costs £10 AFAIK.

https://www.gov.uk/wills-probate-inheritance/searching-for-probate-records

Making a fraudulent probate and IHT is a serious criminal offense.

bingaling

Thank you Yorkshireman99 - there was no probate with MI Laws estate - sister confirmed this a while ago and hence telling me that she had manage that estate without probate and that is why she told me probate was not require for Dad's estate. They were always terrified when we ever mentioned the forms for IHT and CGT and tried to bamboozle us with incessant rubbish blurb and further calling me and my hubby thick for having no understanding of such things.

RAS

bingaling wrote: »

. They were always terrified when we ever mentioned the forms for IHT and CGT and tried to bamboozle us with incessant rubbish blurb and further calling me and my hubby thick for having no understanding of such things.

Only "thick" people pay taxes?

Any idea of the value of MIL's property? Any chance they got her to put it in their names prior to her death. If she still lived there it would be a gift with reservation and therefore still liable to IHT.

The Land Registry costs £3 a throw.

bingaling

Thank you RAS - No idea of value of sisters MIL property and I don't have any address details, she lived quite a distance from us. I don't know either if MIL signed over the house prior to death. The beneficiaries to sisters MIL estate was shared between all three bothers (her hubby being one of them. She was executor and as as her hubby pointed out there were no arguments there.

RAS

If there was a property then they have to get probate in order to transfer the property or to sell it.

You could try https://www.192.com?

Yorkshireman99

bingaling wrote: »

Thank you Yorkshireman99 - there was no probate with MI Laws estate - sister confirmed this a while ago and hence telling me that she had manage that estate without probate and that is why she told me probate was not require for Dad's estate. They were always terrified when we ever mentioned the forms for IHT and CGT and tried to bamboozle us with incessant rubbish blurb and further calling me and my hubby thick for having no understanding of such things.

If there was a property then probate would have been essential. It is sort5h checking the probate registry which costs nothing.

bingaling

Have found MIL property was sold just after her death for just under 450K, and 3 bothers to split between. will do more checks...

RAS

If the house was a joint tenancy between MIL and FIL, there may have been a full double IHT allowance (anything up to £650K depending when FIL died), so not actual IHT to pay once the allowance was used.

Unless the brothers (or SIL) got the house transferred to their names prior to MIL's death then probate was required for the sale.