The Great Hunt: Help others if you've been an executor of a will

Red_sky

Yorkshireman99 wrote: »

On an estate of £499,999 the fee is less than 0.2% that is hardly excessive is it?

That's not the point. It's still a lot of money just for processing a form. £215 is enough.

They're already going to get 40% above the threshold.

This is just another way of taxing us.

Keep_pedalling

Red_sky wrote: »

That's not the point. It's still a lot of money just for processing a form. £215 is enough.

They're already going to get 40% above the threshold.

This is just another way of taxing us.

But for most of us that threashold has just shot up by £100k each and will go up another £50k by 2021. Had they not given so much on the primary residence nil rate band and kept probate fees unchanged, then no one would be complaining even if we could be worse off.

As it stands the net gain for our joint estate is £128k (assuming 2 lots of probate will be required) so not such a big deal.

Red_sky

Keep_pedalling wrote: »

But for most of us that threashold has just shot up by £100k each and will go up another £50k by 2021. Had they not given so much on the primary residence nil rate band and kept probate fees unchanged, then no one would be complaining even if we could be worse off.

As it stands the net gain for our joint estate is £128k (assuming 2 lots of probate will be required) so not such a big deal.

That's ok if you're leaving your house to direct descendants which some people are not. Also, the Residence Nil Rate Band goes up to £175,000 in 2020 rising by £25,000 each year from next year.

My point is £1000 + is too much for processing one single form unless you've got money to waste of course. It's just another way of fleecing us.

Keep_pedalling

Red_sky wrote: »

That's ok if you're leaving your house to direct descendants which some people are not. Also, the Residence Nil Rate Band goes up to £175,000 in 2020 rising by £25,000 each year from next year.

My point is £1000 + is too much for processing one single form unless you've got money to waste of course. It's just another way of fleecing us.

So how do you suggest we raise that revenue to pay for the court system?

Those who have no children to take advantage of the primary residence nil rate band are hardly going to miss it when they are dead, and have hardly any reason to worry about it when they are alive. If they are worried about it perhaps they should try and use a bit more up while they are alive.

TheBanker

Please can your guide cover how to deal with an insolvent estate? This is a question that crops up here from time to time and is an area where someone can unintentionally cause quite a few problems through their efforts to help.

Yorkshireman99

TheBanker wrote: »

Please can your guide cover how to deal with an insolvent estate? This is a question that crops up here from time to time and is an area where someone can unintentionally cause quite a few problems through their efforts to help.

Simple answer don't get involved. There are many pitfalls for the unwary.

Rosie1980

It seems you can now do the IHT forms online, that will probably make things a bit simpler.

Bodder42

I will try to keep this short ..
I am an executor of a will and we are trying to find hidden information about where the deceased held his assets.. the solicitor conducted Experian search and wrote to his banks which has showed nothing or given any clue where to look next. We need to conduct extensive searches to locate the assets but have no clue where to start.. can anybody advise? Is this a free service and any information will be appreciated..

Keep_pedalling

Bodder42 wrote: »

I will try to keep this short ..
I am an executor of a will and we are trying to find hidden information about where the deceased held his assets.. the solicitor conducted Experian search and wrote to his banks which has showed nothing or given any clue where to look next. We need to conduct extensive searches to locate the assets but have no clue where to start.. can anybody advise? Is this a free service and any information will be appreciated..

Have you tried https://www.mylostaccount.org.uk/

randers

I realise you've almost certainly done this, but just in case...
How do you know he had assets? - is it word of mouth, or credits appearing in a bank account for instance. Is there anything there that you could work back from?