To DIY or pay someone - probate

ossie48

Daniel54 said:

Does the estate expect to be liable for IHT ? If so, you need to think about avoiding interest at 6.5% without a payment on account with six months of date of death.

Yes it is liable, early maths is showing about £144k to be payable in IHT.  Did I read correctly that we pay interest on that amount from the date of death or have I misconstrued your post.  

Bolt1234

I am doing something similar and I am the executor and a beneficiary.  We have Aims shares too.  I have employed a solicitor as I am not the only beneficiary and the other two are doing nothing bar waiting for their inheritance .

ossie48

Bolt1234 said:

I am doing something similar and I am the executor and a beneficiary.  We have Aims shares too.  I have employed a solicitor as I am not the only beneficiary and the other two are doing nothing bar waiting for their inheritance .

I think we're in a similar position but I simply wouldn't trust the other siblings to even get involved. Reference the AIM market, the two year free from IHT rule worked to a degree in our case and has potentially saved about £50k. The loan trust not so much what with the recent upheaval. There were few gains free from IHT. 

Realistically IHT plans should have been put in place a decade ago but the deceased had to have his arm twisted by his accountant.

Daniel54

ossie48 said:

Daniel54 said:

Does the estate expect to be liable for IHT ? If so, you need to think about avoiding interest at 6.5% without a payment on account with six months of date of death.

Yes it is liable, early maths is showing about £144k to be payable in IHT.  Did I read correctly that we pay interest on that amount from the date of death or have I misconstrued your post.  

The estate has six months from date of death before interest begins to accrue.

Bolt1234

Our AIMS shares are significant and yes the other benefiaries are hopeless although I do get the odd barbed comment from one of them.  They both live abroad.

These old people who have stacks of money yet refuse to do anything about it - what is that all about?  And dont get me started on people who have large sums of money and property and dont bother to do a will!