Shares inheritance

lawrenson

Hi thanks again for the replies!

My mother is her beneficiary I believe. My mum is 90.... Yes, my aunt is aware of the double inheritance tax possibilities but refuses to discuss it.

I have no idea who the executor will be although it is possible it's me.

p00hsticks

lawrenson said:

I have no idea who the executor will be although it is possible it's me.

It's very bad form not to ask someone up front if they are prepared to be an executor. 
An executor can always decline to take on the role, and if they don't want to it's far better for all concerned to establish that at the point the will is written rather than after the death....

Keep_pedalling

As she won’t take advice there is little you more you can do. You mother ( providing she still has mental capacity by then) can always do a deed of variation if she inherits, and at least you are aware of the complications in advance and it won’t come as a shock when she does die. 

lawrenson

Hi, yes I think it's time to leave her to it. Unfortunate but that's the way it is.
Thanks for the advice everyone!

tetrarch

In my experience some older people are excellent at putting off "the future" in exactly the way you describe

I would suggest that you turn this into a "now" problem and HMRC is exactly the way to go. Most people are afraid of the taxman and a change of government gives you an opportunity to ramp up the jeopardy with the TAX EVASION that is currently happening

You state that tax is not being paid on your Uncle's shareholdings, however tax is being reported and whilst it may be below the current allowances, that may not be the case going forward

Regards

Tet 

Reaper

Maybe she doesn't want to talk about it because she thinks someone will try to pull a fast one on her. If so maybe you could arrange for her to meet with an independent financial advisor with no skin in the game.

lawrenson

I am keeping out of it right now as she is saying I tried to bully her into getting it sorted (I refused to order from marks and Spencers until it's done, although my sister still orders from Tesco and Sainsbury's for her). She is telling all the family I am a bully.
One of the reasons she won't talk about it is if she talks about her death it will happen. No comment.
My cousin has just removed my uncles antique motorbike collection from her house. Probably the only non monetary possession of value she had, worth around 150k I would guess. She claims they are worth nothing, and refuses to be told otherwise. (In the past Bonham's were very interested in them but she did think they would Do her).
I am thinking about the Tax Evasion route. I am trying to implant it in my mother's head because she will pass it on most frequently, and possibly be listened to. I am actually surprised HMRC haven't caught up with my aunt already.
I am pretty sure she should be paying tax on the dividends and interest that are still in my uncles name.

xylophone

One wonders what has happened in respect of any pension the deceased may have had or  to which he may have been entitled.

My cousin has just removed my uncles antique motorbike collection from her house. Probably the only non monetary possession of value she had, worth around 150k I would guess. 

With what intention?

lawrenson

I think it was 2015, but am not certain. 
I think my dad (now deceased) probably applied for probate and everything went to my aunt. My uncle did have a surviving sister and 2 nephews.

I have no idea what happened to my uncles pensions but I think my dad probably informed them. 

My uncles bank accounts are running mostly as if he was still alive so possibly the bank hasn't noticed. Share dividends and interest go in automatically. Payments for house utilities come out automatically. I have no idea how much money is in the accounts or if my aunt uses it for anything else.

My cousin has taken the motorbikes to "keep in the family". However my aunt gave him 40k about 5 years ago which he spent, and he's been on at her for more money, so only my Aunt believes that. 

It's going to be a horrible mess when she goes.

lawrenson

[Deleted User] said:

lawrenson said:

I think it was 2015, but am not certain. 
I think my dad (now deceased) probably applied for probate and everything went to my aunt. 

You can check here: https://probatesearch.service.gov.uk

Thanks I will look into that