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TR1 transferring to trust for life occupancy of surviving tenant in common
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Wingnut1001
Posts: 6 Forumite
My wife and I were tenants in common.
In our mirrored wills, we granted lifetime occupancy to the surviving partner. On the second death the house (proceeds) would go 50% to her descendants (her will) and 50% to mine (my will).
My wife died a year or so ago. Probate is all finished and the only thing left for me to do is sort out the house and Land Registry. I am advised that I need to complete a TR1 and an AP1 to put her half share into a trust held by me and the other executor.
Re the TR1...
Panel 4 Transferor: - Can that be just me, or do I need to add me again as my wife's executor or the other executor?
Panel 5 Transferee: - I assume this should be me and the other executor. Is it that simple?
Panel 8 Consideration: - I think box 3 is ticked and reference to the will should be included? Anything else?
Panel 10 Declaration of trust: - Again box 3 should be ticked with reference to the will?
I don't think anything is needed in Panels 11 and 12. Correct?
Grateful for any advice on this. I can't be the first to go through this so why is it so hard to find examples on the www?
Thanks
In our mirrored wills, we granted lifetime occupancy to the surviving partner. On the second death the house (proceeds) would go 50% to her descendants (her will) and 50% to mine (my will).
My wife died a year or so ago. Probate is all finished and the only thing left for me to do is sort out the house and Land Registry. I am advised that I need to complete a TR1 and an AP1 to put her half share into a trust held by me and the other executor.
Re the TR1...
Panel 4 Transferor: - Can that be just me, or do I need to add me again as my wife's executor or the other executor?
Panel 5 Transferee: - I assume this should be me and the other executor. Is it that simple?
Panel 8 Consideration: - I think box 3 is ticked and reference to the will should be included? Anything else?
Panel 10 Declaration of trust: - Again box 3 should be ticked with reference to the will?
I don't think anything is needed in Panels 11 and 12. Correct?
Grateful for any advice on this. I can't be the first to go through this so why is it so hard to find examples on the www?
Thanks
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