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I was left half a house

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Comments

  • DevilsAdvocate1
    DevilsAdvocate1 Posts: 1,912 Forumite
    Part of the Furniture 1,000 Posts Name Dropper

    Also, I have a copy of the will (actually think its the orginal).. I will have a read through it again.

  • Keep_pedalling
    Keep_pedalling Posts: 22,654 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 2 April at 3:26PM

    The only way to convert the absolute gift with an IPDI trust would be for you to have made a deed of variation which would have in effect changed your mother’s will. Unfortunately that would have had to be done e within two years of her death so that ship has sailed.

  • RAS
    RAS Posts: 36,526 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 2 April at 6:23PM

    Sadly, it was for you to organise the deed of variation, not dad and you've missed the deadline.

    The DIY will means that when dad dies or sells the house, you will have to pay CGT on the gain in value since mum's death, within 60 days of the sale. There would have been nothing to pay if the IPDI Trust had been in place.

    Do you know what value dad placed on house when he got probate?

    If you've have not made a mistake, you've made nothing
  • Keep_pedalling
    Keep_pedalling Posts: 22,654 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic

    I did ask if the OPs father had actually applied for probate as I suspect it was not done at the time. If that is the case then it would be wise to estimate the value on the highside.

  • DevilsAdvocate1
    DevilsAdvocate1 Posts: 1,912 Forumite
    Part of the Furniture 1,000 Posts Name Dropper

    I saw my dad this morning and we talked very briefly about it. Will talk more next week. At first he said probate was done as he did this when my nana died, but her situation was more complicated. He then admitted that he didn't think he did it. He is going to look at the paperwork from that time. He said he may not have done it seeing as everything was to go to me, so he just transferred her accounts to me and handed over the jewellry (which he actually wrapped and gave me as a Christmas present, which was a bit odd). Most of the jewellry was costume and of little to no value. But sentimental.

  • RAS
    RAS Posts: 36,526 Forumite
    Part of the Furniture 10,000 Posts Name Dropper

    Go the Probate Registry. www.gov.uk/search-will-probate/

    If dad got probate, there will be a record. Start with the year of her death and work forward. Absolutely no need to actually order a copy of the will, you can search the index for free.

    If you want to check that you are searching properly, trying looking for nana's first.

    If you've have not made a mistake, you've made nothing
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