Forum Home» Marriage, Relationships & Families» Deaths, Funerals & Probate

Distrust of Co-Executor plus Capital Gains Tax query - Page 13

New Post Advanced Search

Distrust of Co-Executor plus Capital Gains Tax query

edited 30 November -1 at 1:00AM in Deaths, Funerals & Probate
129 replies 16.3K views
1789101113»

Replies

  • FreeBearFreeBear Forumite
    4.5K posts
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    ukmaggie45 wrote: »
    Look at bank statements for any dividends. Plus I think there are 2 places in UK that have shares registered with them. One is Equaniti, but can't remember offhand the other.

    The three share registrars are:
    • Equiniti
    • Capita
    • Compushare
    None of them will tell you what shares a client holds unless you have an account number for them. If there are investments such as unit trusts, these are usually handled outside of the share registrars and you'll need to contact the fund managers directly.

    In all, good fun (not). If you don't know what shares, trusts, or bonds are held, then it will be a case of picking over bank statements forensically to find some trace of dividends. I doubt the Experian credit report will be of much use, and quite frankly, the Unclaimed Asset Register will be a complete waste of £25.
    Her courage will change the world.

    Treasure the moments that you have. Savour them for as long as you can for they will never come back again.
  • edited 21 February 2016 at 9:34PM
    bingalingbingaling Forumite
    64 posts
    edited 21 February 2016 at 9:34PM
    Thank you ukmaggie45 and FreeBear. Have found a unit trust payment on one bank statement. Have also found an Annuity regular payments up until DOD. Both companies not on sisters spreadsheet. So, that is 3 in total investments not accounted for.
    Have written letters tonight to said companies. Yep FreeBear - already paid the £25 to UAR - returned nothing. Appears that Dad has been paying for car Ins for years after getting rid of car... unless this is paying for sisters insurance.. checking tomorrow. Although I do realise that insurance does just renew, but upset that sister being POA did not notify them.
  • Update: Sister has managed to obtain all payments for Dad's cash assets (including the largest one at approx £60,000 - we are awaiting statements for this) but for one savings account, which my hubby has been corresponding with, they have refused to pay out to sisters husband co-exec, they will only pay out with Probate. Sister has now requested executors to go to solicitors to arrange this! Once Probate has been granted, what will happen regarding all the cash assets sister and co-exec have already claimed? Will is draw out any irregularities of the handling of cash assets?
  • Update: After 8 months now, Hubby and I have now completed our forensic search through each of Dad's bank accounts and all other investments that Sister declared on her spreadsheet at the beginning. All figures that she declared more or less tally with our records of which we obtained from the banks. She has declared all investments where Dad received dividends/income etc.
    I am still sure that Dad had other investments where, rather than receiving any dividends/income from, that the investment accrued. But, as advised on here, I am unable to obtain any info without knowing of where these investments were held.
    We finally have the "files" of Dad's financial info but, of course, we can not confirm if this file is complete, as Dad originally left it which sister and her hubby have had possession of throughout this process until recently.
    All the money mentioned above is now in joint Exec's account (without Probate). Pecuniary Legacies have been paid out to her children.
    Since the majority of money was obtained by sisters husband - Co-executor (without my Hubby's knowledge) we have asked him and sister to sign a declaration to confirm this. They signed our declaration but with "WITHOUT PREJUDICE" and have refused to remove this statement when questioned.
    We spoke to our solicitor a while ago and he confirmed that they would not be able to find any other accounts that were not stated on sisters spreadsheet and could only verify the figures she stated against the banks figures (we checked and they do match) Same answer for Probate Office.
    Through one tel con with sis and her hub and my hubby, again, they are terrified of Inland Revenue, but with my hubby insisting on completing IHT forms (even though we have calculated zero for me and sis) sister was screaming "don't include the (her) children on any forms!
    Through all the correspondence between us, hubby and I suspect that sister (as she had access to Dad's accounts) may have cashed in an investment/s of Dad's (which obv we were not aware he had) and paid it into her children's account because she may think that IR would not investigate a 10 yr old's account.
    As mentioned before now, our relationship between sister and me has completely broken down and I have no loyalties to her as I just want the truth, and she and her hubby have obstructed all the way.
    Would IR be able to look into this if hubby explained that he can not declare the figures that sister stated are complete, as we had to rely on the figures she provided in the beginning. Would they be able to look into her children's accounts too to see if any investments were cashed and transferred to her children or herself/husband?
    I would be grateful again if anyone can help at this final stage for advice.
  • bingaling wrote: »
    Update: After 8 months now, Hubby and I have now completed our forensic search through each of Dad's bank accounts and all other investments that Sister declared on her spreadsheet at the beginning. All figures that she declared more or less tally with our records of which we obtained from the banks. She has declared all investments where Dad received dividends/income etc.
    I am still sure that Dad had other investments where, rather than receiving any dividends/income from, that the investment accrued. But, as advised on here, I am unable to obtain any info without knowing of where these investments were held.
    We finally have the "files" of Dad's financial info but, of course, we can not confirm if this file is complete, as Dad originally left it which sister and her hubby have had possession of throughout this process until recently.
    All the money mentioned above is now in joint Exec's account (without Probate). Pecuniary Legacies have been paid out to her children.
    Since the majority of money was obtained by sisters husband - Co-executor (without my Hubby's knowledge) we have asked him and sister to sign a declaration to confirm this. They signed our declaration but with "WITHOUT PREJUDICE" and have refused to remove this statement when questioned.
    We spoke to our solicitor a while ago and he confirmed that they would not be able to find any other accounts that were not stated on sisters spreadsheet and could only verify the figures she stated against the banks figures (we checked and they do match) Same answer for Probate Office.
    Through one tel con with sis and her hub and my hubby, again, they are terrified of Inland Revenue, but with my hubby insisting on completing IHT forms (even though we have calculated zero for me and sis) sister was screaming "don't include the (her) children on any forms!
    Through all the correspondence between us, hubby and I suspect that sister (as she had access to Dad's accounts) may have cashed in an investment/s of Dad's (which obv we were not aware he had) and paid it into her children's account because she may think that IR would not investigate a 10 yr old's account.
    As mentioned before now, our relationship between sister and me has completely broken down and I have no loyalties to her as I just want the truth, and she and her hubby have obstructed all the way.
    Would IR be able to look into this if hubby explained that he can not declare the figures that sister stated are complete, as we had to rely on the figures she provided in the beginning. Would they be able to look into her children's accounts too to see if any investments were cashed and transferred to her children or herself/husband?
    I would be grateful again if anyone can help at this final stage for advice.
    Personally I would send full details to HMR&C and let them get on with it. Your sister and her husband have behaved despicably and deserve to be shopped.
  • Can anyone help, co-executor has now applied for Probate even though all the money "declared" on their spreadsheet is now in the bank - they were advised to go to probate for IHT purposes, even though we know that there is no IHT to pay. We contacted Inland Revenue twice plus the probate office to explain how the estate was handled by Co-executor and that the figures he and sis are declaring to them may not be true, and both have advised us that there is nothing they can do to look into these figures. Is there anyone else we can contact (my hubby as co-exec did not apply jointly with other co-exec for probate) Many thanks
  • bingaling wrote: »
    Can anyone help, co-executor has now applied for Probate even though all the money "declared" on their spreadsheet is now in the bank - they were advised to go to probate for IHT purposes, even though we know that there is no IHT to pay. We contacted Inland Revenue twice plus the probate office to explain how the estate was handled by Co-executor and that the figures he and sis are declaring to them may not be true, and both have advised us that there is nothing they can do to look into these figures. Is there anyone else we can contact (my hubby as co-exec did not apply jointly with other co-exec for probate) Many thanks
    You can ask the Probate Office to place a caveat on the application that stops probate being granted for six months. Give the probvate ofice a ll the facts.
  • edited 16 November 2016 at 11:52PM
    konarkkonark Forumite
    1.3K posts
    edited 16 November 2016 at 11:52PM
    If your husband is named as co-executor but did not apply for probate he will have to be formally notified and possibly sign a form renouncing or reserving this role before probate will be granted. If he doesn't do this it can stop or delay probate. Your husband could also object to the application, or ask to be a joint applicant. If there is a dispute about who should apply, the matter may be determined by the probate court.

    However I think that you can't renounce or be excluded if you have already acted as executor e.g by collecting assets. etc
  • Bingaling I have no advice but wanted to,say I am sorry for you loss and that sibling is putting you through this.

    Family eh. Keep strong
This discussion has been closed.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support