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IHT400: Aegon General Investment Account - where to put it?
Good evening, I rang HMRC this morning to ask where to put the GIA from my late mother's Aegon holding. I was told to put the value in IHT406 Box 2 along with bank and building society accounts, which is something I believe I have also read on this forum. When I was double checking IHT411 - shares, ISA's etc, I became…
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Request for Backdated Care Home Fees
My FIL sadly passed away in May 2019. He had dementia and was in a care home from February 2018. During this time he was self funded and we paid all monthly invoices promptly. Yesterday, completely out of the blue, my husband received an email with a request for nearly £5500 in unpaid fees. The letter states “We are…
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Inheritance Tax and allowances
Hi i would be very grateful if anyone could help me clarify the position with regards to whether or not my late Mum’s estate will attract IHT. I don’t believe it will but I’ve done so much reading around the subject that I’m now not sure! Initially, my siblings and I were planning on dealing with probate ourselves but it…
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Inheritance tax thoughts
Hello, Ive been researching inheritance tax and have given myself a headache. My house and saving are about 750k. I’m not married and have 2 children who are adults. My partner lives with me. I own the house. I know I have a personal allowance of 325k and residence if passed to children of 175k so 500 in total. I would…
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Understanding IHT & allowances
I am currently sorting family finances and would like someone to clarify that i have calculated allowances correctly in my circumstances please ...... Mum & Dad Married . age late 80`s home owner no mortgage with current Wills Mum ..... savings / shares / assets 400K Dad .... savings / shares / assets 400K + sole name on…
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Living abroad - executor of will
My father passed away recently, and both my brother and I are named executors of the will, with a 50/50 spilt of his property and land. I live abroad and wonder how this works? My brother should lodging the Will with the Sherif Clerks office in Scotland but how does it work for me, do I need to do anything? Also, I don’t…
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remainderman predeceased a life tenant
hi, having so 2 different answers off 2 different solicitors Im looking here for advice. My dad was a remainderman on a property where the life tenant still resides. However my dad has left some debts (mainly HMRC) & basically there is insufficient money to cover the cost of the funeral. On the probate application I dont…
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Joint Executor Bank Account set up
Hi , could anyone please offer some advice. My partner and her Brother are both executors of her recently passed away Uncles will. While applying for probate we have been advised to set up a joint executors account to handle his estate. It seems that there are no banks that offer the service especially during this troubled…
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Sibling cut out of Will
Do I need to tell them this before it goes to Probate? They're No Contact with us all & won't officially know they're not included in the Will.
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Inheritance Tax
My Uncle has an estate which goes over the inheritance tax threshold. There are almost no liquid assets.Most of the value of the estate is in the house and a huge collection of stamps and other phillatelic material.The value of which might be similar to the house.Getting it valued and sold will take at least a couple of…
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Does signing a copy of a lost original will make the copy acceptable as a valid will?
My wife and I had simple Mirror Wills drawn up by a wills company about 10 years ago. We have photocopies but not the originals, which were given to the wiils company for starage. This company has disappeared and never billed us for storage, so we don't have the originals. If we were to re-sign and have our signatures…
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Probate/estate conundrum......
Hi all My Mum recently passed away aged 82. Probate has been granted last week. She had collected quite a lot of gold jewellery over the yrs and months before she died gave some gold to my son to have a signet ring made for his 21st bday which he did - and managed to show her literally weeks before she passed. My brother…
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Probate Valuations
When declaring assets and their values for probate how much detail do you need?Would one have to declare every book in a library individually for example or can you just estimate the whole value?
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Confirmation and life insurance claim in Scotland
I'm looking to make a life insurance claim and the insurer is requesting confirmation certificate but court are saying that one will not be produced as life insurance payment does not form part of an estate, I have just received executor-dative status as no will was left. Can anyone also tell me how to word Box 2 on the…
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PET gifting via joint account
My wfe and I would like to make a PET gift (say £100K) to our adult son. We are likely to exceed the IHT threshold, and are both at an age where we don't want to predict who might die sooner, so hedging our bets seems best. We have a joint bank account and separate ISA accounts. If we each make a transfer of £50K from our…
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How to find pensions/life insurance policies of deceased
hi Im at a loss. I want to check if my dad (recently deceased) had any pensions or life insurance at all. I believe he cashed some pensions in a few years ago but I cant find any paperwork to start asking questions. What's the best way forward please? Gov.UK was no help at all as I don't have any details to put into the…
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Is CGT payable when cashing in shares?
Decesaed left shares. Beneficiary gets residue of estate and happy for the shares to be cashed in and she gets the cash rather than a transfer of shares. What do i need to consider from a cgt perspective? Shares have increased approx £8k since DOD. I am aware that the CGT rate will be reduced from april onwards so…
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Grant of Probate - Legal obligations of the bank?
Are banks legally obliged to release money once grant of probate has been obtained? The grant of probate for my late father's estate was obtained in December 2023. The legal team dealing with his estate have already received money from a couple of his savings accounts, but are still awaiting from his bank (TSB). I sent…
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How do I get original POA from solicitors
My dad has loss mental capacity and I’m POA for him for property and finance but I need original for banks etc, the solicitors told me they need a letter from the hospital as proof, the hospital won’t do this due to data protection act and the doctors have told me I need to fill out COP3 form and bring it back and it will…
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How long for HMRC to respond to tax on a Simple Estate
As per https://www.gov.uk/probate-estate/reporting-the-estate the executor of my late relative's estate (having sold all of the assets to cash) will soon be reporting the tax owed on this 'simple' estate by writing a letter to the HMRC with details of interest and dividends received into the estate during the…