SV650.org - SV650 & Gladius 650 Forum



Idle Banter For non SV and non bike related chat (and the odd bit of humour - but if any post isn't suitable it'll get deleted real quick).
There's also a "U" rating so please respect this. Newbies can also say "hello" here too.

Reply
 
Thread Tools
Old 15-02-18, 10:23 AM   #1
maviczap
Member
Mega Poster
 
maviczap's Avatar
 
Join Date: Mar 2007
Posts: 9,096
Default Wills & solicitors

Quick question, do I need to employ a solicitor to distribute my mums estate?

Its cash only, no property or other goods, I'm one of the executors, along with my brother.

I'm doing the Probate application, so I don't need one for this, as I know they charge a percentage of the estate.

I have Power of Attorney on my mums bank accounts.

So do I need a solicitor?
__________________
We're riding out tonight to case the promised land
Make everyday count
RIP Reeder - Jolly Green Giant and comedy genius
maviczap is offline   Reply With Quote
Old 15-02-18, 10:37 AM   #2
NTECUK
Member
Mega Poster
 
NTECUK's Avatar
 
Join Date: Apr 2011
Location: essex
Posts: 5,314
Default Re: Wills & solicitors

I did my dad's without.
But then I did bend the ear of a legal bod I know.
__________________
Raisin cookies that look like chocolate chip cookies are the reason I have trust issues.
NTECUK is offline   Reply With Quote
Old 15-02-18, 10:39 AM   #3
maviczap
Member
Mega Poster
 
maviczap's Avatar
 
Join Date: Mar 2007
Posts: 9,096
Default Re: Wills & solicitors

Think my BIL did too
__________________
We're riding out tonight to case the promised land
Make everyday count
RIP Reeder - Jolly Green Giant and comedy genius
maviczap is offline   Reply With Quote
Old 15-02-18, 01:05 PM   #4
NTECUK
Member
Mega Poster
 
NTECUK's Avatar
 
Join Date: Apr 2011
Location: essex
Posts: 5,314
Default Re: Wills & solicitors

Once you get probate you don't need POA.
There's a guide some where what you do.
We used a 6 month to ensure no one popped out of the woodwork as a beneficiary.
You only have a year grace before the tax man want's the interest on anything.
__________________
Raisin cookies that look like chocolate chip cookies are the reason I have trust issues.
NTECUK is offline   Reply With Quote
Old 15-02-18, 01:08 PM   #5
maviczap
Member
Mega Poster
 
maviczap's Avatar
 
Join Date: Mar 2007
Posts: 9,096
Default Re: Wills & solicitors

__________________
We're riding out tonight to case the promised land
Make everyday count
RIP Reeder - Jolly Green Giant and comedy genius
maviczap is offline   Reply With Quote
Old 15-02-18, 02:51 PM   #6
johnnyrod
Member
Mega Poster
 
johnnyrod's Avatar
 
Join Date: Jul 2003
Location: Doncaster, oop norf
Posts: 2,122
Default Re: Wills & solicitors

Power of attorney ceases with the person, so while you have to send this with the probate form, it has no leverage now. You don't need a solicitor. Once you have the probate authorization the you might want to post a Section 27 notice in the Gazette but otherwise you are free to approach the bank to release the accounts. Keep good records though! I am going through all this at the moment too, the oath swearing is literally a few minutes. You shold be able to get away with doing the simple tax form by the sounds of it, rather than the full one.
johnnyrod is offline   Reply With Quote
Old 15-02-18, 03:28 PM   #7
maviczap
Member
Mega Poster
 
maviczap's Avatar
 
Join Date: Mar 2007
Posts: 9,096
Default Re: Wills & solicitors

Thanks Johnny that's also helpful to know.

I've done the IHT205 which goes with the probate PA1
__________________
We're riding out tonight to case the promised land
Make everyday count
RIP Reeder - Jolly Green Giant and comedy genius
maviczap is offline   Reply With Quote
Old 15-02-18, 05:30 PM   #8
johnnyrod
Member
Mega Poster
 
johnnyrod's Avatar
 
Join Date: Jul 2003
Location: Doncaster, oop norf
Posts: 2,122
Default Re: Wills & solicitors

Yep that's right. I had to submit IHT400 and a bunch of others but it all came back in less than a month, it was all clear cut despite the may forms in our case. The solicitor where I swore the oath said it would be a week or so after that to get the grant of representation.
johnnyrod is offline   Reply With Quote
Old 15-02-18, 08:43 PM   #9
Bibio
Member
Mega Poster
 
Bibio's Avatar
 
Join Date: Jul 2008
Location: here as devil's advocate
Posts: 11,539
Default Re: Wills & solicitors

law is different in scotland so might vary down south.

is your mu still alive?
is your mum in a home?

POA only applies if said person is still alive, if your mum is in a home its a sure bet that they will have applied to become POA.

if your mum is deceased then i would reccomend that you seek a solicitor/lawyer to deal with the remaining estate. it dont cost as much as you think. my bill after 2 years was only about £400 and that included a house. the bloody estste agents were the robbing barstewards which cost £1000's

if there is no house and its only lifting funds from a back account then best seek a lawyer who will do all the hard work and also settle any outstanding debts etc.etc. banks are funny blighters and if its not done by the book they will make your life dificult.

as far as i'm aware you can only have one executor to the estate.

unless your mums estate is more than £325,000 there is no capital gains or inheritance tax. after £325,000 you pay 40p on every £.

my advice is get a lawyer. yes it costs money but its done right.

Last edited by Bibio; 15-02-18 at 08:44 PM.
Bibio is offline   Reply With Quote
Old 15-02-18, 08:53 PM   #10
maviczap
Member
Mega Poster
 
maviczap's Avatar
 
Join Date: Mar 2007
Posts: 9,096
Default Re: Wills & solicitors

Quote:
Originally Posted by Bibio View Post
law is different in scotland so might vary down south.

is your mu still alive?
is your mum in a home?

POA only applies if said person is still alive, if your mum is in a home its a sure bet that they will have applied to become POA.

if your mum is deceased then i would reccomend that you seek a solicitor/lawyer to deal with the remaining estate. it dont cost as much as you think. my bill after 2 years was only about £400 and that included a house. the bloody estste agents were the robbing barstewards which cost £1000's

if there is no house and its only lifting funds from a back account then best seek a lawyer who will do all the hard work and also settle any outstanding debts etc.etc. banks are funny blighters and if its not done by the book they will make your life dificult.

as far as i'm aware you can only have one executor to the estate.

unless your mums estate is more than £325,000 there is no capital gains or inheritance tax. after £325,000 you pay 40p on every £.

my advice is get a lawyer. yes it costs money but its done right.
No passed away in December, I had POA

In the UK you can have 2 executors, we we written into the Will

No debts

Under the IHT threshold

I'll ask at my local solicitors what their rate is, and at the company where my mum had her will drawn up.

Aside from getting the grant of probate done, there isn't much else to do, but if it's only a couple of hundred quid, then it might be money well spent.

Thanks for the advice guys
__________________
We're riding out tonight to case the promised land
Make everyday count
RIP Reeder - Jolly Green Giant and comedy genius
maviczap is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Any solicitors on here? SUPERSTARDJ01 Idle Banter 16 10-02-14 04:22 PM
Living wills Ed Idle Banter 7 03-10-11 04:17 PM
Where's my invite Wills? The Idle Biker Idle Banter 17 21-02-11 05:45 PM
Jack Wills - anyone shop there? ooger Idle Banter 0 26-09-09 08:34 PM
Incompetent solicitors timwilky Idle Banter 10 10-08-07 08:59 PM


All times are GMT. The time now is 11:56 PM.


Powered by vBulletin® - Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.