Inheritance in England?
143933
Probably. So much of England is stubbornly following those outmoded, old-fashioned rules.
1014096
It depends on where you live . Here in the United States the law states that there are class inheritors , first class being husband wife , second class being children brother sister mother farther , third class being anyone else . You can leave your worldly goods to anyone you choose , but the first and second class inheritors have a right to make a claim against the estate and if they challenge the will in court they can get a portion . There is also the issue of Taxes First Class  inheritors pay no taxes on an eastate valued up to a certain amount , second class inheritors pay no tax on an estate valued up to 300 thousand dollars , third class inheritors and this is where it gets tricky , if you are a third class inheritor cousin nephew or nice you pay taxes but the amount is extremely lower than a non blood relation . If he has a will and leaves everything to his partner he can loose part of the estate to the relatives and he will have to pay heavy taxes on what they don't get , the taxes could be up to 30 % from the first dollar amount . The way to avoid this is to have a living trust and the entire estate is put into the trust and each one of them is on the trust as a trustee and can put in or take out anthing in the trust anytime , when one or the other dies the trust will pass directly to the suvivor . A will is still necessary in order to secure the wishes of the deceased . They can also adopt each other .
479237
after a certain amount of time, they wont go after you, but if you owe and receive the inheritance say tomorrow, it will all depend on how the will is structured. If there is no will and it is a straight next of kin arrangement, they sure can go after that money. Not only that, but any unpaid debts of the benefactor can be deducted from the amount of the inheritance.
871524
I would suggest that you go into the house and get any papers that you might need.  You are not entering illegally as you have a key and your uncle doesn't want his son to deal with it.  You will have to let the solicitor know.  I've been in a similar position and in the end i decided i loved my grandad more than my aunt  so i was going to do what he wanted and not worry about upsetting my aunt and going against her and my mothers wishes. I am happy that I did.
436686
There is administrative work that needs to be done, and it would be easier to name one person than several.\n\nThis does not mean you are not getting an inheritance; just that you are not burdened with doing the administrative paperwork.\n\nIf this is really important to you, ask your sister if you can help with the paperwork.\n\nPerhaps your father, in his wisdom, saw some quality in your sister that made her seem preferable for this task.  It doesn't mean he loved you any less.\n\nDon't consider this unfair.  Instead, think about the good qualities of your father, and how you cna live up to them.
276770
Be careful, if you are inheriting a deceased estate there may be some tax implications, depending on the assets in question. Speak to a tax accountant or financial planner for current advice. Better yet, speak to at least 2, that way you get a balanced opinion on the issue. \n\nCheers, L
528090
I LIVE IN CHICAGO, WE ARE GOING THROUGH THIS RIGHT NOW! ON ME AND MY HUSBANDS INHERITANCE, HIS GRANDMOTHER LEFT A WILL TO SPLIT THE MONEY BETWEEN 5 PEOPLE, YOU DON'T WANT IT TO GO TO PROBATE CAUSE IT CAN BE HELD IN COURTS FOR YEARS AND YOU PAY THE LAWYER LOTS OF MONEY! THE LAWYER JUST WANTS TO MAKE MONEY FROM YOU!  THERE ARE ONLINE WEBSITE YOU SHOULD SCAN FOR YOU CITY!  BUT IN CHICAGO PROBATE IS NOTHING WE WOULD WANT TO DO, WE ARE DOING A LIVING TRUST THAT WAY NO ONE CAN CLAIM ANYTHING AND IT WON'T GO TO PROBATE WHICH IS COURT WHERE A JUDGE DECIDES WHO THE PROPERTY SHOULD GO TO AND THE JUDGE WILL MAKE THAT DECISION, WE DON'T WANT THAT, SO CHECK YOU STATE OUT ,GO TO WEBSITES AND GET INFORMATION BEFORE YOU SIGN ANY LEGAL DOCUMENTS,LAWYERS JUST WANT MONEY!!
847980
Depending on how large the estate is, there could be estate taxes (but only if it's in the millions for federal) - if there are, those would be paid by the estate, not you.  There might also be state taxes involved, which again would be paid by the estate.\n\nIf you inherit assets, like stock or property, when you sell them you'd owe capital gains taxes on how much they've appreciated since you inherited them.  You should be given some sort of paperwork to show what the assets were valued at, at the time of death.  That becomes your basis.
889187
I dont know what your  other doing for this matter.\nIf property was earned by ur father then you are also legal heir.\nIf  its a encestor property then also ur legal heir.\nChek ur fathers will if there is any.\nUr grandma also is legal heir.\nI will suggest that u all shuld sit and stay  discuss and try to stay together and united.\nthis will give lot of support to all of you.\nAT your age it is difficult to take decission take help of your mother or any other well wisher.
685846
I believe you have to pay on any inheritance you receive.\n\nHere's a website that explains it and also has external links for more info:  http://www.answers.com/Inheritance%20Tax
736318
Hello\n\nIf she buys a second home then gives it to someone else in your family, or she gives someone else in your family the money to buy a home; and she dies within 7 years, then inheritance tax may be payable.\n\nIf the total value of her estate, which includes all: property, cars, assets, cash, etc... exceeds £263,000; then 40% tax must be paid on the rest.\n\nIf shes gives away a gift (home, cash, etc...) then lives for 7 years then it is safe from inheritace tax.\n\n\nFor example: \nScenario a)\n - she gives you a £150,000 house;\n - she has another home worth £150,000; \n - she has £63,000 in funds in the bank; and\n - she dies in 6 years.\n\nTotal value of estate: £363,000.\nInheritance tax allowance: £263,000.\nTaxable amount after allowance: £100,000.\nTotal inheritance tax payable: £40,000.\n\nScenario b)\n - she gives you a £150,000 house;\n - she has another home worth £150,000;  \n - she has £63,000 in funds in the bank; and\n - she dies in 10 years.\n\nTotal value of estate: £213,000.\nInheritance tax allowance: £263,000.\nTaxable amount after allowance: £0.\nTotal inheritance tax payable: £0.\n\n\nThanks
905983
No, I believe that your father is worrying unnecessarily.  I think that what has happened technically, from what you say, is that you are tenants in common with your father, having been left your mother's share of the property in trust.  It does not make any difference to your father's position, but I do think that you should take legal advice, as you may be faced with a nasty bill for inheritance tax.  The following link will give you a helpline.  It's worth a phone call to check up on this.  Under the present law, if your mother's half of the property is worth less than £275,000 then no tax will be due. When your father dies (which I hope will not be for a long time to come, by which time the law may have been changed), his half may also be below the threshold, so again would miss IHT. \n\n\nhttp://64.233.161.104/search?q=cache:6NomUA1DMqIJ:www.hmrc.gov.uk/cto/glossary.htm+probate+tenants+in+common+inheritance+tax&hl=en&ct=clnk&cd=1
126711
It depends on how much you inherited. There is a special tax form that you'll need to fill out. Go to the IRS website and do a search for the form.
791144
Try this link lots of useful info for UK residents\n\nhttp://probate1.com/#What%20is%20probate?
873438
Assuming that your parents are domiciled and resident in the UK (which you would know if they were not) than all gifts to you will be potentailly excempt transfers.\n\nIf they gift you assets/cash and then survive for 7 years there will be no IHT. The IHT will be reduced on a sliding scale if they survive for between 3 and 7 years. \n\nTransfers to all trusts are now chargeable lifetime transfers (from March 2006) and will give rise to an immediate charge of IHT at half the full death rate. If the donor then dies within 7 years there may be a further charge but as above taper relief may apply. \n\nThere is a yearly annual exception of £3k but this is minor compared to the amounts that you are talking about.\n\nAlso remember that depending on the asset that you are to receive there may be capital gains tax to pay (not on cash, primary residence, cars, wasting chattels and other small exemptions) this can be held over though gift relief. This means that your parents would not pay the tax but when you come to dispose of the asset you would pay capital gain tax on the whole gain starting from when your parents aquired the asset.
229444
You need to find a good attorney, specializing in probate.\nShe may be breaking the law by not bringing the will into view by your father's heirs.  That is, you or anyone else who is direct family.\n\nAmazing how people are.  In your  father's death, you OWN   "blood" would treat you like that.  \n\nOf course I don't know your history with you sister, but in the case of your father passing, you would think differences would be cast aside for a time.\n\nBut, I am learning people are mean, selfish, and love to see others in pain.  And when it comes to money, they are ruthless.  Even those 'civilized ones' of affluent status. \n\nJust look around you and you can count on one finger the people who are happy, and content.
73347
Depends on which country you are in.  In the UK, an executor is bound to carry out the wishes of the deceased.  All expenses and costs may be reclaimed from the estate but no costs to their own benefit may be requested.