Probate question
Discussion
A friend has inherited an estate worth a considerable amount from a single uncle who never married , there is quite a large amount of tax to be paid , within the estate there is an amount that was loaned out to an ex partner , the ex partner is claiming the debt was setlled (with no evidence of this ) the debt amount has been added into the estate and seems to be unrecoverable but tax has been applied to this sum at an amount of £19k , surely this is incorrect ?
I would think there would need to be a bit more proof than ‘Yes I paid it back’ to remove the debt from the estate.
Then after that if the debt wasn’t proved to have been paid off it would take further legal steps to make it unrecoverable.
The tax man isn’t going to take anybody’s word that either of the processes above haven’t been followed to their conclusion.
Mr Whippy said:
Has probate been granted?
Who did the work on it? Solicitor? DIY? DIY with professional advice?
Not yet , solicitor dealing is hopeless , the deceased has been gone over a year and it looks like he has only just passed it over to probate people , apart from dying intestate , the estate consists of a property ( mortgage free) cash and a large lump in ns and i , he had loaned an ex a lump sum which is the issue , the ex didn’t respond to solicitor requests for info just that the loan had been settled partly in cash which is bs as there was no cash in the house or deposited in his accounts.Who did the work on it? Solicitor? DIY? DIY with professional advice?
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