Tenants in Common and Inheritance Tax

[ocraz49]

My mother has just passed away and I have no idea how to find a copy of her and my father's Tenants in Common agreement. Can anyone help? Could it be at a solicitors?
Also can anyone explain whether the 650,000 free allowance is applicable to my sister and I?

[MissFM]

Re: Tenants in Common and Inheritance Tax

Where did you get 650K free allowance from (if you mean IT)? I think it's half that (but stand to be corrected). Someone will be along shortly who knows!

[Sapphire]

Re: Tenants in Common and Inheritance Tax

Hi, I'm so sorry to hear your sad news, please accept my condolences. Did your mum leave a will ? If so then you may find all you need with her solicitor or the will writing firm that did it for her.

Have a read of this guide https://www.gov.uk/wills-probate-inheritance it may help with inheritance tax and so on.

Its £325,000 Miss FM.

[MissFM]

Re: Tenants in Common and Inheritance Tax

Thanks Sapphy and Ocraz49 I am also so sorry for your loss - most particularly sorry that my last post appeared heartless. Please accept my unreserved apologies.

Sapphy has given you good advice.

[ocraz49]

Re: Tenants in Common and Inheritance Tax

Thank you for your condolences. I have the will to hand and it does not even mention anything about the Tenants in Common agreement. Perhaps I have the wrong idea, I thought that my dad would be classed as not using his tax allowance of 325,000 which would pass down the line.
Could I have the cheek to ask one more question? Mum made my older sister and my cousin executors of the will, which leaves in equal parts the residue of estate to my sister and I. As soon as mum passed, she changed the locks on the door and the alarm number and told me I couldn't enter, and wouldn't allow me a set of keys. Is this legal. Also when I was allowed inside, accompanied by my cousin, all valuable items had been removed from the property and she refuses to account for them. What is the procedure where this is concerned. Sorry, I know that was more than one question extra and I apologise. I feel alone in all of this and it is so, so stressful. Hope you can advise.x

[ocraz49]

Re: Tenants in Common and Inheritance Tax

No problem, the reason I was questioning was because I am lost when it comes to Tenants in Common, Wills, and Inheritance Tax.