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I have a simple? query about using a DoV.
I am one of 2 executors for my Mother's will. My co executor doesn't live in UK and has Power Reserved to apply for probate. But I have updated him regularly on the proceedings and he is content.
I am the main beneficiary and will basically inherit the entire estate.
7 charities she supported are minor beneficiaries and will each receive a few £00, some more than £300.
My mother also left a couple of list of wishes which were not part of the will.
One list left some items - pictures, a couple of clocks, Army regimental items and jewellery to named people. The values of some items will exceed £300, but not £3000.
The second list left cash gifts of a few £00, but more than £300, to 4 village friends who had really supported her and helped her out over the years.
A third verbal instruction to me earlier this year was to give her car, an elderly Polo, to the village garage owner.
A relative recently asked for a particular picture in her house.
I am very happy to honour all the bequests, the 2 lists, the car verbal instruction and the picture request.
I or the charity beneficiaries won't be disadvantaged at all. Liability for current IHT won't be affected either.
So, having read the HMRC document IoV, it seems it is very simple for me to write a simple letter with all the "extras" into a DoV and attach it, and the HMRC form, to the will.
I also want to make a sizeable donation to a sporting body once a house is sold. I am not sure if it has charity status, so I am concerned that if I depart before the 7 years is up, the sports body will be liable to IHT.
So, I thought I could also add it to the DoV??
Grateful for any comments??
I am one of 2 executors for my Mother's will. My co executor doesn't live in UK and has Power Reserved to apply for probate. But I have updated him regularly on the proceedings and he is content.
I am the main beneficiary and will basically inherit the entire estate.
7 charities she supported are minor beneficiaries and will each receive a few £00, some more than £300.
My mother also left a couple of list of wishes which were not part of the will.
One list left some items - pictures, a couple of clocks, Army regimental items and jewellery to named people. The values of some items will exceed £300, but not £3000.
The second list left cash gifts of a few £00, but more than £300, to 4 village friends who had really supported her and helped her out over the years.
A third verbal instruction to me earlier this year was to give her car, an elderly Polo, to the village garage owner.
A relative recently asked for a particular picture in her house.
I am very happy to honour all the bequests, the 2 lists, the car verbal instruction and the picture request.
I or the charity beneficiaries won't be disadvantaged at all. Liability for current IHT won't be affected either.
So, having read the HMRC document IoV, it seems it is very simple for me to write a simple letter with all the "extras" into a DoV and attach it, and the HMRC form, to the will.
I also want to make a sizeable donation to a sporting body once a house is sold. I am not sure if it has charity status, so I am concerned that if I depart before the 7 years is up, the sports body will be liable to IHT.
So, I thought I could also add it to the DoV??
Grateful for any comments??
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