Probate - new proportional fee structure.

[chas49]

It is stunningly difficult to do as Lootman suggests and manage your estate to avoid probate. As near as I can tell, if you have ANYTHING in your sole name, ie an ISA, and can support yourself, then probate will be required.

But at least moving money around during your lifetime, and putting it into the appropriate arrangements with your spouse so it transfers by survivorship and not requiring probate will reduce the size of the problem (and the fee/tax?)

Do it as soon as possible, you might fail to miss the bus.

Definitely!

[Maylix]

It's probably considered as "money for nothing" for the very good reason that it is money for nothing.

In the vast majority of cases the beneficiaries of an estate have done nothing to `earn' the inheritance, and it's just like a lottery win, the main difference being that they didn't even have to buy a ticket.

So, the children who are left something in their parents will....... in your eyes a lifetime relationship with their parents is worth..... nothing???

I beg to differ, most beneficiaries of an estate have/had a relationship with the person who passed, and through that relationship have 'earned' the inheritance.

Maylix

[Clitheroekid]

So, the children who are left something in their parents will....... in your eyes a lifetime relationship with their parents is worth..... nothing???

My apologies, I hadn't considered the value of that relationship in cash terms.

I beg to differ, most beneficiaries of an estate have/had a relationship with the person who passed, and through that relationship have 'earned' the inheritance.

We obviously see things rather differently. I don't see how having had a relationship with someone automatically entitles you to a cash payment when they snuff it.

[melonfool]

So, the children who are left something in their parents will....... in your eyes a lifetime relationship with their parents is worth..... nothing???

My apologies, I hadn't considered the value of that relationship in cash terms.

If you'd met my parents you would definitely think I deserved it - plus a medal. They should at least be paying for my therapy!

But, no, it is a very strange concept, it's like suggesting people are 'buying' their children. Does that mean all those families with nothing to leave have only worthless relationships with their offspring?

And, anyway, if there is something to leave, it's not 'nothing', is it? It's the something, minus the tax and minus the probate fee, both of which are proportional - so there is still 'something'.

Mel

[Maylix]

So, the children who are left something in their parents will....... in your eyes a lifetime relationship with their parents is worth..... nothing???

My apologies, I hadn't considered the value of that relationship in cash terms.

I beg to differ, most beneficiaries of an estate have/had a relationship with the person who passed, and through that relationship have 'earned' the inheritance.

We obviously see things rather differently. I don't see how having had a relationship with someone automatically entitles you to a cash payment when they snuff it.

Re the first point, No worries, apologies accepted. It's just a different way of measuring something. Glad you agree it's not 'nothing'

Re the second point, I didn't say anything about any "automatic entitlement when people 'snuff it'", so please don't ascribe such a concept to me. Use of a straw man and emotive language don't do your argument any favours. I was merely reacting to your rather cavalier comparison of the situation to the purchase of a lottery ticket; I was pointing out that e.g. a lifelong, loving, dutiful, relationship involves a lot, lot more. It's up to the deceased if they want to pass something on which reflects that relationship. Most of the times they do, and most of the times the recipient isn't waiting with baited breath for the passing so they can 'cash in' . Maybe your view has been somewhat jaundiced by having to deal professionally with those situations where that's not the case?

Peace out.
Maylix

[chas49]

Moderator Message:
In my view, this topic has gone quite a long way off-topic for this board - Legal Issues (Practical). The topic is now closed. (chas49)