I'm jealous of people who get inheritances

[Barnabee]

Yeah I know you'll all pile on telling me I should expect nothing. But some people have lovely families who want to pass something forwards to help their children. I'll never have that.

This is dreadful. Wouldn’t you have been able to apply for funeral expenses payment if hard up? There is also bereavement support payment to a spouse if someone dies below state pension age. Hardly matters now but a lot of people don’t know help is available. Sorry you went through such a hard time.

Funeral help is only available when no one else in the family can pay. So you can still be left with the bill whilst on minimum wage when your better off siblings skip away.

@ssd just read that, how incredibly unfair on you. I hope you are able to put it behind you in time. Losing your Mum is something you never get over, particularly when others make it harder, but it does get easier to bear 💐

That is usually the time given to vacate where no rent is charged. The councils I worked for had no issue after a death if the family wished to pay the rent for a little longer before handing the keys back.

Yes, i was told i could pay another months rent and council tax and i could have another month to clear mums flat. But who could afford that, on top of paying all the funeral expenses?

I know we'd all like to keep the relative.
But people die regardless and an inheritance doesn't change that, so its not wrong to wish you had that benefit.
I'd be glad to think any inheritance would help my dc's out when I pop off.

My friend could afford it and was told she couldn’t do it. Two weeks and no debate. It was utterly heartless.

So sad hearing that all of these families have had negative experiences with social housing and essentially having families kicked out post death. Especially with right to buy and the massive discount on market price available to tenants. Someone I know did this and now lives in a house worth 300k specifically due to 25% discount when buying council house and then the profit they made when selling, plus gains on current property.

Wish more people were supported to get themselves into a position to avail of the opportunity, people shouldn’t have to go through that crap you would have more rights private rental and getting housing benefit or UC whatever it is these days.

Actually this is a good point for OP, being a care leaver who may be socially housed or anyone really in a public sector housing.

If you are in a council house more than 3yrs you are entitled to buy at a discount of 35% for houses 50% for flats, beyond 5yrs the percentage discount increases further up to a max of £87,200.00 to £116,200.00 (London), a heck of a hand up and comparable to inheritance. If you stay in the council house you’ve bought a further five years any additional profit is also yours to keep.

www.gov.uk/right-to-buy-buying-your-council-home/discounts

So sad hearing that all of these families have had negative experiences with social housing and essentially having families kicked out post death

Yes. I was an adult when my remaining parent died... however I was still young and had recently left uni and just started working so like a lot of young people still lived at home. Thank god, my dad owned our house. In a way I suppose I was kicked out...or forced to leave. We owed inheritance tax. My dad hadn't left any actual money...just the house so we had to sell up to be able to pay it. Obviously, I was fortunate I was left it and could buy myself somewhere else but whether you privately own or rent, surely some consideration should be made if other people live there. The estate agent came round the day after my dad died.

Sounds like the house was worth over £500k? As you say, you were quite fortunate, and death and taxes are inevitable (so the saying goes).

@phishy not necessarily over 500k. Personal allowance for inheritance tax purposes is 325k, 10yrs ago you’re talking 230k, and other assets such as car, furniture, art, jewellery also included in calculation. Depends when the property inherited.

www.gov.uk/government/publications/rates-and-allowances-inheritance-tax-thresholds-and-interest-rates/inheritance-tax-thresholds-and-interest-rates

Inheritance tax is largely avoidable having both parents on the deeds, however there are still frequent instances where the husband alone is on the deeds (I know 😱), which can catch people out.

I had a tiny inheritance I received at 18. Tiny. Not enough to buy a car. My mum died for that when I was 8.

I'd give every penny I have right now to have her back.

I do understand where you are coming from but please don't be jealous.

Inheritance tax is largely avoidable having both parents on the deeds, however there are still frequent instances where the husband alone is on the deeds (I know 😱), which can catch people out.

That makes no difference. As long as the property is left to the surviving spouse there’s no tax to pay, regardless of whether their name’s on the registration. It’s the marriage that’s important.

Example I’m talking about wife pre-deceased husband and had no ownership of house. Therefore her share of property didn’t pass to him as she didn’t have a share. Family hit for 40% tax when he died due to this.

That’s still not how it works now.

@Weirdlynormal any link outlining, be interested to read as this was quite recently.

@Weirdlynormal @Blossomtoes Sorry completely my mistake checked and the several examples I was thinking of are 15yrs ago now eeek, not 5-10 as thought… clearly my concept of time is rubbish! Guess they just missed out benefitting from the law change.

Few links for anyone equally confused

For deaths occurring on or after 9th October 2007, spouses and civil partners can now transfer their Nil Rate Band (NRB) so that any part of the NRB that was not used when the first spouse or civil partner died can be transferred to the individual's surviving spouse or civil partner for use on their death.

www.gov.uk/guidance/inheritance-tax-transfer-of-threshold

moneytothemasses.com/tax/inheritance-tax/do-i-have-to-pay-inheritance-tax-on-my-parents-house/amp