Net Value of estate

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Mtaitlyado
Mtaitlyado Posts: 7 Forumite
in Deaths, funerals & probate
My mums probate shows "net value does not exceed £110,000"
Executor won't give details at this time.
Her house is worth in the region of £260,000, she had few if any debts apart from a mortgage, £30,000, so I can't understand the big difference.
My late dad was a tenant in common and the house is still recorded to be in both their names.
He had a will and left everything to my mum as far as I know.

First time poster!... and very grateful for any help.
Thank you.
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  • Yorkshireman99
    Yorkshireman99 Posts: 5,470 Forumite
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    Mtaitlyado wrote: »
    My mums probate shows "net value does not exceed £110,000"
    Executor won't give details at this time.
    Her house is worth in the region of £260,000, she had few if any debts apart from a mortgage, £30,000, so I can't understand the big difference.
    My late dad was a tenant in common and the house is still recorded to be in both their names.
    He had a will and left everything to my mum as far as I know.

    First time poster!... and very grateful for any help.
    Thank you.
    What does the will say? I assume you have bought a copy.
  • Mtaitlyado
    Mtaitlyado Posts: 7 Forumite
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    Thanks... It says the property is divided 50/50 between me and the executor,
    and the executor is the beneficiary of the residue.
  • micky2phones
    micky2phones Posts: 485 Forumite
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    Mtaitlyado wrote: »
    Thanks... It says the property is divided 50/50 between me and the executor,
    and the executor is the beneficiary of the residue.

    Hi, is it half the 260,000 minus 30,000 ?

    Leaves 110,000 plus their costs ?
  • Mtaitlyado
    Mtaitlyado Posts: 7 Forumite
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    Yes, half 260... minus mortgage
    So I thought net value would be 230 (minus the estate agent fees etc)
  • maximumgardener
    maximumgardener Posts: 299 Forumite
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    mmmm.....260 - 30 = 230 nett , then divide by 2 = 115 each less admin costs
  • Yorkshireman99
    Yorkshireman99 Posts: 5,470 Forumite
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    Have you looked at your dad's will? Was probate granted on it?
  • getmore4less
    getmore4less Posts: 46,882 Forumite
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    is the executor just an executor/beneficiary or is there missing information?
  • da_rule
    da_rule Posts: 3,618 Forumite
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    Is the executor a solicitor etc? As it appears that they haven't realised that the estate includes the entire house (even if the records at the Land Registry haven't been changed). Also, other than the house, the calculation seems to suggest (assuming the executor has worked off 50% of the house value - the mortgage) that your mum had no other assets? No money in the bank, no car, no insurance policies etc.

    Checking your dads will will also be helpful as it will show whether he left the house to your mum or not.
  • Mtaitlyado
    Mtaitlyado Posts: 7 Forumite
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    Thank for suggestions.

    No probate on dad's will so can't check.

    The executor/other beneficiary is my brother, (he's employed a solicitor).
  • poppystar
    poppystar Posts: 1,302 Forumite
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    I get the sense you might be a little estranged from your family - is it possible that your mother has already gifted half the house to your brother either when your father died or since? That might explain the discrepancy
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