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  • FIRST POST
    • Mtaitlyado
    • By Mtaitlyado 10th Mar 17, 8:07 PM
    • 7Posts
    • 0Thanks
    Mtaitlyado
    Net Value of estate
    • #1
    • 10th Mar 17, 8:07 PM
    Net Value of estate 10th Mar 17 at 8:07 PM
    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.
Page 1
    • Yorkshireman99
    • By Yorkshireman99 10th Mar 17, 10:33 PM
    • 2,667 Posts
    • 2,105 Thanks
    Yorkshireman99
    • #2
    • 10th Mar 17, 10:33 PM
    • #2
    • 10th Mar 17, 10:33 PM
    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.
    Originally posted by Mtaitlyado
    What does the will say? I assume you have bought a copy.
    • Mtaitlyado
    • By Mtaitlyado 10th Mar 17, 10:50 PM
    • 7 Posts
    • 0 Thanks
    Mtaitlyado
    • #3
    • 10th Mar 17, 10:50 PM
    • #3
    • 10th Mar 17, 10:50 PM
    Thanks... It says the property is divided 50/50 between me and the executor,
    and the executor is the beneficiary of the residue.
    • micky2phones
    • By micky2phones 10th Mar 17, 11:07 PM
    • 290 Posts
    • 233 Thanks
    micky2phones
    • #4
    • 10th Mar 17, 11:07 PM
    • #4
    • 10th Mar 17, 11:07 PM
    Thanks... It says the property is divided 50/50 between me and the executor,
    and the executor is the beneficiary of the residue.
    Originally posted by Mtaitlyado
    Hi, is it half the 260,000 minus 30,000 ?

    Leaves 110,000 plus their costs ?
    • Mtaitlyado
    • By Mtaitlyado 10th Mar 17, 11:13 PM
    • 7 Posts
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    Mtaitlyado
    • #5
    • 10th Mar 17, 11:13 PM
    • #5
    • 10th Mar 17, 11:13 PM
    Yes, half 260... minus mortgage
    So I thought net value would be 230 (minus the estate agent fees etc)
    • maximumgardener
    • By maximumgardener 11th Mar 17, 2:01 AM
    • 241 Posts
    • 99 Thanks
    maximumgardener
    • #6
    • 11th Mar 17, 2:01 AM
    • #6
    • 11th Mar 17, 2:01 AM
    mmmm.....260 - 30 = 230 nett , then divide by 2 = 115 each less admin costs
    • Yorkshireman99
    • By Yorkshireman99 11th Mar 17, 3:38 AM
    • 2,667 Posts
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    Yorkshireman99
    • #7
    • 11th Mar 17, 3:38 AM
    • #7
    • 11th Mar 17, 3:38 AM
    Have you looked at your dad's will? Was probate granted on it?
    • getmore4less
    • By getmore4less 11th Mar 17, 7:02 AM
    • 29,175 Posts
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    getmore4less
    • #8
    • 11th Mar 17, 7:02 AM
    • #8
    • 11th Mar 17, 7:02 AM
    is the executor just an executor/beneficiary or is there missing information?
    • da_rule
    • By da_rule 11th Mar 17, 9:24 AM
    • 2,407 Posts
    • 2,151 Thanks
    da_rule
    • #9
    • 11th Mar 17, 9:24 AM
    • #9
    • 11th Mar 17, 9:24 AM
    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
    • By Mtaitlyado 11th Mar 17, 10:31 AM
    • 7 Posts
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    Mtaitlyado
    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
    • By poppystar 11th Mar 17, 11:52 AM
    • 145 Posts
    • 330 Thanks
    poppystar
    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
    • Yorkshireman99
    • By Yorkshireman99 11th Mar 17, 1:24 PM
    • 2,667 Posts
    • 2,105 Thanks
    Yorkshireman99
    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).
    Originally posted by Mtaitlyado
    So why no probate? Does the will still exist? Have you told the solicitor handling probate of your mother's estate? It could be that they have been misled.
    • Mtaitlyado
    • By Mtaitlyado 11th Mar 17, 4:11 PM
    • 7 Posts
    • 0 Thanks
    Mtaitlyado
    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
    Originally posted by poppystar
    estranged from my brother I guess.. since he became an executor and hasn't contacted me since haha! No, not from my family at all - she could have done I suppose but I would be very surprised.

    So why no probate? Does the will still exist? Have you told the solicitor handling probate of your mother's estate? It could be that they have been misled.
    Originally posted by Yorkshireman99
    I'm not sure. I will try the solicitor again (not returned my call so far), thanks. My dad's will was 50/50 split , my brother (executor) and me so I need to verify if this has been revoked? and if not why no probate? Thanks for now.
    Great site and hope I can be of some help to someone else in the future.
    • getmore4less
    • By getmore4less 11th Mar 17, 5:08 PM
    • 29,175 Posts
    • 17,456 Thanks
    getmore4less
    estranged from my brother I guess.. since he became an executor and hasn't contacted me since haha! No, not from my family at all - she could have done I suppose but I would be very surprised.


    I'm not sure. I will try the solicitor again (not returned my call so far), thanks. My dad's will was 50/50 split , my brother (executor) and me so I need to verify if this has been revoked? and if not why no probate? Thanks for now.
    Great site and hope I can be of some help to someone else in the future.
    Originally posted by Mtaitlyado
    so your mum only had 1/2 the house.

    sounds like nothing was done at the time of dds death
    The value may have been without the mortgage.

    probably OK but the issue might be the actual part dad left was not 50% of the house if there was a mortgage at the time, if mum took on the mortgage she should own that bit of the property from that time.
    Last edited by getmore4less; 11-03-2017 at 5:12 PM.
    • Tuesday Tenor
    • By Tuesday Tenor 13th Mar 17, 11:19 AM
    • 970 Posts
    • 1,282 Thanks
    Tuesday Tenor
    estranged from my brother I guess.. since he became an executor and hasn't contacted me since haha! No, not from my family at all - she could have done I suppose but I would be very surprised.


    I'm not sure. I will try the solicitor again (not returned my call so far), thanks. My dad's will was 50/50 split , my brother (executor) and me so I need to verify if this has been revoked? and if not why no probate? Thanks for now.
    Great site and hope I can be of some help to someone else in the future.
    Originally posted by Mtaitlyado
    You've confused me here. In OP you said you thought all went to Mum?
    • Mtaitlyado
    • By Mtaitlyado 13th Mar 17, 12:46 PM
    • 7 Posts
    • 0 Thanks
    Mtaitlyado
    so your mum only had 1/2 the house.

    sounds like nothing was done at the time of dds death
    The value may have been without the mortgage.

    probably OK but the issue might be the actual part dad left was not 50% of the house if there was a mortgage at the time, if mum took on the mortgage she should own that bit of the property from that time.
    Originally posted by getmore4less

    So, the solicitor gave me thirty seconds of his valuble time this morning and after saying he had never received any of messages asking him to phone me? advised my dad’s will left 50/50 split (my brother and me and didn’t/doesn’t need to go to probate.


    So that may explain why the ‘net value, of mum’s will ‘does not exceed £110,00”… half the value of the property if it’s been valued at 260k for example - divide by 2 minus mortgage £30k leaving £100k.
    Would this make sense? I don’t quite understand why my dad’s will doesn’t need probate.



    You've confused me here. In OP you said you thought all went to Mum?
    Originally posted by Tuesday Tenor
    Yes, sorry… when I said in OP that dad left everything to mum as far as I know, I meant his savings (couple of thousand) and pension.
    • getmore4less
    • By getmore4less 13th Mar 17, 2:02 PM
    • 29,175 Posts
    • 17,456 Thanks
    getmore4less
    probate is not needed when there is more than one owner.

    dads share probably went into a life interest trust(did mum have right to live there)
    probate not needed for dad as mum still owed part.
    • Mtaitlyado
    • By Mtaitlyado 13th Mar 17, 2:18 PM
    • 7 Posts
    • 0 Thanks
    Mtaitlyado
    probate is not needed when there is more than one owner.

    dads share probably went into a life interest trust(did mum have right to live there)
    probate not needed for dad as mum still owed part.
    Originally posted by getmore4less
    Thank you getmore4less - yes, mum did have the right to live there.
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