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  • FIRST POST
    • denwyn
    • By denwyn 10th Jun 17, 2:59 PM
    • 147Posts
    • 5Thanks
    denwyn
    Probate diy or solicitor
    • #1
    • 10th Jun 17, 2:59 PM
    Probate diy or solicitor 10th Jun 17 at 2:59 PM
    Re form IHT400 for probate.

    Very unsure as to diy probate for partners mother, have the above firms, seem very complex. If we made any mistakes in filling in themselves,would we have to pay again to re- submit them. I'm inclined to let solicitor handle it. Probate forms for her father who died a couple of years back were much easier. Ore involved now with house and money.
Page 1
    • Yorkshireman99
    • By Yorkshireman99 10th Jun 17, 3:23 PM
    • 2,653 Posts
    • 2,089 Thanks
    Yorkshireman99
    • #2
    • 10th Jun 17, 3:23 PM
    • #2
    • 10th Jun 17, 3:23 PM
    Re form IHT400 for probate.

    Very unsure as to diy probate for partners mother, have the above firms, seem very complex. If we made any mistakes in filling in themselves,would we have to pay again to re- submit them. I'm inclined to let solicitor handle it. Probate forms for her father who died a couple of years back were much easier. Ore involved now with house and money.
    Originally posted by denwyn
    It is generally thought that the forms are not a problem if you read the notes carefully and don't rush. Perhaps you should consider completing them all and getting a solicitor to check what you have done. That should savea bundle of money.
    • Linton
    • By Linton 10th Jun 17, 3:28 PM
    • 7,976 Posts
    • 7,787 Thanks
    Linton
    • #3
    • 10th Jun 17, 3:28 PM
    • #3
    • 10th Jun 17, 3:28 PM
    If the estate is liable for IHT, and/or involves a house, and/or significant gifts or other complications I suggest you use a solicitor. You need to know what is important and what isn't. The forms look complex but we found from our solicitor that much of it is an opportunity to present information. They arent examinations that will marked on having been filled in correctly.

    Also, a solicitor will help ensure that the data is presented to avoid paying unnecessary tax. In our case help from the solicitor reduced the IHT liability by nearly enough to pay his charges.
    • denwyn
    • By denwyn 10th Jun 17, 4:17 PM
    • 147 Posts
    • 5 Thanks
    denwyn
    • #4
    • 10th Jun 17, 4:17 PM
    • #4
    • 10th Jun 17, 4:17 PM
    If the estate is liable for IHT, and/or involves a house, and/or significant gifts or other complications I suggest you use a solicitor. You need to know what is important and what isn't. The forms look complex but we found from our solicitor that much of it is an opportunity to present information. They arent examinations that will marked on having been filled in correctly.

    Also, a solicitor will help ensure that the data is presented to avoid paying unnecessary tax. In our case help from the solicitor reduced the IHT liability by nearly enough to pay his charges.
    Originally posted by Linton
    Thank for that, there is including the house, bank accounts and isa's ia lot of money involved, probably just over inheritance tax allowance, I am at a loss when it comes to income tax etc. So I think your right in letting a solicitor handle it,for peace of mind as well.
    • Yorkshireman99
    • By Yorkshireman99 10th Jun 17, 4:24 PM
    • 2,653 Posts
    • 2,089 Thanks
    Yorkshireman99
    • #5
    • 10th Jun 17, 4:24 PM
    • #5
    • 10th Jun 17, 4:24 PM
    Thank for that, there is including the house, bank accounts and isa's ia lot of money involved, probably just over inheritance tax allowance, I am at a loss when it comes to income tax etc. So I think your right in letting a solicitor handle it,for peace of mind as well.
    Originally posted by denwyn
    Was the deceased a widow? There might be her late husband's allowance as well bringing it below the IHT limit. Getting it all done by a solicitor is going to cost thousands. If you do all the donkey work you can save a lot.
    • getmore4less
    • By getmore4less 10th Jun 17, 7:49 PM
    • 29,169 Posts
    • 17,449 Thanks
    getmore4less
    • #6
    • 10th Jun 17, 7:49 PM
    • #6
    • 10th Jun 17, 7:49 PM
    Chances are it is still a simple estate.

    cash holding shates and houses(with contents) are on the simple side.

    Some trusts, some pensions/annuities and business assets add complexity.

    even if you get solicitors involved you will end up doing a lot of the work as they ask you about the assets anyway.

    work through IHT 205 till it tells you to use IHT 400(series) then work through those.

    With the forms, the notes and the HMRC manual most people can work out what needs doing and can get help for those areas they are still unsure about.
    • denwyn
    • By denwyn 10th Jun 17, 10:48 PM
    • 147 Posts
    • 5 Thanks
    denwyn
    • #7
    • 10th Jun 17, 10:48 PM
    probate
    • #7
    • 10th Jun 17, 10:48 PM
    Yes deceased was a widow, there is will, i do belive her late husbands allowance can be passed over to her. It gets a bit more of a problem in that when her husband was alive they put a holiday home up for sale, the sale was in process when he died, and did go through no problem, with the proceeds of the sale being transferred into his wifes account, apparantly there is capital gains tax to be paid on this, i didnt have anything to do with the financial side and this needs sorting as well. Its all a bit of a jumble and i do think for peace of mind we should let a solicitor sort it now.
    • Yorkshireman99
    • By Yorkshireman99 10th Jun 17, 10:52 PM
    • 2,653 Posts
    • 2,089 Thanks
    Yorkshireman99
    • #8
    • 10th Jun 17, 10:52 PM
    • #8
    • 10th Jun 17, 10:52 PM
    Get a quote for the work. You may well be able to save literally thousands by doing the donkey work yourself.
    • getmore4less
    • By getmore4less 10th Jun 17, 11:14 PM
    • 29,169 Posts
    • 17,449 Thanks
    getmore4less
    • #9
    • 10th Jun 17, 11:14 PM
    • #9
    • 10th Jun 17, 11:14 PM
    Yes deceased was a widow, there is will, i do belive her late husbands allowance can be passed over to her. It gets a bit more of a problem in that when her husband was alive they put a holiday home up for sale, the sale was in process when he died, and did go through no problem, with the proceeds of the sale being transferred into his wifes account, apparantly there is capital gains tax to be paid on this, i didnt have anything to do with the financial side and this needs sorting as well. Its all a bit of a jumble and i do think for peace of mind we should let a solicitor sort it now.
    Originally posted by denwyn
    That will take a bit of sorting out but again should not be too complicated once the facts have been collected.

    Solicitor/accountant will just ask for that info which will be most of the work anyway.

    Ownership of the house and timings will need looking at.

    that should have been sorted as part of the sale and previous estate administration.
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