Help with Probate wording please?

Careful_ly

We have recently received a copy of probate for someone who died intestate which reads

"It is hereby certified that it appears from information supplied on the application for this grant that the gross value of the said estate in the UK does not exceed £263,000 and the net value of such estate does not exceed £53,000"

Can you please clarify this? I assume that the £263k figure is re inheritance level, but the lower figure £53k does this mean the person had an estate of circa £53k or is it a standard amount, and has no relation to amount left
i e they could have had a £1000 and that clearly would be under £53k

Sorry if in wrong place, had no idea where to ask this..

Rebecca22

Sorry, I can't help you on what the £53,000 is but £263,000 is this year's inheritance tax threshold, so I would assume that, as you suggest in your post, the £53,000 is a set amount that won't change whether the amount is £1,000 or £52,000.

seroxat_chick

Hi,

Just posed your query to hubby who is a Probate Manager.

£53000 is not a standard amount.

The net value of assets in the name of the deceased is rounded up to the nearest £1000.
Therefore, the estate would be somewhere between £52001 and £52999


Hope that's of some use to you,

seroxat_chick