Solicitors

gratefulforhelp_2

Good luck with this ebeneezer. There is a helpline number on the form in case you get stuck. DH reckoned it saved about £700.

Ebenezerscrooge

SmlSave wrote: »

You still need to do about 5 years of studying to qualify And you should see the amount of work that's normally involved with Probate files - I am actually unable to pick them up myself!

So I'm right in thinking that the other IHT400 form wont be necessary, given that his only asset was the house, which was valued last month at £300,000 (we can ignore the joint bank account held with is wife, who is still alive)?

My main 'gripe' is that the solicitor didn't mention the fact that the process is quite simple and inexpensive. I was at the meeting with my mother-in-law and my wife (both executors of the will) and the solicitor bamboozled them with jargon for half an hour. He seemed to be quite disappointed that the only asset is the house (my father-in-law had been very ill for some time, so we had taken steps to simplify matters well in advance of his death), and yet he still made out that the procedure is very complex).

He stated at the end of the interview that grant of probate normally costs @ £1,500 + VAT. At £185 per hour, I just can't see where he can find 8 hours work in the instance. Or am I missing something?

SmlSave

I think that just the IHT205 should be fine as its a simple estate.

He stated at the end of the interview that grant of probate normally costs @ £1,500 + VAT

We quoted a lady £750 plus VAT and disbursements the other day to get Probate. Two bank accounts and a house to deal with.

gratefulforhelp_2

Ebenezerscrooge wrote: »

My main 'gripe' is that the solicitor didn't mention the fact that the process is quite simple and inexpensive.

He wouldn't would he?;)

Ebenezerscrooge

SmlSave wrote: »

I think that just the IHT205 should be fine as its a simple estate.



We quoted a lady £750 plus VAT and disbursements the other day to get Probate. Two bank accounts and a house to deal with.

The fact that there is a tenancy in common shouldn't complicate matters, should it? I mean, is it as simple as lodging the will and death certificate withe title deeds, as others have suggested?

SmlSave

If Mum and Dad held as tenants in common then I'm pretty sure that Dad's share will have to be transferred into the names of the beneficiaries - I would definitely give the Land Registry a call to ask them. They don't charge for advice.

Rach39

If house held as 'tenants in common' that share will have to be formally transferred to the beneficiary under the will - that may well be his wife but it is not the same as them owning jointly and he may have bequested his share to someone else - check the will. Also make sure that half the value of the house is included on your IHT205 as an asset as this is necessary.

Rach39

Sorry just re-read original post - I see his share goes to daughters. Definitely needs to be declared as an asset and you need to declare the value of joint accounts too although these would not count in terms of IHT. Moving forward if daughters own half the house and mum has right of residency (and her own half) it may be worth drawing up a license for her to reside in 'their half' just in case either of them become insolvent or embroiled in matrimonial problems since their share of house will be seen as one of their assets... maybe you'd be safer not completely writing off solicitors just yet!!!