IHT205 Question 9.2 joint assets

Steves_2

Hi,

My father died and I'm filling in the form for my mum. I'm just wondering about question 9.2 in the form:

9.2 Deceased’s share of joint assets passing automatically to the surviving joint owner. For example, a house owned as joint tenants. Describe the asset and give its whole value in the box below and say what share the deceased owned. If it is a house, give the address. Put the value of the deceased’s share in box 9.2

I presume I have to include:

1. Half the money in their joint bank accounts?
2. Half the value of the furniture and household goods?
(the house was in my fathers name so is not a joint asset)

Re furniture and household goods - do I have to go through everything - eg the 2nd hand value of the microwave and washing machine, sofas, beds and sideboards etc?

Savvy_Sue

Just make a guesstimate for the fittings and furnishings, and base it on what you'd get if you were clearing the house ready for sale. In other words, not a very high second hand value, unless your parents went in for antique furniture.

That's the advice we were given. I think we put £1000 for the contents of a LARGE house. Could have been less.