DIY Probate
Sues48
Forumite 285 Posts
Does anyone have any experience of applying for probate without using a solicitor? How easy was the process and what problems if any did you encounter?
My father passed away last month and myself and brother are the executors of his will, my mother is still alive, and because they changed their wills a couple of years ago to make them tenants in common we have been advised that we need to apply for probate before the house can be transferred into her sole name. The only other asset he had which was in his sole name is a stocks and shares ISA which is valued at approx £6500.
I've had a quick look at the form and it looks fairly straightforward, the solicitor who drew up the will also sent two HMRT forms which are confusing me a little, the value of the house is probably between £160,000 and £180,000, so well below Inheritance tax levels.
My father passed away last month and myself and brother are the executors of his will, my mother is still alive, and because they changed their wills a couple of years ago to make them tenants in common we have been advised that we need to apply for probate before the house can be transferred into her sole name. The only other asset he had which was in his sole name is a stocks and shares ISA which is valued at approx £6500.
I've had a quick look at the form and it looks fairly straightforward, the solicitor who drew up the will also sent two HMRT forms which are confusing me a little, the value of the house is probably between £160,000 and £180,000, so well below Inheritance tax levels.
0
This discussion has been closed.
Latest MSE News and Guides
Childcare budget boost
More support for children from nine months and those on Universal Credit
MSE News
Replies
What it may grow to in time, I know not what.
Daniel Defoe: 1725.
The IHT forms are used to show whether or not the estate is over the IHT threshold.
The guidance notes can seem a litttle daunting at first, but if you cross our everything that doesn't apply, you'll probably end up with only about 5% which DOES apply, so really it'll be very simple.
Guidance notes for IHT form here:
http://search2.hmrc.gov.uk/kb5/hmrc/forms/view.page?record=1fRygg1uHrc&formId=3310
Best place for all information, both basic and detailed:
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/BeginnersGuideToTax/InheritanceTaxEstatesAndTrusts/index.htm
Just work through it methodically, you'll be fine.
PA1
IHT205
read the notes and if you need further help the notes with the IHT400 have a bit more detail.
if it is a case of wife get everything then it will be simple as no IHT anyway.
if ther are othe bequests then there is a followon impact on the transferable nill rate band which is worth understanding for future reference.
once you wade through the notes it is relativley easy, also there are books in the library thaat cover the subject in more detail which can help allthough may not be needed if this realy is a simple estate.
If the swearing will be difficult or inconvenient due to locations you can get a solicitor to just help with that bit so you don't need to go to the probate office.
As you are both probably honest and trust each other, one of you can go on the form as 'Rights Reserved' and the other can apply for Probate.
It doesn't stop both of you working on the Will/Estate between you (as long as the signatures on letters, emails and any phone calls are made by the Executor).
I have just finished dealing with my late father's estate myself. His widow was also on the Will as Executor but I did all of the work and Probate as above.
When he died, we used a solicitor.
Words, words, they're all we have to go by!.
(Pity they are mangled by this autocorrect!)