Probate, joint ownership and IHT205

nicebutdense

Hi

I am hoping someone has experience of this:

I am helping a friend whose partner has died. There was a will with everything being left to the surviving partner and no bequests. The estate is less than £k60 including 50% of the house which was in joint ownership of husband and wife. The bank accounts are in joint names. I gather that joint assets (such as bank accounts) generally pass automatically to the surviving spouse. In this case probate will not be required. If this is correct, will HMRC require the form IHT205 (2006) return of estate information to prove the estate is not subject to inheritance tax.

I have spent ages trawling HMRC and the net but cannot find an answer, so any advice would be good.

Thanks!

getmore4less

Is this partner or spouse/civil partner?

There is probably nothing that will happen if it is not done.

If spouse by doing a IHT205 excepted estate with all proceeds going to spouse it gives HMRC a handle for any future transferable nill rate band at 100%.

Also if spouse and the right ages there may be some benifits due.

https://www.gov.uk/browse/benefits/bereavement