Will Question

troubleinparadise

partialycloudy wrote: »

My Dad is not on any other mortgage so he would not be liable for CGT would he?

The flat was not your father's principal residence, was it?

So he is probably liable for CGT on his share of the sale (depending on his personal tax circumstances).

CGT is charged on additional properties, not on mortgages held.

madbadrob

AMILLIONDOLLARS wrote: »

Not all Wills go through probate, it depends on the amount of the Estate.

AMD

However where there is a house or shares involved then probate is required by law whether the bank needs it or not

Mojisola

madbadrob wrote: »

However where there is a house or shares involved then probate is required by law whether the bank needs it or not

The flat seemed to be owned by the children so won't be part of the estate.

madbadrob

Mojisola,

Agreed on that point I was just setting the facts about probate straight that was all

partialycloudy

Thanks all for ur help and suggestions things are a bit clearer. I am going to delete my posts as I am worried a family member could see them!
Thanks again

nom_de_plume

partialycloudy wrote: »

Thanks all for ur help and suggestions things are a bit clearer. I am going to delete my posts as I am worried a family member could see them!
Thanks again

Unfortunately you can't deleted quotes. If you are really worried you should ask a mod to delete the whole thread although I don't know what the policy is here in that respect.

John_Pierpoint

We get a lot of threads on here, especially when there have been previous marriages, where there is distrust, so don't get too paranoid about this conversation with strangers.
There are three entries above that might be specific enough for someone to go "Oh my word that sounds us...." Can you send a PM (personal message) to the posters involved asking them to expurgate specific details?

I don't know how old you are but, if you were a child of mine, I would endorse your savvy attitude, we don't live in fairy land.
I lost my grandmother and my father within 12 months of each other and fortunately was a few weeks past my 21st birthday, when my financially "incompetent" father died. The older generation see their children as 10 - 15 years younger than they are
and we still suffer from the three taboos that generations find difficult to discuss. You have got two of them here: people don't like to admit they are going to die and many people live lives suggesting they are richer than they really are.
I had to spend all afternoon wading through huge index books of wills since my grandmother's death (no computer searches in those days) to get a copy of her will. Then I turned up a saga of almost criminal incompetence - so when the solicitor approached me saying "we need your signature on these papers" [What I now know to be a deed of family arrangement/instrument of variation] I was ready to dig in my heels. A decision that has over the years saved us as a family £100's of 1,000's.

AMILLIONDOLLARS

madbadrob wrote: »

However where there is a house or shares involved then probate is required by law whether the bank needs it or not

https://www.gov.uk/wills-probate-inheritance

There are two instances where probate is not needed, taken from the above website.

When a grant of representation may not be needed

You don’t normally need a grant if the estate either:

• passes to the surviving spouse/civil partner because it was held in joint names – eg a savings account
• doesn’t include land, property or share

Some couples jointly own their house and accounts. So in this instance probate is not needed.


I did not need probate when my husband died because the above applied joint ownership in everything. My Probate Solicitor checked! Infact the house is always taken out of the equation when owned jointly, Tenant in Common!



In fact probate is: When someone dies, you may be able to apply for a ‘grant of representation’. This gives you the legal right to deal with the person’s property, money and possessions (their ‘estate’). The right to deal with the estate of someone who’s died is called ‘probate’.


I'd always advise people to get legal advice before going down unnecessary routes!


AMD