Death in North Cyprus + cost of solicitors? Thanks

jeffnail

Hi my dad passed away on the 31/12 and was buried a few days later in Noth Cyprus. We have obtained the death certicate x8 from the North Cyprus government so no issues so far HOWEVER 2 questions please -

1. Been told that I may have to obtain A British Death Cert from the FCO at a cost of £105 + £65 per original death cert which will cost approx £500 in total as we may need 6-7 originals.

Also the cost of a solicitor to transfer all the assets from my dads name to my mums as they have mirror wills?

The assets are approx £700k in total with the family owned house as tenancy in common owned.

Thanks in advance

Thanks in advance...

RAS

Sorry to here about your loss.

If the family home is owned as tenants in common then the estate only includes dad's share. Mum's share belongs to her already.

She would actually have been better off if it had been a joint tenancy as the whole property would automatically transfer to her as the sole tenant.

jeffnail

Thanks RAS - was told by accountants many years to do it as a 50%/50% due to IHT as my dad had property assets all in his name that is being transferred to my mum.

Any idea of the costs i am looking at with the solicitors? are we looking at under £2,500 or we are looking at +£3k/£4k - His assets on the properties total £700k the will says everythuing to my mum

RAS

Many solicitors charge a percentage say 1-2% of the estate value plus other costs.

So his assets (excluding half the value of the house) is over £700K?

You are going to need to find £140,000 in IHT payments.

jeffnail

£140k IHT?
All his assets are being transferred to his spouse -my mum as per the will - Assets passed between spouses been told do not attrach IHT?
Can you confirm how and where you got the £140k figure for IHT tax bill?

You are getting me worried now!!!

dzug1

jeffnail wrote: »

1. Been told that I may have to obtain A British Death Cert from the FCO at a cost of £105 + £65 per original death cert which will cost approx £500 in total as we may need 6-7 originals.

...

Not sure why you'd need so many - I would have thought that one would be sufficient to obtain Probate here - then get multiple copies of that rather more cheaply

madbadrob

Was your dad domiciled in Cyprus? If so then there would be no UK IHT to pay unless he had property and monies in banks over here.

Rob

Savvy_Sue

Is there property / estate in both UK and Cyprus? You may need to act in both countries.

getmore4less

Who are executors?

solicitors costs to do the property transfer would be £100s in the UK not £ks.

simple transfer form you can DIY if executor ,for UK property

Not sure about any Cyprus assets/solicitors.

There may also be inheritance issues if the laws(are they Turkish for northern Cyprus these days?) are different and don't allow 100% transfer to spouse.

ttoli

IMO The best place to seek advice concerning legalities here in Northern Cyprus are the British Residents society, http://www.brstrnc.com/

jeffnail

Thanks for all the replies -
He was a UK resident and also dom in UK with british passport. He spent several months in Northern cyprus each year as they have family on the island. However his main place of residence was UK as he had commercial interests here and lived on the rental income. No assets or money in Cyprus as everything was in my mums name.

Have been quoted by several solicitor firms in London today that the cost is between £200-£250 per hour to obtain probate.

Is this reasonable in London? 20 hours work would be £5k!!