Problem completing PA1 - Value of estate

*~Zephyr~*

I'm in the process of obtaining probate for my Nan's estate and have come across a stumbling block.

We know she has accounts with NS&I but we don't know how much is in them/what they are worth. NS&I have said that they won't tell us until we have the Grant of Probate. All well and good, but without an answer from NS&I we can't calculate the full value of the estate, and without the full value of the estate we can't complete form PA1, which needs the total value of the estate from IHT205.

There must be a way around this surely?

G6JNS

*~Zephyr~* wrote: »

I'm in the process of obtaining probate for my Nan's estate and have come across a stumbling block.

We know she has accounts with NS&I but we don't know how much is in them/what they are worth. NS&I have said that they won't tell us until we have the Grant of Probate. All well and good, but without an answer from NS&I we can't calculate the full value of the estate, and without the full value of the estate we can't complete form PA1, which needs the total value of the estate from IHT205.

There must be a way around this surely?

Unless the value of the estate is close to, or over, the IHT limit then ignore it.

Mattygroves2

*~Zephyr~* wrote: »

I'm in the process of obtaining probate for my Nan's estate and have come across a stumbling block.

We know she has accounts with NS&I but we don't know how much is in them/what they are worth. NS&I have said that they won't tell us until we have the Grant of Probate. All well and good, but without an answer from NS&I we can't calculate the full value of the estate, and without the full value of the estate we can't complete form PA1, which needs the total value of the estate from IHT205.

There must be a way around this surely?

NS&I will give you the balances - my OH did it last year. You need to follow their bereavement procedure and send copies of death certificate and will plus their forms.

*~Zephyr~*

Mattygroves2 wrote: »

NS&I will give you the balances - my OH did it last year. You need to follow their bereavement procedure and send copies of death certificate and will plus their forms.

Thanks Mattygroves, we have done that. We've filled in the forms and sent the death certificate and the will and they still refuse to disclose value without a Grant of Probate.

*~Zephyr~*

G6JNS wrote: »

Unless the value of the estate is close to, or over, the IHT limit then ignore it.

No, the estate is nowhere near the IHT limit. I did think about ignoring it, but was worried that the Grant would then be incorrect.

Hypothetical question, because it can't possibly be this, but what if the NS&I account was worth £1m?? What if we went ahead with the PA1 form and then found that there was loads more money to be declared? Do you have to submit and amendment to the Grant?

I'm overthinking this, I know, but I can't get my head around how you're supposed to know how much the estate is worth before getting the grant. *sigh*

getmore4less

Fill in the IHT forms with estimates and is there space for noted why these are estimates.
(you could phone HMRC and ask if they are happy with that)

transfer the relevent numbers to the PA1 form

if you need to go back and change things(because there is now IHT) then so be it.