HELP ! Probate, IHT, everything !

Aniset

Hi everyone
Thanks in advance for any help...I'm feeling pretty overwelmed & would appreciative for any guidance as to what to do/where to start,

Anyway, situation is:
- Dad has passed away.
- I've seen a copy of will which leaves everything to his wife.(my mum)
- house (jointly owned) worth about £500k
- other assets in his sole name about £110k (premium bonds & bank a/c)
- his wife is named as executor , then me & my sibling named as executors if mum unable to do it. She is old & won't be able to do it& me and sibling probably can't if it's complicated. I live overseas.

So I'm thinking... Is it best to get solicitor/bank to sort things out, or I've seen advert for probate brokers.?- any guesstimate on avg fee

will house transfer to mums sole name and what to do/happens with premium bonds & bank a/c?

If my mum inherits everything I presume She has to pay IHT.

Oh dear, my head hurts...just don't know where to begin starting sorting things as no good with financial things.

Thanks for any help. The site is great with so much good info but I just don't seem to get it.

Keep_pedalling

It is actually not that complicated, and if your sibling still lives close to your mum they should be able to sort this out without too much difficulty. As everything is passing to your mother there will be no IHT to pay.

SeniorSam

As her name is already on the Deeds, there is no need to make any changes at this time. When your Mum dies, then the figures will need to be looked at regarding IHT, but allowances at thgis time for each person are £325,000, so double that before tax.

If your siblings contact the |Probate office, they are very helpful and may be able to do it without a solicitor, who would charge a large amount.

Sam

getmore4less

Chances are this is going to be not that bad, thing is at some point it will need doing again so worth doing it this time.

There are quite a few guides(on-line/books) to the basics but nothing realy needs to be done in a hurry so get the funerals etc out the way.

If anything it is not hard but tedious and takes time as you deal with places that take time to respond. and is more about being organised to go through things.

the basics are

make a list of everything.

fill in a couple of forms (with loads of guidence notes)

get a grant to administer the estate.

Deal with the institutions(collect the asset or just transfer it)

If ther eis anything hard or not understood can ask here and/or get legal advice on a as needed basis.

AnnaKeys

I've done Grant of Probate twice now, for Dad and now Mum years later. The Registrar when we registered the death was very helpful and gave us an information pack on what to do and said how many certificates to obtain to make things easier. There is lots of advice online including the Probate Service. Most Banks, Companies, service providers etc have Bereavement Departments to phone who will make a note of the death and advise you how to transfer assets and Bill payer etc when you have Probate. Filling in the Probate Application was straightforward and I opted to see a local Solicitor for the Oath taking at only about £!5 a few weeks later, Probate Grant was then quite quick.