Help with intestate & probate dispute

TBagpuss

No, if it was in her sole name (or waiting transfer to her name) then it would count as being in her sole name.

If you also had a property in your joint names than that would pass directly to you.

Then you would need to add up the total value of allo f your wife's other property - so her MiL's house, plus any other savigns and assets.

You would be entitled to £350K + 50% of the balance, and the remaining 50% would go to your children in equal shares.

SO if your MILs house was the only asset your wife held in her sole same, and it was worth £400K, then you would be entitled to £250K of that, with the remaining £150K split equally SO you would be entitled to £325K and your children to £75K split between them.

If your wife had further assets in her sole name then you need to add them to the original £400K (so if she had the house plus savings of £50K, then the total would be £450K, you'd get £250K, plus 50% of the balance, so you would be entitled to a total of £350K and the children would get £100K between them.

If you and your wife owned your own home as tenants in common rather than as joint tenants then the figures will be different again.

I'd recommend that you go and speak to a solicitor sooner rather than later.

And consider making a will, too.

Yorkshireman99

The intestacy rules are here.

https://www.gov.uk/inherits-someone-dies-without-will

You can check how much you owe. I suggest you seek urgent paid for professional advice.

getmore4less

Disgruntled_traveller wrote: »

Hi Poppy, thanks for your reply.
My wife's death was in May 2013.
The value of the property was approx £400k.

The rules changed in Oct 2014 make sure you use the correct version.

A lot of sites will only have the new rules.

Mojisola

Disgruntled_traveller wrote: »

Last year had my mother in law's property transferred into my name using a solicitor etc.

TBagpuss wrote: »

I'd recommend that you go and speak to a solicitor sooner rather than later.

But don't use the one you used before - he/she should have realised that there was a problem with transferring the property to your name alone.

Keep_pedalling

I hope you have now sorted your own will and have a lasting power of attorney in place. To make this mistake twice would be very foolish.

nom_de_plume

TBagpuss wrote: »

SO if your MILs house was the only asset your wife held in her sole same, and it was worth £400K, then you would be entitled to £250K of that, with the remaining £150K split equally SO you would be entitled to £325K and your children to £75K split between them.

There is the further complication in that the £75k to the OP would be a life interest only so whilst he can presumably receive the rental income from it, he cannot dispose of it as such (i.e. spend it).

On the subject of rental income, the children would be entitled to 18.75% in total (calculated as 75k / 400k) and from date of death.

getmore4less

Mojisola wrote: »

But don't use the one you used before - he/she should have realised that there was a problem with transferring the property to your name alone.

How would they?

If you went into a solicitors as administrator of an estate and instructed them to transfer a property along with all the relevent documents- death certificates, grants they should not need to ask or see any other documents about the estates.

It would make the grant a useless document if all the asset holders had to check you were doing your job properly.

Mojisola

getmore4less wrote: »

How would they?

If you went into a solicitors as administrator of an estate and instructed them to transfer a property along with all the relevent documents- death certificates, grants they should not need to ask or see any other documents about the estates.

I would expect a good solicitor to ask some basic questions especially as the estate was intestate.

getmore4less

A few thoughts

Can you document any beneficial interest in the property during the period up to your wifes death.

putting in cash for the renovations sharing the income(tax return) etc.

you will need legal advice if this is sufficient to establish any ownership.

AT wifes DOD you will need to establish the value of the property
(note that as this was rented her share will be revalued for CGT)

Then rework the estate administration.

One key change her is that the estate no longer has 100% spouse exemption meaning the transferable nil rate band will be reduced.

You then have the issue of the share owned by the children and the share owned by the trust(interest in possession) created by the intestate estate.

as aside note what was the house worth in 2008 that was near the peak and the nil rate band then was lower.
6 April 2008 5 April 2009 £312,000
6 April 2007 5 April 2008 £300,000

Was an estate return done for the MIL?

getmore4less

Mojisola wrote: »

I would expect a good solicitor to ask some basic questions especially as the estate was intestate.

A good solicitor will do as instructed and not create extra work.

same with the land registry if the OP had done the simple work themselves

It is none of their business if the Administrator has paid the taxes or is dishing out the assets correctly.