Probate

WeeMo_3

Can anyone advise how this works in Northern Ireland?
thanks

ballyblack

Time scale can be up to a year or a lot longer if there is complications.

The Executor can help greatly in getting all the assets itemised & valued in the first instance

IvanOpinion

Weemo, we are currently dealing with probate. The appropriate paperwork (IHT200 etc.) must be completed with any monies passed to the tax office by the end of the month that is 6 months after the date of death. If the payment for tax is late then late payment fees (based on 5% per annum) will be charged. Note that the estate will be split into 2 ... amount on which tax is due immediately and the amount on which tax can be paid over a 10 year period (normally based on the house of the deceased) ... however in the case of the house apparently the full amount becomes payable if it is sold.

Once the tax office is happy (usually a couple of weeks) they issue a form allowing the solicitor (or yourself) to apply to the court for probate (apparently this is another couple of weeks) ... this is the stage we are at at the minute. Once the order of probate (I think it is called) is granted then I believe the solicitor will liquidate the assets and split according to the will .. possibly another 2-4 weeks.

That is currently my understanding, which may not be 100% correct.

Here is a good starting point

Ivan

coby28

Sorry tis doesnt answer your question rather raise another but I thought it was more or less on same topic. has anyone had probs getting money from Abbey after a relative has died. My solicitor has been contacting them since dad died last september and they still havent released it. We are being held up by them as all his other financial dealings have been sorted months ago. They arent replying to my solicitors letters.

IvanOpinion

Coby, I would be telling my solicitor to get the finger out and get i sorted .. what the heck do they think they are being paid what is a significant amount of money for

Ivan

WeeMo_3

IvanOpinion wrote: »

Weemo, we are currently dealing with probate.

Is it possible to do this yourself?- is there a scale for solicitors costs, is the IH200/5 available online? Cant find the form, thanks

WeeMo

IvanOpinion

I am led to believe that you can do it yourself. There are umpteen forms that have to be completed D9, D10, D20 D?? along with the IHT200 however none are particularly difficult you just have to make sure you have collated all the information. You would have to read up on the process behind it though.

Most solicitors seem to charge a percentage of the estate on a sliding scale ... I believe they are something like
- 2.5% of the first £10,000
- 2.0% from £10,001 to £30,000
- 1.5% from £30,001 to £250,000
- 0.5% from £250,001

Additional fees will include court costs, probate fees, late payment interest, executor fees (if applicable etc.)

Ivan

WeeMo_3

Thanks again Ivan- a fountain of knowledge:beer:

WeeMo_3

Is property abroad disclosable?

IvanOpinion

I have no idea on that one however I would guess (and it is only a guess) that like overseas bank accounts if they form part of the estate then they are disclosable. Definitely one for a solicitor ... alternatively phone the governments IHT helpline .. they do not ask for personal details

Ivan

harryhound

In the UK, you can do it yourself, and buy in a solicitor by the hour if you need his experience (he/she might save their fee in reduced tax by knowing what you can get away with).

It is a lot of work BUT it is anyway, because you won't want the solicitor to clear the house, hassle the gas company, organise the auctioneers etc. etc at an hourly rate of 100 - 200 GBP per hour.

However if there is real estate in Spain, you will need a solicitor (and a Spanish will ?) - you will not be able to muddle through with a "Which?" guide.