DIY Probate Queries

Yorkshireman99

Beware the company adding interest after death date and imposing an arbitrary repayment date. Who is the company’s regulator?

Keep_pedalling

Yorkshireman99 wrote: »

Beware the company adding interest after death date and imposing an arbitrary repayment date. Who is the company’s regulator?

Usually the company will give you up to 12 months to repay the outstanding amount, and yes they can and will probably contunue rolling up interest until the loan is fully settled, that is certainly the case with Avivas existing customers.

https://www.aviva.co.uk/retirement/equity-release/existing-customers/

Tom99

Marsie wrote: »

We have the deeds, presumably because the equity release is a small portion of property value?

So, we think we are getting in to filling in:

- PA1 probate application form
- IHT205 for inheritance tax under limit
- IHT217 for transfer of nil rate band.

If this looks off to anyone, would appreciate a steer.

Many thanks for assistance so far.

M.

[FONT=Verdana, sans-serif]I think you can only use IHT217 if none of the FIL's nil rate band had been used. If he left a Will leaving anything to anyone other than his wife or charity then I guess he would have used some of the NRB. In which case I think you fill in IHT400 and IHT402.[/FONT]

getmore4less

IT can be worth going through the IHT205(and notes) AND all the IHT400(full set) forms with their notes.

You get a better picture of the scope of IHT and the details you need to start collecting to complete the forms or if you need help in any area not fully understood.