Sudden death no will-what now?

PasturesNew

Yes it's entirely straight forward and yes his sole sibling, without any parents being alive, will inherit the lot.

However: if there are any doubts whatsoever about there being any other relatives that might crawl out of the woodwork, investigate an insurance policy and put a notice in the Gazette. Increasingly these days this is important as, due to DNA etc, it's more likely that somebody might pursue a valid claim.

e.g. if he was a bit of a lad when younger, did he spout random kids with random women - that even he might not have known about (yet).

If, say, his parents had a hidden love child born at any point, that hidden love child would be a half-sibling of the deceased - and I think halves don't inherit if there's a full blood relative. But if it was the same parents and that child were simply brought up as a cousin by Aunt Bet without any formal adoption taking place ...then it might only be now that somebody says something to him and says "of course.... they were your parents too".

But certainly investigate insurance if you've any niggling doubts, this is insurance to protect you against "unknown now, but people with a valid claim that turn up out of the woodwork long after we've spent the money".

You never can tell with families these days!

jackyann

I do agree about checking for a will - we had a similar relative and it turned out there was a will written 40 years before his death!
However, I wouldn't get too worried about searching - as you gather paperwork and clear the house you can look for it.

Yorkshireman99

getmore4less wrote: »

Plenty of on line resources to get share prices suitable for probate valuations no need to go tracking down the FT.

Only if the estate is not likely to be liable for IHT. If it is then an accurate valuation is needed.

Misslayed

I seem to remember getting a folder called "What to do when someone dies" from the undertaker (or possibly the registrar).
I too have handled an estate myself, although on both occasions there was a very simple will, and inheritance tax did not apply. If I remember rightly there are a lot of questions to answer, but the answer to most of them is "No". I would have had to supply the information to a solicitor to fill in the form for me. There is a helpline, which was actually very helpful. It took time, but a friend who is a solicitor said it would have cost me about £7000 for him to do it.

Ali71

Hi all,


Thanks for all the really helpful replies again, my partner asked me today about CGT on the brothers house. He had been reading about being liable to CGT on a second home if you don't live there? I think once things are done the house will be transferred in to his name, although he lives with me he doesn't own any part of my house, name on the deeds is and always has been mine. I bought my first flat then this house myself, so he would only actually own one house, (the brothers) and will probably be selling it once everything is settled. I don't think he will be liable to CGT on selling it, is there any CGT liability in this circumstance please? Any advice appreciated. Posted this on tax too as wasn't sure which one to post on. Many thanks everyone. Sorry if I sound a bit daft.

Keep_pedalling

As per the answer on the saving tax forum, there is no CGT on inherited property, unless you have gains above your annual allowance between inheriting and selling and do not occupy the property.

silvercar

is there any CGT liability in this circumstance please?

No CGT on death, however many properties are owned.

The only time you may see CGT is if the property is inherited at a value of X (value at death) and by the time the sale takes place the property has increased in value between the time of sale and the value at death. Then there may (depending on personal circumstances) be a CGT liability on the difference.

tealady

Hi
When you visit the Register Office ask about the "tell us once" service. IF they offer this then the people there will contact some official organizations for you.
I know someone who used this service recently and found it very helpful.
Also the gov.uk website might have some useful info for you.
HTH

Ali71

Hi many thanks for the replies. We went to the house today, it was the first time I had ever seen it. I can now understand why my partner never wanted me to visit the "family home". It is an absolute hovel. Literally I am in shock at how someone could live like that. I think it will have to be an auction job. Still, starting to go through papers, will just have to make list of everyone that needs telling. Hopefully we can use Tell Us Once. Should hopefully get Death cert this week. Thanks everyone.

Owain_Moneysaver

Ali71 wrote: »

the "family home". It is an absolute hovel. Literally I am in shock at how someone could live like that. I think it will have to be an auction job.

Take heart, once it's been emptied (including the carpets) and the kitchen and bathroom (however dated they may be) given a good scrubbing, it will probably look much more marketable.

Remember the unoccupied house will need to be insured in the name of the Estate.