Understanding Grant of Representation

My_car_didnt_float

Hope someone can help, unexpectedly I received a letter from a solicitor stating an aunt I hadn't seen in over 45 years had passed away and I was one of the beneficiaries of her will. The solicitors haven't been very helpful, so I applied for a copy of the probate. My question is does the end of the statement below where it states "£***, ***" mean the value of her estate left is £***, *** to be distributed between the beneficiaries?

"It is hereby certified that it appears from information supplied on the application for this grant that the gross value of the said estate in the United Kingdom does not exceed £325,000 and the net value of such estate does not exceed £***, ***"

It's the words "does not exceed" that has got me confused !

Thanks Steve

MovingForwards

It's standard wording on the form when applying for probate.

Nothing to concern yourself with. It's to do with IHT.

There should be a figure saying what her actual estate amounts to. That's the figure to be distributed.

My_car_didnt_float

MovingForwards wrote: »

It's standard wording on the form when applying for probate.

Nothing to concern yourself with. It's to do with IHT.

There should be a figure saying what her actual estate amounts to. That's the figure to be distributed.

Thanks for the reply, this wording is on the grant of representation not the form applying for probate. These are the only figures mentioned on the whole form, thus my confusion??

MovingForwards

They take the info from the oath / form and incorporate it into the grant.

Forgot to say the solicitors fees will come out of the estate before it's distributed.

MovingForwards

https://www.gov.uk/government/publications/form-pa1a-apply-for-probate-deceased-did-not-leave-a-will

Just so you have a better idea

Tom99

My_car_didnt_float wrote: »

Hope someone can help, unexpectedly I received a letter from a solicitor stating an aunt I hadn't seen in over 45 years had passed away and I was one of the beneficiaries of her will. The solicitors haven't been very helpful, so I applied for a copy of the probate. My question is does the end of the statement below where it states "£***, ***" mean the value of her estate left is £***, *** to be distributed between the beneficiaries?

"It is hereby certified that it appears from information supplied on the application for this grant that the gross value of the said estate in the United Kingdom does not exceed £325,000 and the net value of such estate does not exceed £***, ***"

It's the words "does not exceed" that has got me confused !

Thanks Steve

Is the 2nd figure a very round number like the 1st, £325,000? That is the Nil Rate Band figure.

Just looked at the Grant for my Mum, the wording is almost the same except instead of 'does not exceed' the words are 'amounts to' and the two amounts are very exact figures as per the probate/IHT application. Both my figures are over £325,000.

My_car_didnt_float

Tom99 wrote: »

Is the 2nd figure a very round number like the 1st, £325,000? That is the Nil Rate Band figure.

Just looked at the Grant for my Mum, the wording is almost the same except instead of 'does not exceed' the words are 'amounts to' and the two amounts are very exact figures as per the probate/IHT application. Both my figures are over £325,000.

Thanks for your reply, yes the *** figure is very exact, I know that £325,000 is the lower inheritance tax limit and assumed the other figure was a tax figure too, but have now been told it could be the value of her estate !!
Was the second figure on your will the amount of your mums estate?

Thanks again

Tom99

My_car_didnt_float wrote: »

Thanks for your reply, yes the *** figure is very exact, I know that £325,000 is the lower inheritance tax limit and assumed the other figure was a tax figure too, but have now been told it could be the value of her estate !!
Was the second figure on your will the amount of your mum's estate?

Thanks again

Yes both my figures were the exact sums I submitted on the forms both exceeded £325,000.