Executor of Parent's Will - How to proceed

nom_de_plume

MarSeven wrote: »

The death is being registered tomorrow and then we have appointments at the solicitors and bank.

Do you actually need to see a solicitor yet? You will need to use one when it comes to the house sale but you should be fine without one for dealing with the probate application.


Don't get pushed into employing one to deal with the estate at this early stage. There's no rush to tie things up and a week or two to come to terms with and get your head around things will make no difference to your role as executor.


Are you fairly local to the property?

MarSeven

Hi nom de plume,
It is just a formality to take possession of the will document prior to going to the bank. They all want to be there and accompany me to the bank to set up executor's account. Thanks for your input.

MarSeven

Hi all,
I am now in the process of filling out the forms to apply for grant of probate. I am looking at IHT403 (Gifts and other transfers of value) should it be required. To re-cap, mum died in 2018 and step-dad died in 2019. They had been married for 38 years.
I wondering whether to complete form IHT403 in respect of step-dad. Can anyone confirm whether I have to include gifts that the deceased's spouse made prior to her death in 2018? The gifts amount to £10,000 to bury whoever out-lived the other, and a low value, small car that neither of them could drive anymore due to their ill-health. Step-dad did not have mental capacity at the time due to dementia and mum was dying of cancer. Any advice would be appreciated as the form only relates to step-dad, not mum.
Thanks in advance.

Keep_pedalling

Gifts between spouses do not need to be declared.

Tom99

MarSeven wrote: »

Hi all,
I am now in the process of filling out the forms to apply for grant of probate. I am looking at IHT403 (Gifts and other transfers of value) should it be required. To re-cap, mum died in 2018 and step-dad died in 2019. They had been married for 38 years.
I wondering whether to complete form IHT403 in respect of step-dad. Can anyone confirm whether I have to include gifts that the deceased's spouse made prior to her death in 2018? The gifts amount to £10,000 to bury whoever out-lived the other, and a low value, small car that neither of them could drive anymore due to their ill-health. Step-dad did not have mental capacity at the time due to dementia and mum was dying of cancer. Any advice would be appreciated as the form only relates to step-dad, not mum.
Thanks in advance.

If the gifts were not to each other and were over £3,000 then yes I think you need to fill in IHT403. Depending of who made the gift remember each person has a £3,000pa allowance which can be carried forward for one year only.
So, for example if in 2018 Mum+Step Dad made a total gift of £10,000 jointly then on Step Dad's IHT403 you would show a gift of £5,000 in Col A and deduction of either £3,000 in Col B or, if no gifts were made the year before a deduction of £5,000 (£3,000 for that year plus £2,000 c/f)

MarSeven

Ahh, I see, thank you. I think I'm going to need a load more forms than I first thought as he/they also had occupational pensions. Best crack on...

DigForVictory

All strength to you & hoping that grabby relative et al have realised that it's in everyone's interests to cheer you on?!

MarSeven

Yes, they have all settled down. I wrote my plan and delivered it in a family meeting as we planned the funeral. I referred only to myself as the executor which seems to have brought the official process of the task into focus. The last paragraph was that if anyone was unhappy with the way I was handling the matter I would hand the whole thing over to a solicitor at cost to the estate. No further issues. Then came home and got on with it and updated the plan as I went along and wrote my next steps which I delivered to each of them by hand two weeks later at the funeral. Just tackling the probate now over the Easter holidays and as I work in a school the timing is great for me. Just some of the terminology that puzzles me, but I am making headway.

Boleyn19

As everyone has said above you can do this yourself. There are plenty of people on here who can help and I've found the government probate advisers really helpful. My brother did our Aunt's, our Dad and has completed our mother's estate - the latter being more complicated than your as it involves inheritance tax.

Take it easy but ensure as executor, you keep the other beneficiaries in the loop. Families often fall out in these sad times.