Deceased estates notice

Capt_Slog

Hi,

My wife is the executrix for her father's will. She has had the grant of Probate delivered this morning and we are looking at the next steps.

I'm advised that it would be a good idea to put a 'deceased estates notice' in The Gazette, and also in the local paper.

So we've registered at the gazette, and can see the form to fill in, it costs £64 +vat. The gazette will also put the notice in the "relevant local paper" for you, but for this service they appear to want the eye-watering amount of £190 + vat. extra.

My questions.

Surely I can put the local paper thing in myself?

But I've never seen such a notice, what form do they take?

Any other tips would be appreciated. Am I missing something.

BTW. I know we can claim expenses from the estate funds. It would be nice if there were any.

Robin9

Have you any reason to think that anyone might make a claim on your FIL's estate? Are there likely to be any IOU's around ?

Yorkshireman99

Capt_Slog wrote: »

Hi,

My wife is the executrix for her father's will. She has had the grant of Probate delivered this morning and we are looking at the next steps.

I'm advised that it would be a good idea to put a 'deceased estates notice' in The Gazette, and also in the local paper.

So we've registered at the gazette, and can see the form to fill in, it costs £64 +vat. The gazette will also put the notice in the "relevant local paper" for you, but for this service they appear to want the eye-watering amount of £190 + vat. extra.

My questions.

Surely I can put the local paper thing in myself?

But I've never seen such a notice, what form do they take?

Any other tips would be appreciated. Am I missing something.

BTW. I know we can claim expenses from the estate funds. It would be nice if there were any.

Doing it officiall means that notice will be valid and protect ain’t any claims. It appears in the gazette and the local paper. Phone the gazette and ask for details.

Capt_Slog

Robin9 wrote: »

Have you any reason to think that anyone might make a claim on your FIL's estate? Are there likely to be any IOU's around ?

Judging by the state of his finances so far, I'm thinking it's best that this avenue is covered.


As i alluded to above, there is no cash, only debts so far (funeral costs for him and his brother). The assets are:-

1. A bungalow that was left to him by his mother, which his brother lived in until May last year.

2. The family home, which his widow (wife's strep-mum*) can live in until her death. This property, we have found out, is subject to a loan which he took out on equity release but never told us about. It devalues at the rate of £15 per day.




*not a mis-print

Yorkshireman99

Capt_Slog wrote: »

Judging by the state of his finances so far, I'm thinking it's best that this avenue is covered.


As i alluded to above, there is no cash, only debts so far (funeral costs for him and his brother). The assets are:-

1. A bungalow that was left to him by his mother, which his brother lived in until May last year.

2. The family home, which his widow (wife's strep-mum*) can live in until her death. This property, we have found out, is subject to a loan which he took out on equity release but never told us about. It devalues at the rate of £15 per day.




*not a mis-print

You really need to find out about the equity release and how much £15 a day seems high.

Capt_Slog

Yorkshireman99 wrote: »

You really need to find out about the equity release and how much £15 a day seems high.

It is high, but I've seen the figures and I'm afraid it's close to being right.

He took out just under 30k against the house in 2003 and this has compounded to around 60K now (we think, we can't get full access as strep-mum is joint holder of the 'mortgage').

Flugelhorn

just wondering how you managed to get probate if strep mum hadn't given you all the info about assets?

Who are the benficiaries?

Sounds to me like the gazette is the way to go, cost from the estate not you

Yorkshireman99

Capt_Slog wrote: »

It is high, but I've seen the figures and I'm afraid it's close to being right.

He took out just under 30k against the house in 2003 and this has compounded to around 60K now (we think, we can't get full access as strep-mum is joint holder of the 'mortgage').

Note that if there is anything left when his widow dies it forms part of the estate. If there is an shortfall do you know what happens and who is liable?

getmore4less

Does the equity release allow for a life interest?

The house is not an asset of the estate if there is secured debt only the equity left belongs to the estate.

Who is the remainderman of the life interest trust?

The notices only protect the executor not the beneficiaries.

Yorkshireman99

getmore4less wrote: »

Does the equity release allow for a life interest?

The house is not an asset of the estate if there is secured debt only the equity left belongs to the estate.

Who is the remainder an of the life interest trust?

The notices only protect the executor not the beneficiaries.

Exactly. An easy trap to, fall into!

Capt_Slog

Flugelhorn.
We knew the approximate cost of the house, and and estimate of what was owed on it at the time. The amounts were under threshold for inheritance tax anyway, and so getting probate wasn't a problem.

The equity release loan can never go into the negative, we've found that much out. The main problem is that the lender refuses to deal with us, this is what I meant by not being able to get all the details.

Wife and two siblings are the beneficiaries, plus small gifts to the spawn of the strep-mum. One of the siblings is to live in the bungalow, going to pay other shares as instalments on interest free loan, next ten years or so.


"Life interest". I don't know what that means.

Also found out since the OP about the notice protecting the executor and not the beneficiaries, then saw it on here as well. Good point, and one I hadn't realised.


Anyways. This is all very interesting, but can someone give me an idea to the original questions

Is there a form of words for putting the notice in the local paper myself?
Which bit does it go in? Never seen one, but then I don't have a paper. Cheers.