Transfer Unused Nil Rate Band for Excepted Estates

Limara

My Husband died, I didn't need probate for jointly owned property and he had some money in his own name, The banks didn't need probate to deal with the accounts.
Looks like I don't have to fill in any Inheritance tax forms being excepted estate, I have looked at Claim to Transfer Unused Nil Rate Band for Excepted Estates Im a bit confused is this something I need to do now as every thing I have seen refers to it as after the second person dies, I'm just wondering where on the earth any one would get any of the figures this estate was worked out on several years down the road from now!
When I dealt with my mum's it did need probate and forms sent to HMRC and they stated what was left from her allowance to be transferred to her spouse.

Rodders53

Firstly please accept my condolences.

You are correct the transfer form is only filled out after your death.

But YOU should make a document now that details the sums involved and leave it with (a copy of) your Will, for your will's executors to use.
(You do have a will, and have reviewed it maybe updated executors etc.,., don't you?)

You could perhaps use the probate forms as a 'template' to fill in the relevant numbers, even though you have no need to submit them.

Also keep a record of any substantial gifts you make/have made that may fall outside IHT over times kept in the same place. Ideally make your executors aware of where this all is.

Keep_pedalling

If you have inherited everything then the actual amounts are not important as your estate simple has his full nil rate band added to yours. If you have children or GC to leave your estate to then your estate can also make use of your husbands full residence nil rate band if it is needed.

If any of his estate has been left to others, then you need to keep a record of that as it will reduce the amount of transferable NRB. If you keep that record with your own will then your executors life will be made that much easier.

Limara

Thanks for the advice, I didn't want to miss doing it now if it was needed I know my kids wont be capable of sorting it out !

getmore4less

the simple solution is to do the IHT forms even if they are not needed by HMRC now.

With the will and a few notes then kept along side your details that will get your administrator started.