Probate

Laineyrose

Mum has nothing else in her estate apart from £5,000 in her bank account. I need to go to her bank with the death certificate and ID, but can’t make it just yet as I’ve had a foot operation. I guess I’ll know then if the bank requires grant of probate. A small amount of tax was paid to me, with regard tax owing back to mum, they only asked me for a death certificate but not grant of probate

badger09

Laineyrose wrote: »

Mum has nothing else in her estate apart from £5,000 in her bank account. I need to go to her bank with the death certificate and ID, but can’t make it just yet as I’ve had a foot operation. I guess I’ll know then if the bank requires grant of probate. A small amount of tax was paid to me, with regard tax owing back to mum, they only asked me for a death certificate but not grant of probate

If you have a look at the bank's website - try 'Bereavement' as a search term, it will tell you what level they require Probate for. Or, phone the bank's dedicated Bereavement team - I found them all helpful and knowledgeable.

getmore4less

Laineyrose wrote: »

My mother died recently and my brother and myself are executors of the will. The estate is to be divided equally between me and my brother. My mum transferred her bungalow by deed of gift to myself and my brother in 1997, so we owned the property but mum to remain in the property until her death. I just want to know whether I need to apply for probate when in effect the bungalow is not part of her estate as land registry have me and my brother as proprietors.

if done properly(how was it done?) that creates an interest in possession(life interest) trust.

You need to check the tax rules for 1997(they changed in 2006) on how to deal with the trust property for IHT and CGT purposes.

As the legal owners/trustees you won't need probate for the house.

Dox

xylophone wrote: »

You now have to consider any CGT implications on the sale of your Plymouth property as it has not been your PPR for three years.

Depends if OP nominated the Plymouth property as his PPR: https://www.gov.uk/tax-sell-home/nominating-a-home