The Probate Journey Begins

p00hsticks

DancingBadger said:

I downloaded Form PA15 (which I think is the correct one) and BIL has signed it in front of one of his neighbours.  I might have missed it, but I couldn't see on the Government website what I should do with this form,

The website says (step 6) that BIL should simply give the completed PA15 to whoever is going to be the executor applying for probate (you ?)

https://www.gov.uk/government/publications/form-pa15-give-up-probate-executor-rights

I'm not sure that RAS is correct in saying that you'll need a death certificate for the sister - unless the death is very recent I think that these days the Probat Office can simply check that online (I recently wasn't asked to send a death certificate for the person I was submitting the probate for) but if not you'll need details like date of death and where the death was registered.

I can't recall but I suspect when you come to complete the probate form it will ask about named executors who have pre-deceased  or renounced.

DancingBadger

RAS said:

You'll need a copy of the death certificate for BIL's sister.

I have it.  Just not sure what to do with it now.

DancingBadger

Thank you for your responses.

Am I right in thinking that I should hold on to the signed renunciation form for now and concentrate on filling out an IHT form?  

jsatellite

There's a section in the PA1P form where you list executors who have renounced and/or died (giving their date of death). You send the signed PA15 along with it. There's no mention of needing to send an executor's death certificate.

RAS

DancingBadger said:

Thank you for your responses.

Am I right in thinking that I should hold on to the signed renunciation form for now and concentrate on filling out an IHT form?  

DancingBadger

One word of caution..

Hope this does not sound too awful. And it is not necessary for you to reply, just to consider.

If Sister and SIL are deceased and BIL is getting elderly, are there other members of the family who could take over the probate if anything happened to you?

If you have a will, then it would be for your executors to sort out; otherwise it depends on who in the wider family gets letters of administration first; and it not always the ones closest to the deceased.

In the absence of other close family, it may be wise to ask BIL to reserve powers rather than to renounce wholly. Just as an insurance policy that I hope is never needed.

DancingBadger

I think I now have the information I need to complete the tax form and start the process of applying for Grant of Probate.  On the face of it, my sister's estate is fairly simple (with the exception of the Land Registry part).  Two local estate agents have valued the property at £525,000 and £550,000 and money held in her three savings accounts totals a shade over £58,300, and will be passed to her husband.  I put these figures into an online Government IHT calculator and it stated no IHT is due.  Please could you confirm I'm  right in thinking the correct tax form for these circumstances is the IHT205?

p00hsticks

Are you aiming to do it by post or online ?

Online is supposed to be quicker, but you may find with an estate that size you are re-routed to a paper form  (sorry, I can't answer your question about which one, but I think an online application would tell you if required) ?

https://www.gov.uk/applying-for-probate/apply-for-probate

DancingBadger

Another question, if I may:  Two local estate agents have given written valuations for the property - £565,000 and £575,000.  
Should I use the higher valuation for Probate purposes, even though the house is in need of considerable updating and renovation, including a complete rewire, and will probably eventually be marketed as a "doer upper"?

getmore4less

Just picked this up.

from the first post.

Briefly, she had about £55k in various accounts and owned a house with her husband as tenants in common. 

Why did you think you needed probate?

if the house was in joint names(even TIC) it was not needed to process that part of the estate.

If the rest of the estate is a few account there is a chance it was not needed for those unless they asked for it.


As the house share goes to a IPDI trust the FIL could process the house and add you as trustee.

As everything is(for IHT) going to the FIL there is no IHT and depending on the gift situation in the last 7 years there will be both transferable nil rate bands  to usewhen dealing with his estate. 

if you are still going to do the IHT forms then the house value  is that at date of death not the new valuations unless t hey were specifically done as a value at DOD

DancingBadger

Why did you think you needed probate?

Before posting on this forum just about everything I read stated probate would be needed for estates in excess of £5k.  Also two of the companies require sight of a certified copy death certificate and GOP before they will release funds.

As the house share goes to a IPDI trust the FIL could process the house and add you as trustee.

IPDI?  BIL is 85 and physically not in good shape.  Apparently, a friend mentioned setting up a family trust just after my sister died and he stated then he was just not interested in the "legal stuff".

As everything is(for IHT) going to the FIL there is no IHT and depending on the gift situation in the last 7 years there will be both transferable nil rate bands  to usewhen dealing with his estate.

No gifts.  My sister's savings have been left to her husband.  Her 50% share of the property has been left to her SIL (husband's sister) and me. My "back of fag packet" calculation, assuming a whole property value of £560,000 gives me a figure in the region of £45k to transfer to my BIL's nil rate IHT allowance.  Have I understood that correctly?

if you are still going to do the IHT forms then the house value  is that at date of death not the new valuations unless t hey were specifically done as a value at DOD

Thank you.