Probate property advice

jackie201616

When my mother died 11 years ago I inherited half of their (mother & father) property and an extra third (my mothers share) of another property, I already owned a third. 
This along with a little cash made up the nil rate threshold at the time which was about 310,000.  We never got round to updating land registry and my father was always of the mind not to worry as it went through probate and there will be no issue.
Now my father has recently passed on I am getting worried about this. I can see figure given on probate for the values of half and third as above but no mention that they were actually for me. The will gives long winded sentences about using the nil rate threshold and I was the only beneficiary but I am not fully understanding of all the jargon.
I was going to try to do probate myself and whole estate will be over IHT but not sure if this property issue will cause problems. 
Any advice please.

RAS

Is the combined value of the two estates more than £1m?

Keep_pedalling

I would not worry about nothing being done with the LR at the time it is a quite a common occurrence and should be straight forward to resolve.

My main concern in your situation would be taxation. It sounds like your mother’s will was made prior to 2007 which is the year the transferable NRB between spouses came in, as it passed her NRB to you rather than your father.This means that your father’s estate can only claim his NRB plus 2X residence NRB, giving a total exemption of £675k. Anything above this will be subject to IHT.

In addition the share of the properties you inherited from your mother will be subject to capital gains tax if you sell them unless either of them have been your primary residence over the past 11 years. 

Savvy_Sue

You could still execute the estate yourself, but get some specific advice about the tax situation outlined above. 

jackie201616

The estate would only go over 1M now if my mothers inheritance was not deducted.
 Thank you. The will was made in 2006. There was an additional letter attached at the time reference established for 'the trust for all intent and purposes has been established for tax planning purposes' and funds held in discretionary trusts??? 
I am planning to take the main property as my primary residence and the second property will be a rental for hopefully a number of years of which I believe I will then have to pay CGT on.
So am I right in thinking even though I acquired half of the main property (my mothers share) I would still get double the residence NRB?