C1 Confirmation Scotland - House mentioned in will but previously transferred.

buddy9

The house cannot be shown in the inventory because your mother did not own it at the time of death.

There is a difference between the estate for confirmation, and the estate for inheritance tax purposes - they are not necessarily the same.

Do you need a Grant of Confirmation because of other assets?

ptolemy

So, my understanding now is:
1. According to buddy9, in the inventory I put zero for the value.  Then do I need to explain to the court why it is zero when my mother's will says I inherit the property?  What would the form of words be?
2. In the 'About the estate' I add the (full?) property value to the inventory value in qs 23/24/25.

Do I need to supply proof of transfer and/or property valuations?

ptolemy

The estate was simple ( cash in bank and a very small insurance to pay for the funeral ) - but over small estate threshold - her bank, RBS wants confirmation, and, although her life insurance is only 3k, Royal London want it too :-(

buddy9

ptolemy said:

So, my understanding now is:
1. According to buddy9, in the inventory I put zero for the value.  Then do I need to explain to the court why it is zero when my mother's will says I inherit the property?  What would the form of words be?
2. In the 'About the estate' I add the (full?) property value to the inventory value in qs 23/24/25.

Do I need to supply proof of transfer and/or property valuations?

1. No. I think you make no reference to the house at all in the inventory.
2. But the answers to Questions 23/24 and 25 would be calculated, including the gift with reservation inheritance tax value of the property.

ptolemy

Thank you both very much for your help.

buddy9

The brief information on page 15 of HMRC C3 suggests that where an estate includes a gift with reservation, then the estate cannot be an excepted estate. If so, an IHT 400 might be needed.