DIY Probate - many questions!

letsgetdowntobusiness

Hello, I am trying to help my FIL apply for probate, and need to understand a few things.

1. My MIL died intestate, no will
2. Her assets are under IHT threshold
3. No property owned, they lived in a family members' property, no rent but they paid utilities/bills
4. We have interim death certificate
5. MIL and FIL were married

I have seen mention of applying for letters of administration, is this something separate to completing the probate application online, or do you receive the letters of administration once the probate application has been processed?

Not using exact £ here, but have I worked this out correctly.

Jointly named money in bank/savings £50k
MIL individual money in bank/savings £20k

so MIL assets are £45k, right?

These are the answers I was going to put on the online form

Did you complete IHT forms to report the estates values? No

Gross value for the estate for inheritance tax? (this is the total value of all assets like property, money and gifts in the last 7 years before taking off any debts) £45k

Net value for the estate for inheritance tax? (Take off any debts like mortgage and credit cards from the gross value) £0 as no debts

Net qualifying value (Take off from the net value any assets passed to spouse or civil partner and money left to a charity.) £50k

Gross value in £ (This is the total value of the deceased’s assets in their sole name, To work this out, subtract the values of any joint assets passing to the other joint owner, foreign assets, all gifts and assets held in trust from the gross value of IHT) - is this £20k or £45k?

I am a little confused and don't want to get this wrong for my FIL, who is very stressed and understandably upset, so any help would be appreciated!

Thank you, good people.

Flugelhorn

In the absence of a will you apply for letters of administration - same process really

 - but I am not sure that you actually need to do this at all - the joint money is your FIL's automatically and the money in her bank a/c may be released by the bank on sight  of the death cert - they all have their own limits for doing this but most are > 20K - worth speaking to them before doing the forms

letsgetdowntobusiness

Thanks Flugelhorn, there are two investments/savings accounts that were in MIL name only, and they both have asked for a Grant of Probate letter, which is annoying, but it's their rules.  The joint bank account is not a problem.

It's the amounts above that I need to make sure that I am putting correctly if anyone can advise?

SusieT

The only thing I would query is how you have a net value of £0 which (if we were to use your example of £45k) should be the gross value - debts (£45k - £0 = £45k) and net qualifying value of £50k when the gross estate and net is valued at £45k

However, with the joint account going to he husband, the numbers would all surely all be £20k