Different advice- Barclays Probate threhold

Keep_pedalling

bobster2 said:

LilyVla said:

Is there a way I could get a valuation of my home for free? I have had my home for 40 years and have no clue what it's worth. 

If there's not likely to be any IHT payable - could just ask 2-3 local estate agents and take the average.

If IHT is likely to be payable - best to get a RICS compliant valuation from a surveyor (for a fee) - to get the most accurate valuation possible in case HMRC raise queries. But if he's left everything to you this is probably not necessary.

It’s an exempt estate with everything covered by spousal exemption so no need to pay for a valuation. 

Dave_5150

LilyVla said:

Is there a way I could get a valuation of my home for free? I have had my home for 40 years and have no clue what it's worth. 

Would someting like this help as it is an exempt estate? https://www.zoopla.co.uk/house-prices/ 

LilyVla

Thank you so much.  Zoopla seems like a good one to use since I'm using the spouse exemption. I've been phoning around estate agents today and would prefer they not visit my property...so I'm hoping Zoopla is the answer.

Do you have to round up figures to get a whole number  for gross/net and qualifying value of estate? I feel like I've lost my brain cells. It says you should not put any decimals or commas.

So for example, if my husband’s gross estate is £54, 552.76 would I just write £55000.?

I can't thank all of you who've helped with advice enough. It was been such an emotionally dark time for me but I feel so much support from you all. 

Sarahspangles

LilyVla said:

Thank you so much.  Zoopla seems like a good one to use since I'm using the spouse exemption. I've been phoning around estate agents today and would prefer they not visit my property...so I'm hoping Zoopla is the answer.

Do you have to round up figures to get a whole number  for gross/net and qualifying value of estate? I feel like I've lost my brain cells. It says you should not put any decimals or commas.

So for example, if my husband’s gross estate is £54, 552.76 would I just write £55000.?

I can't thank all of you who've helped with advice enough. It was been such an emotionally dark time for me but I feel so much support from you all. 

On the ‘old’ forms (in use until recently) the guidance was to round down assets to the nearest pound, and round up debts.