Advice on planning for Probate

Keep_pedalling

There is no need to shift her money into joint accounts just to pay a future IHT bill, banks will release money from the deceased's account to pay HMRC directly using the direct payment scheme.

https://www.gov.uk/paying-inheritance-tax/deceaseds-bank-account

Sarahspangles

carlh30 said:

1) Should (with my mothers consent) - apply for joint bank account - so that on her death, I have full control (and under LPA I will still act legally in the best interests, etc)

My OH was his mum's attorney and they had a Joint Account, although the money in it was hers. As soon as she passed away this became the Executors' Account and he has added a brother who is also an Executor as a joint account holder. All credits and debits for things like pension and utility balances have gone through this account plus estate costs. Having almost all of the minor transactions in one place will make it easier to prepare the final estate accounts and the account can then be used to make the final distribution, once the sale of the property completes. 

If you do this you need to remember that the LPA ends on her death but as you become an Executor at that point a replacement set of duties falls on you.  Mentioning this as you need to make it clear when you are dealing with organisations.