Transfer of Spouse RNRB & NRB Net Value of Estate 10 March at 1:30PM in Deaths, funerals & probate 3 replies 177 views

sheffix2

Trying to complete IHT436 and IHT402. Stuck on Net Value of my mum's estate who pre-deceased my father in 2013. I have found her Grant of Probate which says the gross value of her estate does not exceed £325,000 & the net value does not exceed £202,000. I have no other information. Does this mean when the forms ask for the net value of her estate I put this figure? I know from the will she passed everything to my dad and the estate shouldn't be liable for IHT but want to make sure the forms are correct before I send them in. Thanks for any help again.

buddy9

Where an old style probate form states the net value does not exceed £202k, this means that the net value of the estate was £202k, rounded up to the nearest thousand pounds.

sheffix2

Thank you so much buddy9. So this shouldn't affect the transfer of Mum's RNRB & NRB given all her estate went to my Dad & she didn't gift or bequeath anything to anybody else?

buddy9

If they were married and dad inherited all, then full TNRB should be available.

And full TRNRB should be available subject to the usual limits on value of the house and the destination of same.