Probate

Mhgmg

A mistake has been made by a solicitor on a probate application with incorrect gross and net values but the probate has been granted!  Has this happened to anyone else? Any advice gratefully received.  Thanks

msb1234

I completed the probate for my mum, which was granted. Albeit it was a low value estate. When I met with my solicitor to arrange an application for guardianship for my stepfather, she pointed out that there was an error on the probate, and the figures didn’t add up. She said that unless the other beneficiaries would lose out as a result, it wouldn’t be an issue and I didn’t need to do anything. 

Mhgmg

What worries me is that the net value is zero, when the estate is worth nearly a million. I have requested that the solicitor sorts this out but it is now 4 months.  Any idea how long a correction should take?

Charlie-Otter

I am going through my first probate as a newbie, and it has been a steep learning curve! We have a much lesser situation where figures were mis-reported by the solicitor on the probate application (IHT400?). I raised it before signing the paperwork and was advised it didn't matter as there is a retrospective adjustment form (C4?) that is completed anyway before the estate is finalised, as we still have a property to sell. I was unhappy about any inaccurate figures being sent to HMRC/probate, but ultimately was pressured by the other executor to just get the ball rolling and not create unecessary delays. Down the line it now transpires that the formal record of the value of the estate (probate search public record) is now based on the inaccurate figures; as is the Inheritance Tax calculation; and the solicitors % of estate fee!!

We are still trying to sell the property, but the sale price is going to be significantly less than the initial valuation. I understand that we can complete the adjustment form C4 to have the IHT liability recalculated, but am unsure if a similar form exists to have the Probate records updated? 

In your case a net value of £1m versus a reported value of £0 is more concerning, as I would imagine you have an IHT liability that hasn't been declared, and there are very strict guidelines on paying IHT (first instalment 6 months from date of death I believe?). I would suggest a call to HMRC bereavement line, as I actually found them very helpful, and at least alert them to the issues you are having...then put a rocket under your solicitor! I'm by no means qualified to advise, but I believe if you have a liability and don't make the first payment, then fines/interest will be due, so make sure everything querying this with your solicitor is in writing, in the hope that you can recover costs from them for their error? Good luck!

Charlie-Otter

PS - meant to say in terms of timeline, we sent off all the estate valuation forms in May, and received the IHT calculation from HMRC 4-5wk later. Assuming they are still working to similar timescales, then approx a month.

Similarly from application to receiving Grant of Probate was approx 5 months (I can't be entirely certain when the solicitor submitted the forms!). There has been lots of online discussion of delays with Grants of Probate being processed, but you can check the Probate Service website for a current estimate of time to process, but 5-6 months seems about average currently.

Hoenir

Best to start a new thread, Than piggy back onto one which is months old.