What about IHT payments when an estate is in dispute?

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Comments

  • Kim_13 said:
    Wouldn’t it depend on what is in dispute? If it is a challenge to a will, it would usually make no difference. The value of the estate is the value of the estate, and the rate of IHT is 40% above the relevant threshold. With the estate in dispute it’s likely an administrative nightmare, trying to get the payments from the beneficiaries in a fair way several years down the road (who may have realised that it will be the executors that HMRC will chase) but if the tax is due that’s that.
    Currently there is no executor... I think. It's very confusing. But we may not know who should be paying IHT in a few months, in fact I may be owed money from what I have already paid, although it is unlikely. A nightmare does not even begin to describe this situation, I guess Ill find out when its close to due for sure when I tell them heh.
    On your other thread you say you are an executor!

    I may as well be for the purpose of potentially selling. Perhaps I actually am.
  • RAS
    RAS Posts: 32,645 Forumite
    Name Dropper First Anniversary First Post
    Who actually applied for probate?
    The person who has not made a mistake, has made nothing
  • Hoenir
    Hoenir Posts: 1,996 Forumite
    First Post Name Dropper
    Kim_13 said:
    Wouldn’t it depend on what is in dispute? If it is a challenge to a will, it would usually make no difference. The value of the estate is the value of the estate, and the rate of IHT is 40% above the relevant threshold. With the estate in dispute it’s likely an administrative nightmare, trying to get the payments from the beneficiaries in a fair way several years down the road (who may have realised that it will be the executors that HMRC will chase) but if the tax is due that’s that.
    Currently there is no executor... I think. It's very confusing. But we may not know who should be paying IHT in a few months, in fact I may be owed money from what I have already paid, although it is unlikely. A nightmare does not even begin to describe this situation, I guess Ill find out when its close to due for sure when I tell them heh.
    On your other thread you say you are an executor!

    I may as well be for the purpose of potentially selling. Perhaps I actually am.
    Who was named on the probate application? 
  • Linton
    Linton Posts: 17,125 Forumite
    Name Dropper First Post First Anniversary Hung up my suit!
    Kim_13 said:
    Wouldn’t it depend on what is in dispute? If it is a challenge to a will, it would usually make no difference. The value of the estate is the value of the estate, and the rate of IHT is 40% above the relevant threshold. With the estate in dispute it’s likely an administrative nightmare, trying to get the payments from the beneficiaries in a fair way several years down the road (who may have realised that it will be the executors that HMRC will chase) but if the tax is due that’s that.
    Currently there is no executor... I think. It's very confusing. But we may not know who should be paying IHT in a few months, in fact I may be owed money from what I have already paid, although it is unlikely. A nightmare does not even begin to describe this situation, I guess Ill find out when its close to due for sure when I tell them heh.
    On your other thread you say you are an executor!

    I may as well be for the purpose of potentially selling. Perhaps I actually am.
    You wont be able to sell the house unless you can prove you are the executor.  So you has better make sure.
  • Dave_5150
    Dave_5150 Posts: 250 Forumite
    First Anniversary First Post
    edited 13 November 2023 at 4:00PM
    Kim_13 said:
    Wouldn’t it depend on what is in dispute? If it is a challenge to a will, it would usually make no difference. The value of the estate is the value of the estate, and the rate of IHT is 40% above the relevant threshold. With the estate in dispute it’s likely an administrative nightmare, trying to get the payments from the beneficiaries in a fair way several years down the road (who may have realised that it will be the executors that HMRC will chase) but if the tax is due that’s that.
    Currently there is no executor... I think. It's very confusing. But we may not know who should be paying IHT in a few months, in fact I may be owed money from what I have already paid, although it is unlikely. A nightmare does not even begin to describe this situation, I guess Ill find out when its close to due for sure when I tell them heh.
    On your other thread you say you are an executor!

    I may as well be for the purpose of potentially selling. Perhaps I actually am.
    Only the person(s) named of the Grant Of Probate or Letters Of Administration have authority to sell estate assets e.g property.
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