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Is probate required - tenants in common first death
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OldSmithy
Posts: 41 Forumite

My FIL passed away over Christmas. He doesn’t have much in the way of financial assets to the point where I believe probate is highly unlikely to be required to release the small sums he has at various banks to my MIL.
Equally he has a TPS pension and I believe they will do what they need to do upon receipt of the death certificate.
This leaves just the property which is owned as tenants in common. My MIL has the right to live there for the rest of her life and the ultimate beneficiaries when she passes will be their children and grandchildren. As my FIL estate is well below inheritance tax thresholds is there any need to obtain probate at this point because of how the property is held?
If we can avoid the time and expense, assuming no other banks/institutions will require i, then it would be beneficial. Or is probate always required even on the first death in a tenants in common situation?
If we can avoid the time and expense, assuming no other banks/institutions will require i, then it would be beneficial. Or is probate always required even on the first death in a tenants in common situation?
Many thanks in advance for any help or guidance.
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Comments
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No you won’t need probate for the home, although legal ownership passes to the trust your mother is the beneficial owner. The trust will need to be registered with HMRC within 2 years of your father’s death.0
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Really appreciate that thank you.0
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