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Probate application error excepted estate
HazzyHazz
Posts: 2
Newbie
Hi,
myself and my 2 brothers are executors to our late mother’s estate. I mistakenly thought the estate was an excepted estate but only after submitting the probate application.
I have since completed all the IHT forms required and have now received my HMRC code required by probate (no IHT to pay). I have also now sent this to probate.
myself and my 2 brothers are executors to our late mother’s estate. I mistakenly thought the estate was an excepted estate but only after submitting the probate application.
I have since completed all the IHT forms required and have now received my HMRC code required by probate (no IHT to pay). I have also now sent this to probate.
My worry is that I initially told them it was an excepted estate and that this could cause problems? I have explained in an email to them that it was a genuine mistake and an error on my part. Has anyone and words of advice or knowledge of what may happen next? I cannot believe i will ever be the only person out there to have done this?
0
Comments
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Was the mistake due to needing to use the residential NRB?0
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Basically I submitted the application as an excepted estate to then find out this was wrong. I was told by probate to submit IHT forms which i did. The net value of estate for probate is valued at £420k, (gross is only slightly higher) both which are below the £500k threshold after claiming her £325k allowance and the extra £175k RNRB as mum is leaving the assets to her sons. It’s more that i am worried I submitted it as an excepted estate when it actually isn’t and what is likely to happen really.0
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