1 or 2 Probate & IHT applications?

CoExecutor

We sadly lost our aunt and uncle within 3 days of each other, a couple of months ago. They had mirrored wills which are straightforward and their estates qualify for IHT, singularly and jointly. As executors, we are trying to get advice if we need to submit 1 or 2x probate & IHT applications for them, on the assumption that my Aunt's (who died first) estate passed straight to her husband. Or do we just need a single application for the entire estate in my Uncle's name?
We also didn't know if there were any tax benefits or cautions given the nature of the situation where spouses without children died in very close succession?
Many thanks in advance for any advice offered.

RAS

Was there property involved? Or NS&I savings?
Was there a survivorship clause in the aunt's will?
What is the total value of uncle's estate, assuming all aunt's estate went to him?

CoExecutor

Hi. Yes, there is a property to dispose of within the estate and both some National Savings and Stocks & Shares which both held individually. Total estimated value of the property and all savings for both is in the region of £1.3m - that we currently know of. Thanks

Keep_pedalling

If the mirror wills left their estate to each other and there was no survivorship clause then you will not require an IHT return for the first death as everything will be covered by spousal exemption. Whether or not you need probate for that estate will depend on the assets held within in it.

You will definitely need probate for the second death and an IHT return if it is over £650k and they had no children to leave the estate to.

poppystar

Keep_pedalling said:

If the mirror wills left their estate to each other and there was no survivorship clause then you will not require an IHT return for the first death as everything will be covered by spousal exemption. Whether or not you need probate for that estate will depend on the assets held within in it.

You will definitely need probate for the second death and an IHT return if it is over £560k and they had no children to leave the estate to.

£650k?? Possiby

Keep_pedalling

poppystar said:

Keep_pedalling said:

If the mirror wills left their estate to each other and there was no survivorship clause then you will not require an IHT return for the first death as everything will be covered by spousal exemption. Whether or not you need probate for that estate will depend on the assets held within in it.

You will definitely need probate for the second death and an IHT return if it is over £560k and they had no children to leave the estate to.

£650k?? Possiby

Sorry typo now corrected

badmemory

I believe that anything held with NS&I unless a very small amount will require probate.  I am not sure how small that small amount is though.  So always worth checking.

RAS

Typically the reported NS&I limit is £5k although occasionally people have received larger amounts without probate. Others have had to get probate solely for quite low amounts.