Will / trust

Skint_yet_Again

Thanks @gem16  that’s good to know. Although you are in Scotland and I don’t have a lawyer, I am hoping they will just accept the exemption should apply 🤞 Otherwise we may have to pay for a solicitor letter 

Skint_yet_Again

Ok, I have written my letter to HMRC Trust dept so will post that tomorrow. 

I have now looked at mums IHT205 & PA1 which shows 
share of joint assets (banks / car / half of household goods) £20798
total cash incl banks etc £45786
household items £450
tenants in common half house £60000
gross assets £106236
funeral expenses £1295
net assets for probate £104941
gross for IHT £127034
net for IHT £125739
assets passing to surviving spouse £65739
net qualifying value for excepted estates £60000 as per probate helpline advice 

Can anyone advise what is left of mums NRB as I can’t seem to get my head round that part. Probably trying to do too much at once. 🤯

Keep_pedalling

Skint_yet_Again said:

Ok, I have written my letter to HMRC Trust dept so will post that tomorrow. 

I have now looked at mums IHT205 & PA1 which shows 
share of joint assets (banks / car / half of household goods) £20798
total cash incl banks etc £45786
household items £450
tenants in common half house £60000
gross assets £106236
funeral expenses £1295
net assets for probate £104941
gross for IHT £127034
net for IHT £125739
assets passing to surviving spouse £65739
net qualifying value for excepted estates £60000 as per probate helpline advice 

Can anyone advise what is left of mums NRB as I can’t seem to get my head round that part. Probably trying to do too much at once. 🤯

Based on those figures £60k of her NRB was used up, but that is not correct as beneficial ownership of her share of the house also passed to her husband so that should also have included as exempted estate with none of her NRB used. 

Skint_yet_Again

😔 so much for help from the probate helpline in 2018. Probably too late to amend it now ? 

To top it off I have found multiple ancient papers and deeds and meticulous records apart from the loft extension paperwork of late 60’s / early 70’s. I believe this may result in the house being downgraded to a 2-bed with loft room rather than a 3-bed. 

According to online search I can contact the planning dept at the council Monday morning and ask them to do a manual search of their archive for historical records for the property. Think I should postpone the estate agent or ask for 2 values, one with planning/ building regs of the time & one without?