Can I apply for probate without filling in IHT400

lake888

RAS said:

Is this a joint tenancy or tenants in common?

It's a joint tenancy.

Shylock_249

probate_slave 

As poppystar suggests, the most useful thing your husband could do would be to put assets into your joint names so that they pass to you by survivorship.

I strongly agree and think it would be a good idea that lone couples of a certain age, let's say 70 would be able to merge their existing ISAs into a joint ISA account.  In my case that would avoid Probate.

Some banks and building societies have low limits; IIRC Close Bros and Paragon Banks are as low as 20k.

I phoned the 6 banks we have ISAs with asking for the Probate limit and each agreed that it would be easier for the customer and certainly for the bank if Merged Joint ISAs were introduced by the Government.

It seems ridiculous to me that a couple could have a million in a joint account with either of the banks I've listed above and if each had an ISA of just 20k bank would demand probate.

I'm suffering from Probatephobia at the moment and considering doing away with the ISA wrapper for my and my wife's ISAs, her total is £484k mine less at £435k.  Our taxable savings of £540k are in joint names.

I'd be able to deal with Probate with help from this forum but my wife certainly wouldn't and the cost of employing someone to do it might cost more than the interest saved.

Keep_pedalling

Shylock_249 said:

probate_slave 

As poppystar suggests, the most useful thing your husband could do would be to put assets into your joint names so that they pass to you by survivorship.

I strongly agree and think it would be a good idea that lone couples of a certain age, let's say 70 would be able to merge their existing ISAs into a joint ISA account.  In my case that would avoid Probate.

Some banks and building societies have low limits; IIRC Close Bros and Paragon Banks are as low as 20k.

I phoned the 6 banks we have ISAs with asking for the Probate limit and each agreed that it would be easier for the customer and certainly for the bank if Merged Joint ISAs were introduced by the Government.

It seems ridiculous to me that a couple could have a million in a joint account with either of the banks I've listed above and if each had an ISA of just 20k bank would demand probate.

I'm suffering from Probatephobia at the moment and considering doing away with the ISA wrapper for my and my wife's ISAs, her total is £484k mine less at £435k.  Our taxable savings of £540k are in joint names.

I'd be able to deal with Probate with help from this forum but my wife certainly wouldn't and the cost of employing someone to do it might cost more than the interest saved.

There are no such things as joint ISAs and it would be foolish to get rid of a substantial ISA just to avoid probate. 

Shylock_249

Keep_pedalling said:

Shylock_249 said:

I strongly agree and think it would be a good idea that lone couples of a certain age, let's say 70 would be able to merge their existing ISAs into a joint ISA account.  In my case that would avoid Probate.

I phoned the 6 banks we have ISAs with asking for the Probate limit and each agreed that it would be easier for the customer and certainly for the bank if Merged Joint ISAs were introduced by the Government.

There are no such things as joint ISAs and it would be foolish to get rid of a substantial ISA just to avoid probate. 

Yes I know there are no such things and didn't say there were.  My point is that it would be a good idea if the government introduced them.  

Keep_pedalling

Shylock_249 said:

Keep_pedalling said:

Shylock_249 said:

I strongly agree and think it would be a good idea that lone couples of a certain age, let's say 70 would be able to merge their existing ISAs into a joint ISA account.  In my case that would avoid Probate.

I phoned the 6 banks we have ISAs with asking for the Probate limit and each agreed that it would be easier for the customer and certainly for the bank if Merged Joint ISAs were introduced by the Government.

There are no such things as joint ISAs and it would be foolish to get rid of a substantial ISA just to avoid probate. 

Yes I know there are no such things and didn't say there were.  My point is that it would be a good idea if the government introduced them.  

Sorry, I misunderstood.