House sale pre-death, Sold post-death

clonkel

Hi,

my FiL died on the 6th of July this year. We had the house on the market and the sale was proceeding when he sadly died. The house completed on the 29th of August and the funds are now in an account administered by the trustees.

Do I value his estate with the house or with the money that has now been received?

I appreciate the values would be the same but one is a house and the other cash so filling out details on the online form would be different.

The house was tenants in common and half went to his wife (she has no capacity and is in long-term care)

thank you

Keep_pedalling

The assets you declare are the assets that he owned at the time of death, so it will be his share of the house not the cash. 

clonkel

@Keep_pedalling thank you

Notepad_Phil

Surely the sale could have failed at any point up until completion, so until completion the house was still owned and that's what you'd put on the form as July 6th was before the completion date.

clonkel

@Notepad_Phil thank you

msb1234

Out of interest, how did the house sale proceed if one owner had died and the other lacked capacity?

poppystar

msb1234 said:

Out of interest, how did the house sale proceed if one owner had died and the other lacked capacity?

Someone had PoA for surviving spouse I expect.