"Excepted" Estate

Crocgunnd

Hello all - I'm trying to sort out my mothers will along with my two brothers. All three of us are executors and are the main beneficiaries.
Mum's assets are principlally her property with a few thound pounds in the bank.
Her house has been valued at around £325,000, right on the cusp of normal IHT allowance. Add in the few grand and it takes that value to around £330,000.
Since the sons are the benificiaries, can we assume that the value of the "Excepted Estate" is now £500,000?
Thanks in advance

p00hsticks

Being pedantic (but you need to be in legal matters) the terminology is 'excepted' not 'accepted'  

Was your mother married and did her husband pre-decease her and leave everything to her ? If so then she'll have inherited his £325k NRB and you won't need to worry about the additional RNRB of £175k (which I believe would save you having to complete the IHT forms even if there is no IHT due in order to claim the RNRB). 

Keep_pedalling

Crocgunnd said:

Hello all - I'm trying to sort out my mothers will along with my two brothers. All three of us are executors and are the main beneficiaries.
Mum's assets are principlally her property with a few thound pounds in the bank.
Her house has been valued at around £325,000, right on the cusp of normal IHT allowance. Add in the few grand and it takes that value to around £330,000.
Since the sons are the benificiaries, can we assume that the value of the "Accepted Estate" is now £500,000?
Thanks in advance

If your mother was not a widow then this is not an excepted estate and although no IHT will be payable an IHT return will be required to claim the residential NRB. 

If she was widowed then any unused NRB from her husband’s estate can be transferred to her estate will make it an excepted one and you will only need to apply for probate.

Crocgunnd

Thanks for the replies. Yes, mum was widowed 30 years ago.
Apologies for the terninology.