Query re bank account and my status

julesfh

Hi all

I'm applying for grant of letters of administration following the death of my mum in early January. (She died without making a will unfortunately).

1. I had a joint bank account with mum since 1993. Upon her death she has been removed from that account and it is just in my name. I intend to share the money in that account with my 2 brothers (even though I don't think I'm legally obliged to do so 😊). I'm assuming that I don't include this in the application as it is not in mum's name anymore.
2. Where it says who is applying for probate/grant I can tick a box saying a)child b) child who was lawfully adopted or c)other

Does child lawfully adopted mean an adopted child looking to apply from a biological parent's estate or me a child adopted by my mum? I assume in the eyes of the law I would select child as I'm my mum's child even though adopted. I'm confused!

Thanks in advance

Flugelhorn

when you are an adopted child you no longer have any legal connection to the biological parents so it would mean legally adopted by the person for whom you are applying for probate

"Are there any living children or any other living descendants (such as grandchildren or great-grandchildren)?

This includes legally adopted children and their descendants, but it does not include stepchildren and their descendants."

julesfh

Ah right initially I thought it was me but then I was confused 😕 And then I read something about people dying without a will and the potential for biological children to make a claim (which as you say can't be right as that relationship is severed legally)

Thanks

p00hsticks

The standard way to deal with a joint account is to include half the amount in the account at the time of death as having belonged to the deceased and so include that amount in the probate / letters of administration calculation.

But it depends on how the account was funded - if all the money going into the account was provided by only one of the joint owners, then if that person dies and the amounts involved mean that IHT might be needed HMRC could argue that all the money in the joint account should be declared as having belwonged to the deceased.

julesfh

Yes that's what I'm wondering. I don't technically view the money as mine. It is my parents savings and I was an account holder with them as I had money paid into the account from 1993 to 1995 (I was living abroad and they transferred it to me) and then I paid money in from 2000 to 2014 which was a loan agreement I had with them.

And as I say I will be dividing it equally

julesfh

I'm not sure if IHT is needed. The total value of estate is £346k. Dad left everything to mum does that mean we can transfer his IHT allowance?

Keep_pedalling

Yes you claim the transferable NRB, no IHT return required.

julesfh

Great that's one less thing to worry about 👍