Probate questions

noclaf

A brief update and some follow up questions if anyone is able to provide pointers.

I have asked the two executors of my mum's will to each complete a PA11 form. One is completed and signed, waiting for the second form.

- I assume would need to send both PA11 forms along with other required probate forms to apply for probate?

- As part of calculating my mother's total estate value for probate purposes, I will need to write to each insurance company to determine if any there are any sums payable on any of the policies and I need to know the values where applicable( in order to report the overall value of her estate. )-As I am not an executor of the will (only a beneficiary), would anyone know if the insurers are likely to be willing to share any information or refuse on the grounds I am not an executor? This feels like a catch 22 situation as I can't calculate the estate value without that info.....unless I have made some incorrect assumptions above.

- I have notified my mum's bank. The value of her accounts is less than £25k. What I am unsure of is whether as a beneficiary but not a executor, am I allowed to request the transfer of her money? Wary that I don't want to get into any trouble re legalities if only the executor is permitted to deal with the estate at this current point I have held off from requesting transfer of the bank balances.

RAS

Once you have the renunciation forms, I'd suggest you get a certified copy of each. Some solicitors are greedy, others do it for under £50. This really is just insurance, because the originals need to go to the Probate Registry. And get scans, try the library if you don't own a scanner.

Speak to the bank's bereavement team and check their limit and procedures. You may need to take the will and forms, and ID to the bank, or you may be able to send the scans.

If the amount in the account is under the bank's limit (often £20-50k), they should just transfer the money direct to your bank account as you are the sole beneficiary.

Do just tell your own bank you are getting an inheritance before it arrives. They tend to get twitchy about AML these days.

noclaf

Thanks RAS. It's those finer aspects that I would not even think of e.g: certified copies of renunciation forms.

Re mum's bank accounts I think will speak to them directly to avoid any possible issues.

RAS

Strictly speaking you don't need them. But you may find someone who would release money before probate if you provided them. Probate's a lot quicker now if you go on-line but if there are any queries, there will be delays.

noclaf

I've been sifting through my mum's paperwork for various policies..some were opened in the 80's and 90's, some of the firms merged with or were taken over by other firms.

Barclays life assurance co Ltd should be fairly straightforward to find contact details.

Anyone here had recent dealings with the following..possibly now under Aviva and Phoenix group respectively but I need to confirm:

Friends Provident that was based in Dorking, Surrey

Scottish Amicable Investments that was based in Stirling ***I now understand their policies were transferred to Prudential/M&G and have a contact number***

This might be a silly question but if I am writing letters to these firms or whichever firm they are now under, what additional information aside from policy numbers and my contact details should I include? E.g.: a copy of my mum's death certificate or is that too much info initially, just curious how others would approach? Thanks

noclaf

Update:

• I have now received both completed PA11 forms from the two executors listed on mums will
• The bank have transferred all her cash funds to me and closed her accounts.
• I have a reasonably good grasp of mum's estate value - her half of the property+ cash = circa £265k. That figure does not take into account her funeral costs, refund of pension overpayment and final payment to OPG (in relation to my deputy ship) or any costs/fees that will be incurred for probate.

So good progress on above points however it's been a tough a few months. I am burned out from work stress which initially was fine to help with distraction and not over thinking but now it's more of a burden and I haven't done much else in regards to sending probate forms...lack of time, mentally fatigued and procrastinating too much.

I am concerned that the 6 month anniversary of my mum's passing is approaching and don't want to get dinged by HMRC or the Probate office.

So would appreciate guidance on any of the following:

- Mum's estate is less than the 325k NRB therefore as I understand an excepted estate but I assume it would be beneficial (or possibly still required ) to still complete an IHT400 so that there is a clear audit trail and evidence if any questions from HMRC, Probate office or if the Land Registry query this aspect when it comes to updating the property deeds?

Is there any reason to utilise the Additional nil rate band of £175k given her estate is within the standard NRB anyway? When my dad passed in 2020 (and noting parents were divorced and not remarried) we had to use the additional NRB as his estate was above NRB, that is not an issue here.

• Where should I be focussing my efforts, IHT400 first and getting that submitted to HMRC, or the Probate application before the end of the 6 month period from when my mum passed? Or do I just need to get both over the line asap? It's the 6 month window aspect that is stressing me out if that is a hard deadline even though there is no IHT owed based on the numbers involved.

As always appreciate any pointers/suggestions. Thanks.

RAS

There is no specific time line for probate, so please relax.

Since you are her sole beneficiary, there is no absolute need to get probate unless you want to sell the house.

Since you are already living in the house neither CT or CGT are issues.

Do you have a will yourself? Thar's probably more important than probate at the moment. Sort that out and give yourself a year off.

This is an exempt estate, so come back next year when you are ready.

Keep_pedalling

Life insurance policies do not normally form part of someone’s estate so you should be able to ignore those as far as a[plying for probate valuation is concerned.

If her estate is below £325k you do not need to make an IHT return so doing so would be absolutely pointless add just cause delays in gaining probate. Concentrating on the probate application.

noclaf

Thanks @RAS and @Keep_pedalling, your comments are very reassuring.

To address your questions/responses:

- No wills in place for either my wife or I, need to get our house in order (pardon the pun) as I was thinking might be a good time to review. We have a young child so more important to get this sorted sooner rather than later. It seems our parents were far more organised than us on this aspect.

- Given the estate is excepted, should not need to submit an IHT return so will focus on probate which seems less complicated. I will at least get the ball rolling on that though as mentioned not looking to sell but will be good to have the deeds updated and then ticked off for good order.

- Interesting point regarding Life insurance policies not being in scope of the estate, I was not aware. This is another area of slight concern, am fairly sure none of mum's policies were live and all were cashed in many years back but on the remotely small chance something comes out of the woodwork later would not want it to cause issues with the estate value (I don't think it's possible based on where the valuation is so should not be anything to worry about).

Keep_pedalling

If by chance any missing assets turn up later then there is no need to make any changes to the probate value, it is only If missing assets mean IHT should have been paid that you need to be concerned.

I would strongly advise that you get wills in place and while you are at it get lasting powers of attorney in place as well especially for finance.