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Probate/IHT query
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Yes, the CC debt is part of his estate. The house does not form part of his estate for probate purposes.
I make the Gross probate value £121,150. Net value £121,150 less £2k CC debt less funeral costs.
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Yes, if he was the Primary cardholder. Also when you inform the credit card company of his death, they will close the account ( once the debt is paid off), so the secondary card holder will have to apply for a new credit card for themselves.
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Thanks all - got it sent off now it's wait and see. :(
Totally didn't think of that. - Yes, the card we used was in my mothers name, money taken from joint account - but father was the primary holder which I didn't realize until it got rejected :D - Fortunately, I'm transport anyway and had mine, so we've applied for a new one. All good fun.
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