IHT400 Confusion

AJS1491

Hi everyone
Just looking for advice as I am confused. Due to cost I am doing my mums IHT and probate myself. The solicitors I was going to use said I need to send IHT400 form as thr property is in a will trust which triggered in 2025 on my father's death.

I have looked at the form and I feel stupid asking this but for property value do I put the whole property value or just mums half as dad's is in the will trust.

Mum had life access to the property.

There is no other assets and I do not plan on selling the house as its the only home I have ever know and have health issues.

I understand that my father IHT allowance can be applied to my mums, dads was only a few thousand as the trust was triggered and everything else went to mum.

Also do I need to note she was not living at the address at time of death as she recently moved to a care home but was 100% responsible for the property as per the will trust?

Keep_pedalling

Assuming your father’s will created an immediate post death interest trust, then you mother was the beneficial owner of the whole house so it is the full value that needs to be given. The would not have used any of your father’s NRB or residential NRB. The downsizing rule applies so the residential NRBs are still claimable.

Is the value of her estate including the house in excess of £650k? If not you won’t need to do an IHT return unless your father’s NRB was used with bequests to other people.

Doing probate yourself not only saves money it means you will be able to wind up the estate much quicker than a solicitor. If you find yourself getting stuck you will find plenty of help from the regulars on here.

AJS1491

thank you. The house is worth around £413,000 total and her personapersonal assests less than 5,000. My father did no gifts, so mum was the beneficiary of 2x small private pension.

The will trust just states if mum or dad dies first the trust is triggered and their half is in the trust but the other has lifetime access and can sell if they wish but half of any selling cost goes into the trust until the other spouse dies and then it all goes to the beneficiaries. This wasn't an issue as neither planned to sell.

Thank you for your help the information on official sources websites were so confusing and CAB just directed me to the government pages.

Keep_pedalling

OK that makes it simple, no IHT required as the entire estate is covered by her NRB and the transferable NRB from your father’s estate, so just need to apply for probate to deal with the house. The pensions do not form part of her estate, and banks ect should release any money held to the executors on production of her will and proof of ID.

You can apply for probate on line.

https://www.gov.uk/applying-for-probate/apply-for-probate

Before you do that I would suggest you download the PDF version of the probate form so you know what info you need before you start.

https://assets.publishing.service.gov.uk/media/67b6f6ab78dd6cacb71c6a3e/PA1P_0124_citizen.pdf

Are you the sole executor?

AJS1491

thank you. So on probate I put the whole value of the property and not just her share or half as due to

Keep_pedalling

If you look at the form you have to provide separate values for IHT and probate. You include the whole value for IHT and just the value of her share for probate value.