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  • FIRST POST
    • sm1ffy6
    • By sm1ffy6 12th May 18, 2:31 PM
    • 7Posts
    • 0Thanks
    sm1ffy6
    Beneficiary/Financier on Deeds Query
    • #1
    • 12th May 18, 2:31 PM
    Beneficiary/Financier on Deeds Query 12th May 18 at 2:31 PM
    Hi all,

    My father recently passed away and my mother is now living alone at home.
    The land registry has my late Grandmother as the proprietor and my father(now deceased) and my mother listed as the 'beneficiary and financiers' of the property on the land registry + deeds

    Does my mother need to go through probate or will this property automatically go to my mother without probate, and if so, what do we need to do to get the property transferred solely in my mother's name?

    Kind regards

    sm1ffy6
Page 1
    • Yorkshireman99
    • By Yorkshireman99 12th May 18, 4:54 PM
    • 4,695 Posts
    • 3,928 Thanks
    Yorkshireman99
    • #2
    • 12th May 18, 4:54 PM
    • #2
    • 12th May 18, 4:54 PM
    Hi all,

    My father recently passed away and my mother is now living alone at home.
    The land registry has my late Grandmother as the proprietor and my father(now deceased) and my mother listed as the 'beneficiary and financiers' of the property on the land registry + deeds

    Does my mother need to go through probate or will this property automatically go to my mother without probate, and if so, what do we need to do to get the property transferred solely in my mother's name?

    Kind regards

    sm1ffy6
    Originally posted by sm1ffy6
    Is there a will?
    • sm1ffy6
    • By sm1ffy6 12th May 18, 5:04 PM
    • 7 Posts
    • 0 Thanks
    sm1ffy6
    • #3
    • 12th May 18, 5:04 PM
    • #3
    • 12th May 18, 5:04 PM
    Hi

    Sorry there is no will
    • sm1ffy6
    • By sm1ffy6 12th May 18, 5:12 PM
    • 7 Posts
    • 0 Thanks
    sm1ffy6
    • #4
    • 12th May 18, 5:12 PM
    • #4
    • 12th May 18, 5:12 PM
    There is no will and they are married
    • Yorkshireman99
    • By Yorkshireman99 12th May 18, 5:18 PM
    • 4,695 Posts
    • 3,928 Thanks
    Yorkshireman99
    • #5
    • 12th May 18, 5:18 PM
    • #5
    • 12th May 18, 5:18 PM
    Hi

    Sorry there is no will
    Originally posted by sm1ffy6
    You need to investigate exactly what the Land Registry entry says. You can download a copy for 10. Then your starting point is to ask the LR what they require. What other assets did your father have? An application for letters of administration may be required. Start by reading the !!!8220;stickies!!!8221; at the start of this forum. Please as questions even if they sound silly. Plenty of help here.
    • sm1ffy6
    • By sm1ffy6 12th May 18, 5:58 PM
    • 7 Posts
    • 0 Thanks
    sm1ffy6
    • #6
    • 12th May 18, 5:58 PM
    • #6
    • 12th May 18, 5:58 PM
    Hi Yorkshire

    Thanks for your help I will enquire with LR.
    My father has another property only in his name approx 300k in value, this is why I was wondering if the main first property which they live in would be classed as part of the estate in the probate process(I would hope its not as my mum is a named beneficiary/financier on deeds)?

    I along with two brothers will be helping with probate process and may look into a deed of variation to leave everything to my Mum to avoid IHT on the second home and his other estate (the death was sudden and at a young age and we believe our mother should take the whole estate), my other concern is would there be any other tax to pay if my mother had 2 houses now in her name she does not work etc
    • Yorkshireman99
    • By Yorkshireman99 12th May 18, 6:31 PM
    • 4,695 Posts
    • 3,928 Thanks
    Yorkshireman99
    • #7
    • 12th May 18, 6:31 PM
    • #7
    • 12th May 18, 6:31 PM
    Hi Yorkshire

    Thanks for your help I will enquire with LR.
    My father has another property only in his name approx 300k in value, this is why I was wondering if the main first property which they live in would be classed as part of the estate in the probate process(I would hope its not as my mum is a named beneficiary/financier on deeds)?

    I along with two brothers will be helping with probate process and may look into a deed of variation to leave everything to my Mum to avoid IHT on the second home and his other estate (the death was sudden and at a young age and we believe our mother should take the whole estate), my other concern is would there be any other tax to pay if my mother had 2 houses now in her name she does not work etc
    Originally posted by sm1ffy6
    It really depends on what other assets your father had. It sounds as if you do need LOa and possibly a DOV. Under the circumstances you MUST get professional advice on how best to deal with it. Under the intestacy rules part of the estate will be yours. Passing the other property to you mother your mother doees not seem a good idea as it would increase the potential IHT when she dies.
    • Keep pedalling
    • By Keep pedalling 12th May 18, 11:11 PM
    • 5,622 Posts
    • 6,384 Thanks
    Keep pedalling
    • #8
    • 12th May 18, 11:11 PM
    • #8
    • 12th May 18, 11:11 PM
    It really depends on what other assets your father had. It sounds as if you do need LOa and possibly a DOV. Under the circumstances you MUST get professional advice on how best to deal with it. Under the intestacy rules part of the estate will be yours. Passing the other property to you mother your mother doees not seem a good idea as it would increase the potential IHT when she dies.
    Originally posted by Yorkshireman99
    I dont agree that giving the whole estate top her would increase IHT on her estate, As her estate would then be able to transfer his full nil rate band. This would currently leave nothing to pay on the first 900k, rising to 1M in a couple of years.

    If the combined estate is above those levels, then rather than use up his allowance, it would be better for her to receive everything then for her to make substantial gifts which would fall out of her estate after 7 years. If she is in good health, then she should be able to cover tax falling on those gifts, should she die early, with term insurance.
    Last edited by Keep pedalling; 13-05-2018 at 9:19 AM.
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