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  • FIRST POST
    • janeke
    • By janeke 12th Oct 18, 12:44 PM
    • 96Posts
    • 10Thanks
    janeke
    Should probate amounts include interest?
    • #1
    • 12th Oct 18, 12:44 PM
    Should probate amounts include interest? 12th Oct 18 at 12:44 PM
    I am compiling my late father`s financial information which I will then hand to the solicitor to complete the Probate forms. TSB, Cov Building Society and Kent Reliance have all given me a date of death valuation which includes up to date addition of interest.
    The Post Office have given me an "approximate amount" which does not include interest. They say they will give me a final settlement value once they have received the Grant of Probate. Surely I need the final settlement value before I can apply for Probate ?!
Page 1
    • Keep pedalling
    • By Keep pedalling 12th Oct 18, 1:27 PM
    • 5,684 Posts
    • 6,480 Thanks
    Keep pedalling
    • #2
    • 12th Oct 18, 1:27 PM
    • #2
    • 12th Oct 18, 1:27 PM
    Income paid after death does not need to be included in probate. It is subject to income tax so you may also need to complete a tax return to cover any tax owed or claim a refund on tax already paid.
    • Linton
    • By Linton 12th Oct 18, 1:30 PM
    • 10,082 Posts
    • 10,416 Thanks
    Linton
    • #3
    • 12th Oct 18, 1:30 PM
    • #3
    • 12th Oct 18, 1:30 PM
    I believe probate and IHT is at date of death. Any change after that point may give rise to income tax and cgt payable by the estate. The information from the banks and BSs should specify interest accrued at date of death.
    • Yorkshireman99
    • By Yorkshireman99 12th Oct 18, 5:40 PM
    • 4,784 Posts
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    Yorkshireman99
    • #4
    • 12th Oct 18, 5:40 PM
    • #4
    • 12th Oct 18, 5:40 PM
    I am compiling my late father`s financial information which I will then hand to the solicitor to complete the Probate forms. TSB, Cov Building Society and Kent Reliance have all given me a date of death valuation which includes up to date addition of interest.
    The Post Office have given me an "approximate amount" which does not include interest. They say they will give me a final settlement value once they have received the Grant of Probate. Surely I need the final settlement value before I can apply for Probate ?!
    Originally posted by janeke
    If you have done all the donkey work why not do the probate yourself? Unless you are into IHT territory an exact figure is not needed.
    • janeke
    • By janeke 13th Oct 18, 8:23 AM
    • 96 Posts
    • 10 Thanks
    janeke
    • #5
    • 13th Oct 18, 8:23 AM
    • #5
    • 13th Oct 18, 8:23 AM
    If you have done all the donkey work why not do the probate yourself? Unless you are into IHT territory an exact figure is not needed.
    Originally posted by Yorkshireman99
    There is a Trust involved which has to be wound up which makes it more complicated. Also, my brother has done Bu---r all to help and I`m not prepared to do more than I have to which will benefit him!
    • Yorkshireman99
    • By Yorkshireman99 13th Oct 18, 8:47 AM
    • 4,784 Posts
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    Yorkshireman99
    • #6
    • 13th Oct 18, 8:47 AM
    • #6
    • 13th Oct 18, 8:47 AM
    There is a Trust involved which has to be wound up which makes it more complicated. Also, my brother has done Bu---r all to help and I`m not prepared to do more than I have to which will benefit him!
    Originally posted by janeke
    Noted and understood. You have done the right thing.
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