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Probate and IHT form- valuing the property

3 replies

Melfish · 19/04/2015 00:49

DF died in Jan and I have volunteered to attempt the probate and associated IHT forms. It's not too bad but I am stuck on a couple of things and would value some advice.
DF and DM owned their house as joint tenants. DM is still living in the house and has no intention of moving for the time being. I understand that I need to declare DF's share of the house on the IHT 400 form but that it won't be counted for IHT purposes. In this case, do I need to get a professional, e.g. a Surveyor's valuation or can I just use a local EA or take the neighbour's selling price which is from 2011?

OP posts:
LotusLight · 19/04/2015 09:48

That sounds right to me - it is not in the estate so not subject to IHT and your mother has inherited that share . Do look at if the estate is worth over £1m though as it might make sense to give your father's share of the house to the children by a will variation - very common - Milliband did it, when Princess Diana died it was done too).

On the valuation we just used a local EA when my father died - they will look at a house free. Same when I divorced but stayed here - 4 local EA did valuations for no charge even though I was not moving. I cannot see much point in paying a surveyor.

Melfish · 19/04/2015 23:21

Thanks LotusLight, will give one of the local EAs a call next week.

OP posts:
babbityann · 30/04/2015 18:03

My father's brother died leaving no will (in Ireland). He was single and childless. My father is dead. There is one brother still living. Does he stand to inherit all of my deseased Uncle's estate or do myself and my sister (his nieces) stand to inherit anything?

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