Doing probate - which inheritance tax for do I need?

[KatyMac]

There should only be a small amount to pay but I got presented with several when I looked on .gov.uk

I am guessing any ISAs have to be cashed in rather than passed on to other people - looks like we will have lost quite a bit currently

Today has been the hardest day!

Did the .gov.uk tell us once thing
Transferred the electric to me

Found her address book and faced the enormity of that

And cried most of the day

Hugs xxxx

Massively impressed with HMRC - they seem to have done the transfer of my dad's tax (325) to my mum's automatically (650)

I mean I keep waiting for them to ask for paperwork to back up what I am entering but it seems to be going well

Today is the non-funeral

look after yourself xx

Hope you’re doing okay KatyMac.

I'm OK

At least I think I am - I still have waves

& I can't settled to anything

I think both of those feelings are very normal. Peace will come, but it will take time. Look after yourself.

So far every single organisation has accepted an email or uploaded copies due to Covid except the ISA people

They want the original will - I only have one copy and surely Probate will need that

So what do I do? I feel very nervous posting it right now

I got certified copies of the wills when I collected them from the solicitors, but found it weird who wanted what - dads pension company wanted his original birth and marriage certificates which I was a bit twitchy about, but sent them tracked, signed for and enclosed an addressed envelope with a request for tracked return and they've all come back.
NS&I are being incredibly slow

Yes weird!

The will was in her files, one copy

NS&I I just logged on and cashed them in

Is investments peeps - just take the will to a Solicitor to get it certified....yeah like I can do that!

So a chq has arrived to 'The executor of Katymac's mum'

How do I pay it in?

They want the original will - I only have one copy and surely Probate will need that

Yes probate need the will - but why do the ISA people need the will? Are you working ahead of getting probate and closing investments now?

You need to get probate sorted first, which only needs approx valuations, then you send the probate certificates off to all financial institutions to close/transfer accounts. This is what I did when my mum died 4 yrs ago, I found it very straightforward, but didn’t attempt to get any money before probate.

Is there property, and is it being passed to children/grandchildren? If so, I think the IHT limit becomes 500k (325 basic, plus 175 for house) per person, so a million in total?

www.gov.uk/inheritance-tax/passing-on-home

You can set up an executor account to pay the cheque into, or ask the paying company if they will pay direct to yourself. I used a second bank account that I had, and just needed my brother to sign to authorise mums bank proceeds to go into it, then I transferred half out to him. The house sale proceeds were sent directly to each of us by conveyancing solicitor.

My DB dealt with utilities and got a refund quite a while after her death, paid to ‘executor...’ he just rang them and asked them to pay to him directly, then sent me half.

No they just wanted the will or they won't talk to me - I video's turning the pages focusing on each page and sent a copy to my mum financial advisor who certified it

Natwest won't talk to me until Monday so I can't check if more payments were going in than I have found or if they will accept that check

On the cheque, apparently if you go into your bank with the will and death cert to show that you are acting as executor they will let you pay it in. I have one which I need to do that with, but haven't got as far as going to somewhere with a branch yet.

I've finished doing all the paperwork for mums IHT today after finally getting the figures from NS&I. And accepted an offer on their house without having to put it on the market from a neighbour desperate to stay in the area

Wow you are doing well! How are you feeling?

I think out IHT form will go in on Monday as long as the bank confirms no extra income

What happens if the milk man (or someone) needs paying or gives me a refund after I have applied for IHT and probate

I mean I am being careful but it could happen

I've just paid people like the milkman etc. The house clearance, pest control, and garden management I've paid for out of money that has come in like selling the car, refunds etc - I am keeping an account spreadsheet and all the invoices.

Not sure how I feel sometimes tbh. I think once I'm out of the phase of 'dealing with things' it might hit more, but between dealing with it all and worrying about MIL it's like there isn't space for anything.
I'm hoping we will be able to plant a tree with their ashes under it in August with a small gathering

That's a lovely idea about the trees

When things open up my brother may moreover from Sweden and will will put mummy with daddy

But next year we are thinking of having a booze cruise with jazz and alcohol and food - she and Pops would have loved it

I just worry that I won't have all the figures for IHT/probate complete and other bits will sneak in

I'm sure that as long as its not a large sum, or you are right on the edge of paying IHT, its fine as long as you have done everything to the best of your knowledge.

A boozy cruise sounds like a great idea, and a nice way for the family to be together

I understand about 'not having space' to deal with it

I hope things become calmer and easier over time

Finally finished the dress I started to wear for my mum's funeral (even tho' I wasn't going)

I ended up wearing my pjs with dd in the same and crying on my bed

Which means I now have a fancy dress and no where to go!!

Submitted inheritance tax today and probate

Now I just need to find someone to post a letter for me so I can send my will off

Well done on getting them finished. I had the email that Dads probate had been approved yesterday, so that took 8 weeks exactly. Mums went in last week, so now the house sale is proceeding along.
Can't believe its been 100 days since dad died though.

Does it feel longer or shorter?

8 weeks! Gosh! I can't remember did you do it online?

It's 5 since my mum I think

Weirdly, both. It seems like so long since I talked to him, but then also time has gone past so quickly. I only know its a 100 days as he died the first day of lockdown, and the BBC were showing all these photos of people in lockdown, and I was thinking it was all a bit inappropriate when so many have lost loved ones.

Yes, I did dads inheritance tax and probate online. It said to expect 8 weeks on the probate website when I did mums last week