Probate Specialist / Solicitor

[system2319]

Hi all,

Just looking into a probate specialist / solicitor.

Would probably be able to do probate myself but it's how much or if any inheritance tax needs to be paid.

Straight forward will split 50/50 between silblings, house was sold a couple of years back to pay for care home fees.

We just want someone who knows what they are talking about to confirm Y or N in regards to inheritance tax.

What are we looking at for costs of either a probate specialist or a solicitor?

Thank you

I've done it twice myself in the past year, it's actually very straightforward. Tbh you still have to do the information gathering (accounts, loans, savings, debts, property valuation) yourself so you're basically paying a solicitor to fill in a form.

The first step is the HMRC form where you calculate the value of the above and it tells you whether IHT is payable or not.

Is it a complicated estate ? Is it the remaining spouse in a marriage ?

Both parents deceased. Not really complicated but does the house funds still go as property on calculations? I know all savings etc as had control of all accounts under lpa.

No, just as savings.

You can also use unused portion of the first parent's allowance to offset against IHT if necessary

@system2319 this may be helpful https://www.gov.uk/guidance/how-downsizing-selling-or-gifting-a-home-affects-the-additional-inheritance-tax-threshold