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Probate: Do you have to do a detailed valuation if no inheritance tax?

30 replies

Ankleblisters · 26/05/2025 09:30

As per title, if the estate is passing in full directly from one spouse to the other and won't be subject to inheritance tax, is a full, detailed valuation of the estate needed or is a rough estimate okay?

Asking this on my father's behalf. My mother recently died (very unexpected and we are all still in shock). He is currently dealing with probate and the form asks for a valuation of her property. Much of it was joint but she also had accounts and property in her own name. None of this is subject to inheritance tax as it is all passing directly to her husband so exempt from inheritance tax. In this case, how exact and detailed does this valuation need to be?

He has informally asked a solicitor we know but can't seem to find a straightforward answer.

OP posts:
Frankley · 29/05/2025 23:03

Onlyfortodaysfun thank you for your comments, l will check that out. But l believe it was done exactly as a solicitor woujd have done it on exactly the same forms and no restrictions apply or were mentioned. But l will have a look at paperwork from Land Registry in the morning to check.
I had always dealt with our finances so had it all pretty well to hand when l did the probate form. When I'd completed it l showed it to a relative who said it was rather like doing an income tax form. I've never had to do one so don't know.
It was perhaps an odd thing for me to do, just after my husband died, but l found it gave me something positive to concentrate on and something else to think about.

godmum56 · 29/05/2025 23:05

Frankley · 29/05/2025 23:03

Onlyfortodaysfun thank you for your comments, l will check that out. But l believe it was done exactly as a solicitor woujd have done it on exactly the same forms and no restrictions apply or were mentioned. But l will have a look at paperwork from Land Registry in the morning to check.
I had always dealt with our finances so had it all pretty well to hand when l did the probate form. When I'd completed it l showed it to a relative who said it was rather like doing an income tax form. I've never had to do one so don't know.
It was perhaps an odd thing for me to do, just after my husband died, but l found it gave me something positive to concentrate on and something else to think about.

same here. The paperwork was kind of a lifeline because it stopped me thinking.

Nat6999 · 30/05/2025 06:28

When my dad died we just filled in an online form for the land registry to get my dad's name removed from the title deeds. We didn't need a valuation or anything. We took a copy of his death certificate to the banks & got his name removed from the joint accounts & his ISA in his sole name transfered into my mum's one. Banks have a bereavement department you can speak to for advice, the Land Registry were also very helpful. Get several copies of the death certificate so you can send them to banks, insurance companies if needed. Don't forget to get your mum's name removed from things like utility companies etc. Did you use the Tell us once service when you registered her death, that works very well, they sort things like the Electoral Roll, the DWP, Council Tax etc. Don't forget to register him for the single person discount for Council Tax.

Ankleblisters · 30/05/2025 11:10

Thanks everyone. We did use Tell Us Once - that's how we remembered that the car was in her name as we suddenly got a refund on the vehicle tax and couldn't use the car for a day or two while we sorted out change of ownership and re-taxed it.
I've forwarded to him the info on Joint Tenants vs Tenants in Common - it seems very likely that they are Joint Tenants. My Mum was extremely savvy about this kind of thing back in the day so I'm sure she will have gone with the Joint Tenants option.
Now the only thing is the Land Registry and sorting it out with banks. We have to do a trip to Nationwide once probate is through (Mum was a could of thousand over their probate limit). My Dad has a financial adviser friend visiting us next week so we'll sit down and talk together about anything else that needs to be ironed out.

Unfortunately Dad isn't eligible for the single person's discount on Council Tax because I moved in with them five years ago to care for Mum (it was a very sudden death, we thought we'd have her for years longer, but she had young onset dementia). Now that she's gone, I don't want to leave him all on his own at least for a while.

OP posts:
Ankleblisters · 30/05/2025 11:11

I agree that the paperwork is a lifeline though, I think the grief hasn't hit us yet as we've both been very busy with our jobs as well as funeral planning and 'sadmin'

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