Probate advice at the end of our tether

[probatepurchase]

We are the bottom house in a chain of 3 houses. The owner of the top of the chain has died in April 24, and so we are waiting for probate to be granted. Apparently it's with HMRC to wait for a code to be released and there is talk of an inheritance tax 'cheque'.

The information we have is from the lady we are buying from.

We are going to lose our buyer if we don't complete within 2-3 weeks.

Does anyone understand what the above means and, if our timescale of 2-3 weeks is realistic?

Probate has been applied for and 'expedited'

No idea how quick this will be in reality - any advice please let us know

For us it was 8 weeks.

Still waiting. Applied in Feb.

i chase them and then get an email querying a figure which I sort out.

Chase again a few weeks later … oh one of the forms is a photocopy, we need the original.

If I didn’t chase how long would it take to approach me with these queries 🤷🏼‍♀️🤦‍♀️

My MIL died at the beginning of April and my FIL received probate this week. But it was a straightforward estate. For every one that’s fast, there’ll be two that took months - you can’t rely on it.

I submitted my application in June and Probate was granted 4 weeks later - the email confirmation was sent on a Sunday morning!
The Estate was not subject to IHT, however.
If IHT has been paid already it should be safe to assume that HMRC has accepted the estate valuation within the application (to calculate the amount that was due) so it should be straightforward for the Probate Office to now process the application.

You’ve answered something I was asking myself! Presumably HMRC do a lot of the h assessment and the probate office can take it as read they’ve done a thorough job and this should speed up probate?

How are things going, OP? I hope your health is ok.

If there are errors it will of course take time. Mine came through in 1 week but I was parnoid to get the paperwork right and I had a fab solicitor. There was some inheirtance tax to pay. They say you cannot chase before 16 weeks.

My tip having done this a few times now is make 100% sure the forms are correct.

Yes, I think that is the way it works - until HMRC is satisfied about whether there is any IHT due on the Estate, Probate cannot be granted as the tax man has ‘first dibs’, so to speak.

For HMRC to calculate the liability and exact amount due for payment, the Executor would have submitted valuations of all of the financial assets - i.e. property, possessions, bank accounts, savings and investments, etc. plus money owed to the deceased. They also have to list outstanding debts - i.e. credit cards, unpaid bills, paying back parts of overpaid income, and so on.

Once all the figures are available the forms are straightforward and, as IHT has been paid, that lengthy bit has already been completed by the Executor and all they need is for the Probate Office to issue the Grant. Which is out of the Executor’s control.

I am not qualified in any way, but this is based on my experience of dealing with 2 Probate estates in the last 2 years.

Probate is through! Not sure how fast this means we can move now, apparently the solicitors have done all they need to do on all sides so that we can move,

Buyer on the verge of pulling out if we don't move very very soon

Hooray - what a big relief for you. Fingers crossed your sale goes through quickly from now on!!

@probatepurchase I was coming on to say probate can be quick if straightforward. My DM was 3 weeks.

I am selling DMs former home. The executors now have permission to exchange contracts and complete. They will want to do this as quickly as possible to get the money, They are responsible for paying any IHT due on the estate so getting the money together quickly will matter to them. I don’t have this issue but the solicitors can now go forward and exchange and complete.

Blimey you’ve been lucky, fingers crossed it all goes smoothly from here

Great news, hopefully there shouldn’t be any more hold ups, fingers crossed.

The owner of the house we are suppose to be buying died over a YEAR ago (June 23) and we where only told last week probate still isn't applied for because they are waiting on 3rd parties (whatever that means, they are deliberately vague with info).

When there are complex investments it can easily take a year! It not a house sale that’s holding anything up, it would be complex trusts and investments. They cannot apply for probate if the money has not been identified. Or there are arguments or debts.

We will be exchanging on Monday and completing on 28th August

Cannot believe it

Now to pack!!!

Just to give you some hope, once HMRC issue the code and the application goes in ( takes 10 minutes online but needs to be signed and returned by executors first) the grants are actually coming through within a couple of weeks at the moment.

Sorry just seen your earlier post! Told you it was quick 😊

@housethatbuiltme if the executors can't even agree for whatever reason to complete the paperwork apply for probate then goodness knows how long you'll be waiting for it to be granted. And if probate is borderline for IHT that will take longest as HMRC go through everything with a fine toothcomb.

I'd keep looking at other houses tbh

So glad it is working out for you.
But, aside from where properties were already on the market,
I don't think properties ought to be marketed until probate has been granted. Indeed, I don't see how it is even regarded as legal now, as until probate is granted nobody has inherited. So how can anyone be offering it up for sale?

We are looking but theres is just nothing else available, hoping something will pop up soon.

We got an update for the EA apologizing and saying the sellers are no longer applying for probate because of 'other priorities'. It doesn't even make sense, IHT would have been due 6 months ago.

How can you just decide 1 year on to not apply for probate?

"Other priorities" could be anything! Maybe they're unwell? Sounds dodgy tbh

Have a serious f2f chat with your EA as if he doesn't know what's going on (rather than can't say for confidentiality reasons) then he's prob stringing you along to look good in his "pending" sales targets!

That's the actual application for probate though and took nearly 3 months, this person only died in April and they are at that stage of the process yet

@BlueMongoose An executor can offer it for sake. Money then distributed. That’s what I have done and it’s normal. Private took a few weeks but I had everything in order. If several people are inheriting, they get money, not a house.