This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Executor's respomsibility

jayhay
Posts:20
Joined:Tue Jun 23, 2009 8:46 pm
Executor's respomsibility

Postby jayhay » Wed Feb 19, 2020 3:54 pm

My father has recently died and I am his executer. His entire estate has been left to his widow (my mother).

As there can no taxes involved on an estate left entirely to a surviving spouse, is there any shortened or abridged probate procedure I can adopt as executor; or must I comply with the customary submittal of the time consuming and demanding routine probate documentation

AGoodman
Posts:1745
Joined:Fri May 16, 2014 3:47 pm

Re: Executor's respomsibility

Postby AGoodman » Wed Feb 19, 2020 4:57 pm

You only need probate if you need to prove title to assets - i.e. it won't be necessary to put joint property (including land/buildings and bank accounts) into the sole name of your mother. Many banks will also release smaller bank balances without a grant.

If you do need probate because an asset was in your father's sole name, there is a (much) shorter form which applies to most IHT free estates - IHT205.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Executor's respomsibility

Postby maths » Wed Feb 19, 2020 7:48 pm

What are the major assets and their values which were in father's name only?

jayhay
Posts:20
Joined:Tue Jun 23, 2009 8:46 pm

Re: Executor's respomsibility

Postby jayhay » Thu Feb 20, 2020 5:01 pm

Thank you for your interest

There is in excess of £650,000 in the deceased's sole name, In broad terms:

Property (Buy to let) £375,000
Cash iSA £100,000
equities £250,000
Cash £ 40,000

AGoodman
Posts:1745
Joined:Fri May 16, 2014 3:47 pm

Re: Executor's respomsibility

Postby AGoodman » Thu Feb 20, 2020 5:18 pm

You will need to complete the IHT205 and I'm afraid the probate application process is the same.

One caveat, as an applicant in person, you may be able to use the online probate application process, avoiding the need to visit a registry. It has its limitations, not least some bugs and the need to send documents by post, but is worth exploring - not least because the Registries appear to be degrading their regular process.


Return to “Inheritance Tax, IHT, Trusts & Estates, Capital Taxes”