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Where Taxpayers and Advisers Meet

Extra assets popping up after grant of probate

FJM86
Posts:1
Joined:Sun Jul 10, 2022 7:20 pm
Extra assets popping up after grant of probate

Postby FJM86 » Sun Jul 10, 2022 7:26 pm

Hi guys. I have tried using the search function but not sure I could find a close enough match to my dad’s current problem:

My mum passed away in 2020. My dad inherited her half of the family home and I helped him apply for probate to manage my mums fairly simple estate (bank accounts mostly). It’s since transpired two years later that my mum owned 50% of a relatives house. We knew she was a “guarantor” but didn’t realise she was on the title (yes poor communication about money matters but hey ho). I’m at a bit of a loss about what to do now. The relative wants to remortgage on their half of the property but to do that my dad must take over half of the title as per the will.

Is it possible to still apply ourselves for a change of probate, or new IHT without needing a solicitor? I can find no info on gov.uk about changing a deed, and second grants seem to be related to executors passing away or falling out… thanks for any help or points in the right direction

Fraser

AGoodman
Posts:1738
Joined:Fri May 16, 2014 3:47 pm

Re: Extra assets popping up after grant of probate

Postby AGoodman » Mon Jul 25, 2022 11:17 am

You don't need another grant - you already have a perfectly good one.

There's no IHT to pay as it will be exempt, assuming your parents were married. If the estate was an excepted estate, and still would be with the additional assets, there is nothing more to do. If you had to file an IHT400 the first time, file a C4 corrective. If the estate was excepted but no longer is (e.g. because the estate is now over £1m), I'm afraid you will need to file an IHT400.

The property can be transferred into the proper names, (e.g. your father and relative) by a solicitor - you can't do it yourself as the solicitor also has to protect the rights of the lender (mortgagee). If you are changing lender, it can probably be done as part of this process - in fact it may have to be done this way.

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

Re: Extra assets popping up after grant of probate

Postby maths » Tue Jul 26, 2022 1:30 pm

If mother's will provided for her half of relative's property to be left to her husband (ie your dad) then why wasn't it recognised when probate was obtained and the title duly amended?

AGoodman
Posts:1738
Joined:Fri May 16, 2014 3:47 pm

Re: Extra assets popping up after grant of probate

Postby AGoodman » Thu Jul 28, 2022 2:25 pm

maths - I assume mother's will just left everything to her husband, rather than naming the property specifically

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

Re: Extra assets popping up after grant of probate

Postby maths » Thu Jul 28, 2022 4:40 pm

AG- good point !!


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