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I would just like to say
- Thread starter Hippo
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- 47,700
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Middle dottir and husband hardly ever go on holiday.Ive seen someone in pain with kidney stones wasnt nice. Best wishes matey.
A while back they went to Venice,
Oops made yet another typo, meant "second", don't want any more angry faces.
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- 17,771
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- Benfleet, Essex
I am happy to say that Wifey & I visited the banks we could not get to acknowledge her existence today and all accounts are in the process of being closed. The most difficult one was TSB (who WE bank with) and so we went through a whole rigmarole for the sum of <£150 in the old gal's dormant account with them.
So that parts is all done. Now we move on to try and get probate initiated.
Here's a conundrum; part of the determination whether you need probate or not is the complexity and value of the estate.
Liquid assets the old gal had were <£50k and the domestic chattels are just scrap. The house is seen by the land registry as being worth 500k BUT, it is falling down and has already had 2 goes at being underpinned and is still cracking up and really is only worth the value of the plot for a redevelopment. So what do we say to HMRC/Probate peeps?
My view is that we get a local estate agent to value the place (as is) with the knowledge that it is blighted and then get a surveyor to write a report stating it is structurally unsound.
So that parts is all done. Now we move on to try and get probate initiated.
Here's a conundrum; part of the determination whether you need probate or not is the complexity and value of the estate.
Liquid assets the old gal had were <£50k and the domestic chattels are just scrap. The house is seen by the land registry as being worth 500k BUT, it is falling down and has already had 2 goes at being underpinned and is still cracking up and really is only worth the value of the plot for a redevelopment. So what do we say to HMRC/Probate peeps?
My view is that we get a local estate agent to value the place (as is) with the knowledge that it is blighted and then get a surveyor to write a report stating it is structurally unsound.
Stone56
Well-Known Member
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That's the way to go , definitely a structural engineers report before the evaluation,I am happy to say that Wifey & I visited the banks we could not get to acknowledge her existence today and all accounts are in the process of being closed. The most difficult one was TSB (who WE bank with) and so we went through a whole rigmarole for the sum of <£150 in the old gal's dormant account with them.
So that parts is all done. Now we move on to try and get probate initiated.
Here's a conundrum; part of the determination whether you need probate or not is the complexity and value of the estate.
Liquid assets the old gal had were <£50k and the domestic chattels are just scrap. The house is seen by the land registry as being worth 500k BUT, it is falling down and has already had 2 goes at being underpinned and is still cracking up and really is only worth the value of the plot for a redevelopment. So what do we say to HMRC/Probate peeps?
My view is that we get a local estate agent to value the place (as is) with the knowledge that it is blighted and then get a surveyor to write a report stating it is structurally unsound.
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- uk
I did look into this a couple of years ago for me n 'er indoors. Can't remember the exact details, regarding joint estates and tax which may need to be paid. I think as a married couple each has an upper limit and then inheritance tax has to be paid, but the survivor of the couple inherits the dead partner's allowance. So a £500k house can be passed on by the survivor without any inheritance tax. Also inheritance tax can be avoided if the house is left to children and / or grandchildren. So my first suggestion is to get this aspect clarified (my memory ain't that good on this).
On the structural report, I would not get it declared structurally unsound as this might undermine the value excessively. Rather get an accurate condition report, stating what repairs are advisable. That way the property might avoid being considered to be blighted.
I'll do a search and see if I can find the info on joint estates, think it was a gov site.
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Found it. Memory not so bad after all
www.gov.uk
How Inheritance Tax works: thresholds, rules and allowances
Inheritance Tax (IHT) is paid when a person's estate is worth more than £325,000 when they die - exemptions, passing on property. Sometimes known as death duties.
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- 24,364
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- In the next Glen
- Posts
- 24,364
- Location
- In the next Glen
Im clearing out my shed well more like a barn than a shed. Sold my running machine & rowing machine. Got a big multigym
to go plus a load of wood working tools all 240v bobbin sander bench grinders pillar drills, scroll saw plus a couple of older
mac tool boxes ect Im turning my barn into a pub
to go plus a load of wood working tools all 240v bobbin sander bench grinders pillar drills, scroll saw plus a couple of older
mac tool boxes ect Im turning my barn into a pub
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I had one of those but it sank first time out
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- In the next Glen
I had one of those but it sank first time out
For some reason this came into my head..... My mate sold a boat & trailer to a lad who came via the ferry as a foot passenger, he told my mate to launch the boat with the trailer ratchet strapped onto it & off he went
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