Can anyone help with the following please?
There is a 6-year gap between the time of the deceased’s death and the personal application for Probate. The application form requires-
‘Reasonable own estimate of value now.’
‘If deceased died more than 1 year ago give own reasonable estimate of value at date of death also.’
On which of the values will any liability for CAT be assessed?
On which of the values is the Probate fee calculated?
If the property were to be sold what are the possible implications for CGT where it’s been the beneficiary’s family home for years before the deceased’s death, and since?
Are there any other general aspects that need to be considered in a case like this?
Many thanks.
There is a 6-year gap between the time of the deceased’s death and the personal application for Probate. The application form requires-
‘Reasonable own estimate of value now.’
‘If deceased died more than 1 year ago give own reasonable estimate of value at date of death also.’
On which of the values will any liability for CAT be assessed?
On which of the values is the Probate fee calculated?
If the property were to be sold what are the possible implications for CGT where it’s been the beneficiary’s family home for years before the deceased’s death, and since?
Are there any other general aspects that need to be considered in a case like this?
Many thanks.