Tweet
Good evening all,
I am currently in the unfortunate position of having both grandparents die within 2 weeks of each other and need some advice as to the complications of the situation.
Firstly a bit of info about my position so far..
My grandfather died first, then my grandmother just under 3 weeks later in July this year.
Their will was made leaving one another the estate upon death, and myself and my uncle having an equal share on the estate once both have passed away. My grandfather is not by blood, technically he is my step grandfather and stepfather to my uncle. But having been married to my grandmother for 50+ years you can understand that he is not considered a step relative by us, but I guess this is different in the eyes of the law?
My uncle is named as executor, but he is not confident with the paperwork and really is not confident carrying out any of the proceedings with probate etc.
I have some experience with probate, I handled my late father's who dies intestate and applied for letters of administration. But I was the only beneficiary therefore it was a relatively simple process. Should proceedings and handling of the estate be fairly straightforward, myself and uncle are happy for me to do the paperwork and him to sign at the end.
The estate consists of around £90k in accounts for my grandmother, and £110k for my grandfather. The property was mortgage free and valued at £260k giving a total of £460k. From my research this would be just under IHT threshold as the property is passing to a close blood relative?
So as for my needing advice: What would I need to apply for at probate? 2 separate grants for dealing with each grandparents accounts etc? Then liquidising the assets into one executor account?
Any advice will be hugely appreciated, I can't seem to find a similar scenario to use as a guide to the process from start to finish.
Many thanks, Adam
I am currently in the unfortunate position of having both grandparents die within 2 weeks of each other and need some advice as to the complications of the situation.
Firstly a bit of info about my position so far..
My grandfather died first, then my grandmother just under 3 weeks later in July this year.
Their will was made leaving one another the estate upon death, and myself and my uncle having an equal share on the estate once both have passed away. My grandfather is not by blood, technically he is my step grandfather and stepfather to my uncle. But having been married to my grandmother for 50+ years you can understand that he is not considered a step relative by us, but I guess this is different in the eyes of the law?
My uncle is named as executor, but he is not confident with the paperwork and really is not confident carrying out any of the proceedings with probate etc.
I have some experience with probate, I handled my late father's who dies intestate and applied for letters of administration. But I was the only beneficiary therefore it was a relatively simple process. Should proceedings and handling of the estate be fairly straightforward, myself and uncle are happy for me to do the paperwork and him to sign at the end.
The estate consists of around £90k in accounts for my grandmother, and £110k for my grandfather. The property was mortgage free and valued at £260k giving a total of £460k. From my research this would be just under IHT threshold as the property is passing to a close blood relative?
So as for my needing advice: What would I need to apply for at probate? 2 separate grants for dealing with each grandparents accounts etc? Then liquidising the assets into one executor account?
Any advice will be hugely appreciated, I can't seem to find a similar scenario to use as a guide to the process from start to finish.
Many thanks, Adam
