Probate Estate Valuation

[Guest]

I’m hoping for some advice please.
My late Father died in 2016 and Mother in 2019
They had separate Wills, my Fathers leaving his half of the Estate to My Mother (now deceased) Myself one sister and a brother. Both Myself and Sister are Executors. (also beneficiary’s)
My Mother left her half of the Estate to me (she excluded all other siblings) I was sole executor,
I am in receipt of the Grant of Probate for my Mother’s Estate.
The plan is to sell the Property.
Probate for my Fathers Estate is still in the hands of the Solicitor and not yet applied for due to disagreements between one beneficiary and my sister (executor)
unfortunately my Mother was not advised
that she could have applied for Probate for my Father after he died and she was alive which would have made this process much easier.
My question is about the value of my Fathers Estate, and how the Estate will be divided.
Is the value of the property at the time of my Fathers death 2016 the amount that will be shared between the Beneficiaries or will the value of the Estate be determined by the increased Housing Market of 2022 ?

[dslippy]

The estate is valued as at death for immediate probate questions. Adjustments in value take place as assets are realised. The adjustments affect tax payable and the distribution of te estate in due course. Distributions are based upon the values realised.

[Sam101]

ROMA123, I see that you are still trying to sort this out from your previous post in July 2020

You still have a problem regarding any distribution as without Probate on your Father's estate in 2016, his Will passing on his estate is not proved and therefore is not seen as being past to anyone as yet.

Unfortunately family disagreements can cost the estate and the beneficiaries a great deal of money and the only ones to benefit are the solicitors with their ever increasing costs which they are pleased to tot up as long as this goes on..

The problem needs to be sorted out and beneficiaries are at liberty to apply to the Courts in order to progress this matter. That needs to be done before there is anything to pass on to others.

Additionally, although the value of your fathers estate is deemed to be that at the date of his death, any increased value from then would be subject to capital Gains Tax. Same applies to the value of your Mothers estate.

As the delay has been caused by ? then they may be liable for losses that the estate incurs but you would need to clarify this with your own solicitors, but try and get it sorted out as you are all loosing at present.

[Guest]

After all this time we seem to be near to Executor and beneficiary agreeing on the previous issues which have blocked the grant of Probate being issued.
The estate is below the capital gains threshold and again I am asking once again for some clarification that the advice I was given yesterday in relation to the value of my Late Father estate, The Solicitor has said it's fairer that the estate which is a property, only should be valued at todays property price and not at the time of death in 2016,