Deceased held investment with company based in Channel islands

[leela]

I will shortly be doing probate for my late mother. We find that she had an investment in a Stirling Mortimer Land fund, which is being managed by a company in Guernsey. It is basically a dud, and is closed-ended, so we cannot get any value for it until the land is sold (which is frankly, unlikely to ever happen). She invested £50,000 about 14 years ago, but of course that will never be realised.
So where does it fit into probate? Does the Guernsey connection add complications?
I've spoken to the company today, and they can transfer it into a beneficiary's name, but that's all.

[PallasAthena]

If your late mother was domiciled and resident in the UK when she died than all assets are taken into account in valuing her estate and in calculating IHT including foreign assets held outside the UK. For IHT purposes Guernsey is 'foreign'. There's a separate IHT form for listing foreign assets. I can't remember which form but if you call the HMRC IHT general helpline they can tell you.

Inheritance Tax: general enquiries - GOV.UK (www.gov.uk)

There's no particular complication about it being in Guernsey, the complication is more about how you value the investment for IHT. Best to ask HMRC for advice.

[leela]

There'll be no IHT to pay, so that's not an issue. I just don't know how it works regarding probate. Though I've not seen the probate forms yet, so I don't know how they work for this kind of investment. Presumably they do need me to put a value to the investment though?

[PallasAthena]

Sorry, I have no idea how you would value a fund like that for probate purposes. I can only suggest you speak to HMRC.