Probate tax question

[Dagman]

Hi Ab'ers, we are in the process of applying for grant of probate after the death of my wife's father (widower). A will was made out, my wife as executor left to deal with distributing assets (no property) among his family . As executors, are we really supposed to go to the deceased's bank and find out how much interest and taxes were made since 6th April and put it on the application? The assets are over £50,000. Seems a farce! Surely they would be added/deducted automatically, looks like has the past bank statements. So why do we need to find out for the form? Thanks...D

[quizman55]

You will need to complete the Probate form in its entirety, otherwise Probate will not be granted, and the financial institutions will not release the funds in the accounts without a Grant of Probate

[woofgang]

If you have the information from another source then you don't have to go to the bank to get the info again but you will need to get it. The base purpose of probate (and the alternate processes that you have to go through if probate is not required) is to ensure that all taxes etcet owing to the government by the deceased have been paid.

[Dagman]

Thanks for your replies. Looks like we'll be busy!

[ubasses]

You may even get a nice surprise like we did and receive a tax refund when my MIL died.