personal probate application ..a little help

M

morei

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A bit of advice please....
I am making a personal application to take out probate on my aunt's will. Am executor. She had put me down as joint owner many years ago to lower the inheritance tax bill for me now. I paid gift tax on half the value at the time. In her will she left the house to me and the money to my siblings. Filling in Form CA24 (revenue affadavit) slowly and nervously. Do I tick "survivorship" or "convenience" on that section?
Also, she put my name on one of her bank accounts many years ago. It was just in case she was ever unable to get to bank or manage finances, but thank God that never happened. The only time I did was get out one draft to pay undertakers. The form CA24 asks what date I was put on that account but I can't remember. Does that matter? I presume I mark that joint account as "convenience" as that should be going to the estate with the other savings accounts.
While I'm here, one other question about credit union shares. I was named the beneficiary under a nomination and was able to take out 23,000 which I gave to siblings. Balance of that account goes to estate. Would that 23,000 be officially part of my inheritance or are there exemptions for credit union nominations? (Please say yes.)
Thanks in advance.
 
Hi just a note on the credit union ac
As the nominated benificary of the credit union shares the 23K would go directly to you and does not form part of the estate. The remaining money in your aunts account would form part of the estate and should only be divided up once probate has been taken out.
One should wait until probate is completed to give any beneficaries their share. Technically you have given your share to your siblings not their share if that makes sense.
 
primrose said:
... Technically you have given your share to your siblings not their share if that makes sense.
Click to expand...
It does not have to be construed that way: OP might say that the money was given to the siblings as an advance on their inheritance.
 
Thank you both for reply.
Yes I know it was technically mine as I was the nominee but I felt it would be in the spirit of the will to pass it on. I just hope I don't have to pay tax on that 23 as well as the house value....

I don't understand the bit about OP bit... could you please explain.

Any advice on the questions about filling in the form ??
 
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