There are many decisions to be made at a time when people may be feeling overwhelmed and fraught. It is not uncommon for executors to fall out during this time, which is the last thing the deceased would have wanted. People may feel that the other executor(s) are not acting in the most beneficial way, […]
On some occasions it may be possible to deal with someone’s estate without needing to apply for probate. When someone dies, the person named as executor in their Will is responsible for collecting in, valuing and distributing their assets. Whether or not that person needs to apply for probate depends on the value of the […]
If someone dies with only modest assets it isn’t always necessary to apply for a Grant of Probate. It is usual for the executor of an estate to apply to the Probate Registry for an official Grant of Probate, the document allowing them to collect in and sell or transfer someone’s assets after their death. […]
If you’ve been left money or a share in someone’s estate, you may be wondering what liabilities you have. Do you need to pay tax on the money, and who is responsible for clearing any debts the deceased may have left? After someone dies, their personal representative is responsible for winding up the estate. It […]
When the owner of a business dies, administering the estate can be a complex affair. A business forms part of a deceased’s estate and can be left under the terms of their Will. However, probate is far more difficult to administer when a business which is a going concern is left. In this event, the […]
Many families will have to pay more in probate fees from April 2019. That’s according to new proposals that see a hike in the cost of applying for probate. The Government has claimed that fees are necessary to fund an effective and fair court and tribunals system. However, under the plans, some grieving relatives will […]
Inheritance tax is a tax that, if due, is payable upon a person’s death. Whether it needs to be paid depends on how much the deceased person’s estate is worth, and who is inheriting. When does inheritance tax need to be paid? If the total value of an estate is over £325,000 (nil rate band), […]