In times past an estate meant everything under the control of a noble, even the village and church buildings. Nowadays it includes the deceased’s personal possessions, money, investments, and everything else they own. Dealing with the affairs of a deceased person … [Read more...]
How to Calculate UK Inheritance Tax Correctly
Inheritance tax is a toll the UK government levies on deceased estates within its ambit. An executor, or another responsible person is legally obliged to make a full and honest account. Should they fail to do so, and the government is out of pocket then it could hold … [Read more...]
Why Accurate Estate Accounts are Essential for Executors
Executors should manage deceased estates as custodians, and implement wills as written regardless of own opinion. That’s because tempers may flare over contentious issues and arguments can become personal. The executor must make detailed notes of money coming in, and … [Read more...]
Inheritance Tax in the United Kingdom – A Snapshot
Inheritance tax in the United Kingdom is a levy on someone who inherits from a deceased estate. The UK government deducts it from the estate itself before the proceeds can be distributed. If this is not practical, it may be willing to negotiate. A Brief History of … [Read more...]
My Uncle Left Me £150,000 Can I Demand It Right Away?
Unfortunately you can’t walk into the solicitor’s office, and demand what many people mistakenly believe is their right. Your £150,000 will remain in your uncle’s estate until his will is wound up, and this can take a while. As beneficiary, you have a potential right … [Read more...]
How to Apply for a Grant of Probate on Your Own
Even if a person quite close you passes on, you may still need government permission before you dive in, empty their house, and share out their possessions. That because the administration wants to see fair play. You probably need to get a Grant of Probate, even if … [Read more...]
How Much Can I Expect my Estate to Pay for Probate?
The government funds the national administration, and all its services from the tax it collects. There never seems to be enough money to go around. Therefore it takes a final bite out of most estates in the form of probate fees, and inheritance taxes. INHERITANCE … [Read more...]
I Inherited a House What Happens Next?
Well, you could do one of three things by the law of averages. You could live in it, rent it, or sell it and realise the value. However, in reality things are seldom that simple, especially if the house is in the United Kingdom because there are variations on these … [Read more...]
New Probate Fee System Draws Fire From Across the Board
New Probate Fee System Draws Fire From Across the Board The new hike in the probate fees system, which is set to raise probate fees to as high as £6,000, has drawn heavy criticism from numerous quarters. Some critics have claimed the move is an abuse of … [Read more...]
How Do I Value Items In A House For Probate
The Problems Executors Face When Valuing Chattels And Assets An increasing problem for executors dealing with an estate is the valuation of chattels ie: the assets of the deceased. ‘Chattels’ in probate terms are the everyday belongings which can be furniture, … [Read more...]
