A solicitor can help you with probate in several ways, including: Advising on the probate process A solicitor can advise you on the legal process of obtaining probate, including the requirements and procedures for obtaining a grant of probate or letters of administration, as well as any legal formalities that must be followed. Gathering and submitting the necessary documents A […]
How can a solicitor help me with probate?
How do I pay inheritance tax in the UK?
In the United Kingdom, inheritance tax is typically paid on the value of an estate (which includes assets such as property, money, and possessions) when someone dies. The tax rate is currently set at 40% on the value of the estate above the inheritance tax threshold, which is currently £325,000. Here are the general steps for paying inheritance tax in […]
How to obtain a Grant of Probate or Letters of Administration
After a death, it is often necessary to obtain a Grant of Probate or a Grant of Letters of Administration. This is the document that gives the deceased’s personal representatives legal authority to deal with their affairs and wind up their estate. If the deceased left a Will, it will name executors. These are the people who are responsible for […]
Can I Sell the Deceased’s Property to Pay Inheritance Tax?
Paying Inheritance tax (IHT) is not always a straightforward matter, particularly if the amount due is more than you, the executor, have available to pay. If the estate left in the will is more than £325,000, then 40% of any amount over this threshold will need to be paid to HMRC. It doesn’t matter whether the estate is property only, […]
UK Ministry of Justice Proposed Increase in Probate Fees Scrapped
Some people may be wondering why they haven’t heard any more about the proposed rise in probate fees which was part of the Government’s plans to increase revenue for the Ministry of Justice by £185m annually. This should have taken place last April but the Brexit impasse appears to have held up the decision. Just recently, the British government has […]
How to Escape Inheritance Tax the Legal Way
What is inheritance tax? Inheritance tax was first introduced in 1986. It is a tax that needs to be paid on the property or cash of some people after they die. Currently, the rate is set at 40 percent of all assets that exceed £325,000, so it really only applies to those who leave significant wealth behind when they die. […]
Choosing an Executor to Administer Your Will
The person who sorts out your property when you die and carries out the instructions in your Will is called your executor. It is preferable that you appoint an executor in your Will as it makes it easier to finalise your Will after you die. There are no restrictions on who you choose to do the job, but it is […]