This is the term used to cover everything that needs to be done to deal with an estate. It involves establishing the assets and debts of the estate.
The estate’s money or assets are used to pay off any bills or loans that are left (including inheritance tax, funeral costs and the costs of dealing with the estate administration).
Remaining assets are distributed according to the Will. If there is no Will, then the estate gets paid according to the rules that say who inherits in these circumstances (known as the Rules of Intestacy).
The tax affairs of the person who has died will also need to be finalised.
Inheritance tax is charged at the rate of 40% on the value of your estate above the allowances available. The …
Read more Wills & ProbateYou can include gifts of personal belongings in your Will. However, if you would like a more flexible way of …
Read more Wills & ProbatePartners will usually hold their property jointly, this is known as ‘Joint Tenants’. If you hold your property as Joint …
Read more Wills & ProbateSadly arguments do happen. Contact us for advice if someone is questioning: The contents of the Will Whether the Will …
Read more Wills & ProbateYou should both make Wills to ensure a fair division of assets if one of you dies shortly after the …
Read more Wills & ProbateYou are responsible for taking charge of the property, money and belongings. You will be held personally and financially responsible …
Read more Wills & ProbateBoth you and your husband should make Wills. As well as ensuring that you have provided for each other, you …
Read more Wills & ProbateWhen you act as an Executor you are expected to act reasonably and act in the best interests of the …
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