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.
To make a Will you must be over the minimum age limit and have “testamentary capacity”. This means you must …
Read more Wills & ProbateInheritance tax is charged at the rate of 40% on the value of your estate above the allowances available. The …
Read more Wills & ProbateIf you don’t have a Will when you die, the law will decide how your estate is distributed. This is …
Read more Wills & ProbateYou should record your contribution and the way in which you would like the future proceeds of sale to be …
Read more Wills & ProbateYou can appoint one or more relatives or close friends to act as guardians and assume parental responsibility. Always discuss …
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 & ProbateA Will can be cancelled simply by creating a new Will which states that all previous Wills are revoked. Your …
Read more Wills & ProbateYes. You and your spouse/civil partner can make separate Wills. We offer both Single Will and Mirror Wills options. The …
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