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.
Consider giving your wife a lifetime right to benefit from your estate. This will enable her to carry on living …
Read more Wills & ProbateGenerally, if you own land, property or any other asset in a foreign country, you should have a Will prepared …
Read more Wills & ProbateWhat happens to property abroad when you die depends on the law of the country where it is located. In …
Read more Wills & ProbateA personal representative is simply another name for someone who is an Executor or if there is no Will, is …
Read more Wills & ProbateTo make a Will, you have to have capacity to understand what you own, what making a will actually means …
Read more Wills & ProbateYes. You and your spouse/civil partner can make separate Wills. We offer both Single Will and Mirror Wills options. The …
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 & ProbateAn executor is the person who has to deal with the deceased’s estate. Responsibilities include: paying of the deceased’s debts …
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