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.
You should record your contribution and the way in which you would like the future proceeds of sale to be …
Read more Wills & ProbateIf the estate is valued at more than the nil rate band then the estate will usually have to pay …
Read more Wills & ProbateNo, you do not have to act as an Executor. You have a couple of options. Your first option is …
Read more Wills & ProbateYes, the solicitor is allowed to charge reasonable costs for acting as an executor. The usual charges are between 1½ …
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 & ProbateThere are several options for protecting your children’s inheritance if you die before your spouse/civil partner/partner. The choice can depend …
Read more Wills & ProbateIf you cannot find a Will in any of the paperwork at the property, you should speak to other family …
Read more Wills & ProbateTo make a Will you must be over the minimum age limit and have “testamentary capacity”. This means you must …
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