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 & ProbateA Will allows you to specify who you wish your estate to pass to upon your death. If you have …
Read more Wills & ProbateNot necessarily. When we receive your Will instructions, we will look at your age and circumstances, and we will write …
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 & ProbateThe answer is No. It is a common misconception that when a person dies their debts die with them. When …
Read more Wills & ProbateThis is the term used to cover everything that needs to be done to deal with an estate. It involves …
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 & ProbateTo make a Will, you have to have capacity to understand what you own, what making a will actually means …
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