You are responsible for taking charge of the property, money and belongings. You will be held personally and financially responsible if the estate suffers any loss.
You will have to find out what the assets are and where they are kept. You also have to get final figures for debts.
You will use the estate’s assets to pay off any debts, taxes, funeral costs and other estate administration costs. Finally, you will have to make sure that the people who inherit items receive the right amount or money or the right assets.
Inheritance tax is charged at the rate of 40% on the value of your estate above the allowances available. The …
Read more Wills & ProbateTo make a Will you must be over the minimum age limit and have “testamentary capacity”. This means you must …
Read more Wills & ProbateUp to 4 executors can act at a time. At least two executors are needed if their might be a …
Read more Wills & ProbateTypically there are three stages to the process: Collecting the information and preparing the detailed list of assets, liabilities and …
Read more Wills & ProbateNo. A Will should reflect your circumstances as they are now, not what they might be in the future. You …
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 & ProbateGenerally, if you own land, property or any other asset in a foreign country, you should have a Will prepared …
Read more Wills & ProbateIf you don’t have a Will when you die, the law will decide how your estate is distributed. This is …
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