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 can set aside money for her using a Discretionary trust, which will not affect her entitlement to state benefits.
Read more Wills & ProbateWhen you act as an Executor you are expected to act reasonably and act in the best interests of the …
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 & ProbateThe intestacy rules would apply to your estate and your partner would receive nothing under these.
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 …
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 & ProbateA Will allows you to specify who you wish your estate to pass to upon your death. If you have …
Read more Wills & ProbateNo, you do not have to act as an Executor. You have a couple of options. Your first option is …
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