How to avoid the probate pitfalls A look at the steps to take in England and Wales (the process differs in Scotland and Northern Ireland). Step 1 – Value the estate to see if you need a grant of representation. When you might not need a grant of representation A grant may not be needed […]

Getting started: what you need to know Probate (or confirmation in Scotland) is the system you go through if youíre handling the estate of someone whoís died. It gives you the legal right to distribute the estate according to the deceasedís wishes. Inheritance Tax forms are part of the process even if the estate doesnít […]

Financial prudence It’ll take longer to sort out your affairs if you don’t have a will Itís easy to put off making a will. But if you die without one, your assets may be distributed according to the law rather than your wishes. This could mean that your spouse receives less, or that the money […]

Make sure everything you own goes where you want it to tax-efficiently Planning your finances in advance should help you ensure that when you die everything you own goes where you want it to. Making a will is the first step in ensuring that your estate is shared out exactly as you want it to […]

Could you be liable to pay Inheritance Tax? If you owned property jointly as joint tenants with the deceased and you werenít their spouse or registered civil partner, youíll have to pay any Inheritance Tax due on the property when you inherit it. If you owned property jointly as tenants in common with the deceased […]

Responsibility for paying Inheritance Tax To arrive at the amount payable when valuing a deceased personís estate, you need to include assets (property, possessions and money) they owned at their death and certain assets they gave away during the seven years before they died. The valuation must accurately reflect what those assets would reasonably receive […]

Transferring assets can seriously improve your wealth Current rules mean that the survivor of a marriage or registered civil partnership can benefit from up to double the Inheritance Tax threshold – £650,000 in the current tax year, in addition to the entitlement to the full spouse relief. Inheritance Tax is only paid if the taxable […]

We can help you evaluate the size of your estate We can help you evaluate the size of your estate – which could include assets such as property, pensions, shares and personal property – and identify the opportunities that will help you avoid or reduce the amount of Inheritance Tax your family will have to […]

Passing on assets without having to pay Inheritance Tax A good estate planning and protection strategy can provide you and your family peace of mind that provisions are set in place for the disposal of your estate upon your death, securing your assets for the benefit of your heirs. Many people are surprised at how […]

Will your legacy involve just leaving a large Inheritance Tax bill for your loved ones? In order to protect your family and business, it is essential to have provisions in place after you’re gone. The easiest way to prevent unnecessary tax payments such as Inheritance Tax is to organise your tax affairs by obtaining professional […]