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Barclays Wealth has stated that there are people who do not understand the rules surrounding Inheritance Tax, and they have issued a warning about the levy. Barclays Wealth states nearly a third of those asked wrongly believe ISAs are exempt from Inheritance Tax. Similarly, 40 percent believe they will be able to gift money to […]
Read moreThe Queen may face an Inheritance Tax exemption on the Duke of Edinburgh’s estate if he has left his entire estate to the monarch. Married couples can pass their estate to their spouse with an Inheritance tax exemption when they die. This means they can avoid a 40% tax above a £325,000 threshold. An obscure […]
Read moreThe Government announced in their recent ‘Tax Day’ that around 200,000 executors and beneficiaries of estates will no longer have to complete inheritance tax forms because of changes that they have made according to a recent report. This is set to simplify probate, as it will cut the red tape and reduce the paperwork people […]
Read moreHM Revenue and Customs (HMRC) has stated that it will extend the Trust Registration Service (TRS) deadline as they have revealed that the service will not meet the original March 2021 deadline. The Trust registration deadline has been extended to some time in the Summer, according to a report by Today’s Wills and Probate. Last […]
Read moreWhen someone dies, probate must be completed. Probate is the process which allows the executor to legally distribute the Estate of the deceased. The Estate includes everything that the person owned when they died, including property, money and possessions. Probate usually takes between 6 and 12 months, and usually begins when the person’s death certificate […]
Read moreWhen contesting a Will time limits can be strict. For example, you must contest the Will within 6 months of probate. But what happens if there is a coroner’s inquest into a person’s death? Does this coroner’s inquest affect probate? How does a coroner decide to do an inquest? It is common for deaths to […]
Read moreThere has been an increase in younger people making Wills during the pandemic. The average age of Will makers at the start of 2020 was 58, and the Gazette has now reported that the average age of people making Wills is now 47. A recent study showed that millennials are also considering their own lifetime […]
Read moreOne of the most important aspects of a Will is the executor. The executor is responsible for handling your affairs when you die. Their role is important as they have to distribute your estate according to the wishes of your Will. The role of the executor is to handle your estate when you die. They […]
Read moreA common question we get at The Inheritance Experts is ‘can I contest a Will if the person lived abroad?’ The short answer to this is, yes, it is possible. Contesting a Will abroad is possible under certain circumstances. Some of the main circumstances include where the person made their Will, where they lived, and […]
Read moreA Brief Guide to Mirror Wills There are a few different kinds of Will you can make. We recently spoke about trust Wills, and another type of Will you can make is a mirror Will. A mirror Will is commonly used by married and unmarried couples who have similar wishes about where they want their […]
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