The 7-year rule only applies to liability for Inheritance Tax (IHT).

If your total estate at death is valued at more than the Nil Rate Band (NRB)*, there will be Inheritance Tax (IHT) of 40% due on the remaining amount.

Read more ... →

I’m sure you heard of the recent deaths of high profile figures – Terry Wogan, Frank Finlay, David Bowie and Alan Rickman. There are also many other people who die every day, and this has a huge impact on their family and friends, even if it doesn’t make the headlines. But what happens next?

Read more ... →

Administering an estate after someone has died is also known as dealing with Probate.

If there is a Will, there will be an executor named who will be responsible for administering an estate for someone who has died. If there is no Will, or no executor, then there are rules about which family members will need to deal with this, and the process can be more complicated.

What does an Executor do?

The moment the Testator dies, the role of the Executor(s) begins and these are just some of the very important initial duties:

 

Read more ... →