You shouldn’t be afraid of giving your loved one’s gifts, you don’t immediately incur inheritance tax when you make a gift whilst you’re alive.
Not every gift you give in your lifetime is going to be subject to inheritance tax.
Not every estate has to pay inheritance tax. It depends on the value of the estate and whether additional tax allowances can be applied.
As an executor it’s important to establish all and any debts connected to the estate.
A probate valuation is used for probate and Inheritance tax calculations in order to correctly asses the estates tax liabilities.
A Deed of Variation is a document that allows the beneficiary/beneficiaries of an estate to alter the distribution of a deceased’s assets after their death.
If the Estate is straightforward, you may not need to use a probate provider to obtain Probate.
You must be aware that every Estate is different and will require a different amount of time and work to administer.
One of the questions we get asked most often as a probate broker is how long does probate take?