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Understanding Inheritance Tax in the UK: Key Considerations

on 27-Jun-2024 16:41:02 By | Kings Court Trust |
Inheritance Tax (IHT) is a significant concern for many families in the UK. With frozen thresholds and increasing property values, more estates are subject to this tax. This blog explores the essentials of IHT and offers insights into mitigating its impact. While we are experts in estate administration, we do not provide financial advice. Our goal is to assist you with the probate process and estate administration.
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When is probate required? UK financial institution thresholds

on 25-Jun-2024 15:52:51 By | Charlotte Toogood |
When someone passes away, probate may be required before their assets can be dealt with. This blog discusses what probate is, when is probate required, and what are some of the UK financial institution thresholds.
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Can probate fees be paid from the estate?

on 25-Jun-2024 15:51:49 By | Charlotte Toogood |
When dealing with the death of a loved one, many Executors find themselves worrying about the costs of administering the estate and how fees can be paid. Acting as an Executor or Administrator is not a paid role, and it’s common to feel concerned that it may leave you out of pocket. In this blog, we’ll cover what probate is and whether probate (and other fees) can be paid out of the estate.
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Grant on credit

on 05-Jun-2024 15:53:45 By | Lee Rossiter |
In certain circumstances, HMRC will allow a Personal Representative to postpone payment of all or part of the tax and interest due on delivery of an account. This is referred to as a Grant on credit.
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How difficult is it to do probate yourself?

on 30-May-2024 09:15:00 By | Nigel Merchant |
Probate is the process of obtaining a Grant of Probate, which is the legal document that an Executor may have to obtain in order to administer the estate of someone who has passed away. Many people choose to instruct a professional to apply for probate on their behalf, as it involves complicated processes, a lot of paperwork, and legal knowledge.
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What is a Grant of Representation?

on 01-May-2024 11:20:00 By | Nigel Merchant |
A Grant of Representation is a legal document issued in the United Kingdom that gives the person named on it the authority to administer the estate and other assets of a deceased person. In simple terms, it is a document that proves that the person handling the deceased's assets has the legal right to do so.
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What is the purpose of a Will?

on 26-Apr-2024 14:07:00 By | Nigel Merchant |
Many adults in the UK do not have a valid Will. They may have a Letter of Wishes or documented their requests in other ways, but a Will must be formally witnessed and signed in order to make it legally valid. Whilst you can make a Will yourself, it is strongly advised you discuss your circumstances with a professional to ensure you are considering all your needs. Additionally, a professional Will Writer will have the facilities to store your Will securely, which ensures that it is easily accessible upon your death.
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What are the duties of an Executor of a Will?

on 25-Apr-2024 15:30:00 By | Nigel Merchant |
In the UK, the Executor of a Willis responsible for managing the estate of a deceased person, paying any debts and taxes, and distributing the remaining assets according to the terms of the Will. The specific duties of an Executor may include:
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How to find a Will and other important documents

on 03-Apr-2024 10:49:00 By | Nigel Merchant |
A step that often causes family members additional stress and anxiety when someone dies is locating the deceased’s important documents. This includes the Will, which details the Testator’s wishes regarding how they want their estate to be distributed. Unfortunately, locating a Will and other important documents can sometimes be a difficult and time-consuming process for loved ones coming to terms with a death. This blog answers frequently asked questions about locating the Will to help you navigate this stressful time. The blog explores how to find a Will, what happens if you can’t find a Will, and the benefits of storing estate planning documents with a professional storage provider.
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