The High Court has provided some useful guidelines on what is required for a person’s statements to be legally classed as ‘deathbed gifts’ in inheritance cases. The court was asked to determine the proper distribution of the estate of a married couple. The wife died in January 2019 of cancer and the husband died of
Probate is the process by which a person’s estate is administered after they die. It is usually carried out by a spouse, a son or daughter or a close relative with the help of a solicitor. It’s a very important role because everything must be done according to the law and in accordance with the wishes of the deceased.
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There are several factors to consider such as did the deceased make a will. There are slightly different approaches depending on whether there is a will.
In most cases, probate or letters of administration will be needed unless the estate is worth less than £15,000 or if it’s jointly owned and passing to a spouse. Your solicitor will be able to advise.
As well as ensuring the deceased’s wishes are carried out, probate will also involve calculating how much their estate is worth and whether there is any inheritance tax to pay.
You may face a penalty if your information about the estate’s Inheritance Tax liability is inaccurate. If tax is due on the estate, you will usually have to pay at least some of it before probate is granted.
Related Resources (View more resources)
Presentation slides from the webinar ‘Executors and Trustees – do you know what you are doing?’ which took place on Wednesday 7th April 2021
A Lasting Power of Attorney (LPA) is a legal document that lets you choose trusted people to act on your behalf and make decisions for you, if you are unable to do so yourself, due to mental or physical incapacity.
A Lasting Power of Attorney (LPA) is a document under which you can give authority to someone to make decisions on your behalf even after you have lost mental capacity. Read this helpful guide to understand the different types of LPAs.
There are a number of things to be done following the death of a relative or friend and many of them are straight-forward administrative tasks but they are all important.