Both Probate and Estate Administration are associated with handling an individual’s estate after they’ve died, but they are defined differently and often misunderstood. ‘Probate’ is a widely used term but there’s a lot of confusion about what it means and what is included in the...
An article in The Times from November 2017 warns against appointing a solicitor as an Executor in your Will. The article reported that a couple were faced with an exorbitant legal bill of £115,000 which was “removed” from a modest £300,000 estate. The deceased, had appointed...
A government scheme has been launched to enable people to claim back the excessive fees they paid the Office of the Public Guardian (OPG) for Lasting Power of Attorney applications. The OPG was told to offer the partial refunds because it significantly reduced its processing...
The Government is introducing a new fee structure that will affect the cost of accessing an estate when someone dies. Fees for Applications for Grant of Probate - or Letters of Administration (when someone dies intestate - without a Will) - are due to change shortly,...
HMRC collected a record £4.56bn in Inheritance Tax (IHT) in 2015/16, a 21% increase in IHT payments from the previous year and an enormous 70% increase since 2010/2011. The reason for this substantial jump has been put down to the increase in the values of assets...
The number of lasting powers of attorney (LPAs) registered annually has tripled between 2010 and 2015. The increase in the number of LPAs being registered may be due to a drive to increase public awareness, and a desire of people to plan for the future. An LPA...
The Financial Times reported recently that Government proposals unveiled earlier in March; could result in a hundredfold increase in probate fees for some families. This came to light when the Ministry of Justice (MoJ) published its plans to reduce the £1.1bn annual cost of running...
“Inheritance Tax is paid by people who distrust their heirs more than they dislike the Inland Revenue!” These words from a former Chancellor are now far from reality due to the Government’s clampdown on perceived ‘tax evasion’ in recent years, and their ongoing desire to restrict...
The act of marriage invalidates an existing Will, unless it was written in contemplation of marriage, as you have become a ‘different legal entity’. Divorce does not have the same effect of invalidating a Will. Instead, your ex-spouse will be deemed to have ‘died’ on the...
In the run up to the 2010 general election, the Conservatives pledged to raise the tax-free threshold on death to £1m per person if they got into power. In 2015 they had to find a way of delivering on their pledge - but all is...