What is the Residence Nil Rate Band?
The Residence Nil Rate Band (RNRB) is an enhancement to the ordinary Nil Rate Band and is available for deaths on or after 6th April 2017. It currently stands at £175,000 and is frozen until 2027/28. The RNRB is not automatically given and must be claimed if required.
Can you sell a house or close bank accounts before Probate is granted?
In general probate is required before you can close bank accounts, obtain life insurance or sell a house after someone has died. As with most things, however, there are exceptions to this rule.
Debunking probate myths and understanding the probate process
Despite its importance, there are many misconceptions surrounding the probate process that often lead to confusion and misunderstandings. In this blog, we will explore some of the most common probate misconceptions and clarify the facts.
The late Queen and her Estate
In September 2022, the world was shocked to hear about the passing of Queen Elizabeth II. Not only was she Queen of the United Kingdom and other Commonwealth realms from 6 February 1952 until her death in 2022, but she was also queen regnant of 32 sovereign states during her lifetime, and was head of state of 15 realms at the time of her death.
Understanding probate: a guide for estate executors
As an executor, the process of probate can seem overwhelming. Probate is the legal process of administering a deceased person’s will, or estate under the intestacy rules and distributing their assets to the designated beneficiaries.
What to do when a person dies overseas
With so many options of travel and working from home, there is an increasing number of people moving abroad but continuing to have their place of work in the UK and retaining assets in England such as bank accounts, pensions and property.
Will I pay inheritance tax?
One of the most important matters to consider when making your Will, is if there is any opportunity to mitigate inheritance tax, and quite often with inheritance tax planning, the earlier you seek the advice, the more options will be available to you.
Increase in Probate Court fees and changes to the “excepted estate” rules
This month sees an increase in Probate Court fees and changes to the “excepted estate” rules. In this blog Kanesia Bicar explains what these changes mean for you.
What if I do not wish to receive my inheritance?
Although many of us are grateful to be left a gift within a Will, for some of us this gift can be unwelcome, or it may be one that the gift could be more useful if given elsewhere.
What happens to my debt when I die?
Our debts do not die with us, they are carried over into our estate. It is reported that Michael Jackson died with approximately £500 million worth of total debt; so what happens to these debts after we die?
What to do when a loved one dies
The following guide has been written to help you prioritise the next steps that need to be taken when a loved one dies, including recent changes in procedure during the Coronavirus Pandemic and will answer some of the questions that we are being asked by our clients most often.