What is UK inheritance tax?

Inheritance tax is a charge on the estate of a deceased person, often called colloquially ‘death duties’, they are paid on the value of the deceased’s estate. The estate can include money, personal possessions, property and anything else of value. In this post, we’ll take you through some of the main points to think about when looking at inheritance tax. If you would like to speak to a probate expert, call us free on 08001181603 Need to write a Will? Write your’s on...

How long after probate does it take to receive an inheritance?

How long after probate does it take to receive an inheritance? For beneficiaries of small, simple estate probate can take as little as 3 months and then it is simply a matter of the executor or administrator handing over the inheritance. Unfortunately for many estates, things aren’t quite so simple. There are lots of duties for the executor to perform and some of these can take a considerable amount of time and often be out of their hands. If you would like to...

How much inheritance tax do I have to pay?

Inheritance tax – plan wisely to save thousands Inheritance tax can run up to 40% of a bequest so it is worth spending some time making sure your estate doesn’t get reduced unnecessarily. Sensible inheritance tax planning can actually save people a considerable amount of money but you must think about this in good time and when you are making your Will. What estates won’t pay inheritance tax? Probably the best place to start is to identify who isn’t at risk of paying...

Inherited a car? What you should do next.

Inherited a car? What you should do next. One of the things that surprises people when someone passes on is the sheer amount of practicalities that have to be dealt with. One of the most common is what to do if you inherit a car. Hold on a moment… The executor will have to do a couple of things before you can take possession of a car. The first thing to confirm is that the vehicle is actually owned by the estate. The majority of...