Probate
When a loved one has passed away it can be hard to tell what they would have wanted you to do with their belongings, funeral arrangements and even any personal gifts. If they have left a Will behind this can often point you in the right direction. If they haven’t left a Will, the assets will pass according to the rules of the state. These rules vary depending on whether the person who has died was married, left children or brothers and sisters etc. at the date of their death and so it is impossible to predict the situation until the event has occurred.
After the death, all institutions need to be informed, accounts drawn up, documents relating to inheritance tax need to be prepared, Oaths need to be sworn by the Personal Representatives and the Grant of Probate or Grant of Administration needs to be obtained. Betsy can do all this for you to take some of the weight from your shoulders at such a hard time.
The bigger the estate, the more complicated the tax calculation. It may be hard to consider the tax consequences when you are grieving. Betsy would be able to look at options available to you with regard to post-death tax planning, together with establishing the amount of inheritance tax that may then become payable.
The new government rules also mean that tax allowances of married couples or civil partners can be effectively “doubled up”. In order to claim the unused tax allowance of the first spouse or partner a procedure must be followed. Betsy can do this for you.
Trusts may be set up through Wills or come to an end as a result of the death of someone who was entitled to an asset for their lifetime only. These situations can be complicated and often unique to each person. By looking through the Trust Document we can advise on your individual situation.
After the death, all institutions need to be informed, accounts drawn up, documents relating to inheritance tax need to be prepared, Oaths need to be sworn by the Personal Representatives and the Grant of Probate or Grant of Administration needs to be obtained. Betsy can do all this for you to take some of the weight from your shoulders at such a hard time.
The bigger the estate, the more complicated the tax calculation. It may be hard to consider the tax consequences when you are grieving. Betsy would be able to look at options available to you with regard to post-death tax planning, together with establishing the amount of inheritance tax that may then become payable.
The new government rules also mean that tax allowances of married couples or civil partners can be effectively “doubled up”. In order to claim the unused tax allowance of the first spouse or partner a procedure must be followed. Betsy can do this for you.
Trusts may be set up through Wills or come to an end as a result of the death of someone who was entitled to an asset for their lifetime only. These situations can be complicated and often unique to each person. By looking through the Trust Document we can advise on your individual situation.