Paying Inheritance tax (IHT) is not always a straightforward matter, particularly if the amount due is more than you, the executor, have available to pay. If the estate left in the will is more than £325,000, then 40% of any amount over this threshold will need to be paid to HMRC. It doesn’t matter whether the estate is property only, […]
Can I Sell the Deceased’s Property to Pay Inheritance Tax?
Choosing an Executor to Administer Your Will
The person who sorts out your property when you die and carries out the instructions in your Will is called your executor. It is preferable that you appoint an executor in your Will as it makes it easier to finalise your Will after you die. There are no restrictions on who you choose to do the job, but it is […]
The Pros and Cons of DIY Wills
The number of British adults who have not made a Will is alarmingly high. It has been estimated that around 60% of adults have not concerned themselves with making a Will. Why not? The two main reasons seem to be cost and procrastination. Those adults who do think about making a Will are concerned about the cost of making a […]