Letters of Administration are a legal document issued by a court that grants authority to an individual, known as the administrator, to manage the estate of a deceased person who did not leave a valid will. The administrator is responsible for distributing the assets of the estate among the deceased person’s heirs according to state laws governing inheritance. The administrator […]
What are letters of administration?
Inheritance Tax threshold frozen until 2028
The chancellor’s autumn statement confirmed that the current Inheritance Tax threshold will be frozen until at least April 2028. This follows a previous announcement freezing it until April 2026. The two-year extension to the lower limit means that more families will be required to pay Inheritance Tax as more estates exceed the nil rate band of £325,000. Inheritance Tax levels […]
What are the duties of the personal representatives?
The administrator can be held financially liable for any loss resulting from a breach of duty, even if a mistake is made in good faith. Being named as Executor in a Will or being appointed on intestacy can involve complicated, difficult and time-consuming duties which often take up to a year to complete. It is crucial to get everything right […]
Do I Have To Act As An Executor If Named In a Will?
Administering a relative’s will can be a traumatic experience, but it’s not a role you are forced to do, even if you have been appointed to take on the task by the deceased relative in his or her will. There is a process available if you want to withdraw your rights to take on this task. It’s called renunciation and […]