Will my Will be disputed?

A recent survey by Direct Line Life Insurance found that almost a quarter (24%) of people are prepared to fight for their inheritance in relation to a loved one’s Estate.

We tell you quite a lot about how important it is to have a Will in place, but even with the best will in the world and with a Will drafted by professionals (rather than a DIY Will) could arguments still be raised?

Unfortunately, as we all know (and probably have experience of!) where there is money involved, arguments are not far behind! In 2018, the HM Courts and Tribunals Service evidence a 6% increase to the number of claims in relation to probate disputes.

So, although there are steps we can take (and we will have a look at those!) to ensure your Will is as water-tight as can be, here are a few of the common reasons that a Will is disputed:

Lack of mental capacity

In order to make a valid Will, the Testator (the person making the Will) must understand what they are doing, the effect that the Will has and the consequences. The Testator must be of sound mind and free from any disorder of the mind that may prevent the exercise of natural mental faculties.

A person may dispute a Will where they believe that the Testator did not have the mental capacity and ability to do so at the time that the Will was made.

Legal Requirements

There are certain requirements that must be met in order for a Will to be valid and if these are not met then the Will could be disputed.

Undue Influence

Undue Influence would occur where someone is forced to sign a Will, or has unreasonable pressure placed upon them to sign a Will, that they do not agree with or would not have made had they had control of the decision.

Although this is the most common dispute when loved ones want to contest a Will, this is the least successful claim as the burden of proof is extremely high and requires the person making the claim to prove that undue influence was present.

Rectification and Construction

This claim may exist where there is an error made in the drafting of the Will or the actual intentions of the Testator were not reflected by the person drafting the Will.

Failure to Provide

You can bring a claim against an Estate if you believe that the deceased should have provided for you within their Will and they have not done so. This would be a claim under the Inheritance (Provision for Family and Dependants) Act 1975, and in order to claim you would need to be:

- a child of the deceased;
- any person who was not a child of the deceased, but was treated as a child of the family by the deceased, within a marriage or civil partnership;
- the spouse or civil partner of the deceased;
- a former spouse or former civil partner of the deceased, that has not subsequently married or formed a new civil partnership;
- a person who had, during the whole of the period of two years ending immediately before the deceased’s death, lived in the same household as if he or she were the husband, wife or civil partner of the deceased; or
- any person who immediately before the death of the deceased was being maintained, either wholly or partly, by the deceased.

Having a Will prepared by a professional cannot eliminate the risk of claims being brought in the future but this does increase your protection and a professionally prepared Will means that it has been prepared by someone outside of the family that has taken the necessary steps to eliminate as many risks as possible and to satisfy themselves that the legal requirements are complied with, that the Testator had capacity and was free from undue influence.

If you would like a FREE chat to discuss putting your Will in place, get in touch on info@TotalLegacyCare.co.uk or 01727 865 121

Leah Waller

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5th June 201923rd April 2020

Probate & Estate Administration: What does it mean?

Probate & Estate Administration:
What does it mean?

At one point or another we will all have come across the term PROBATE or ESTATE ADMINISTRATION but what does it actually mean?

It is one of those questions that we have all had but may seem silly to ask…it isn’t!

PROBATE is the legal term for ‘proving the Will’ and this is done by applying to the Probate Registry for a Grant of Representation (also known as a Grant of Probate) to administer the Estate of the deceased.

ESTATE ADMINISTRATION is the term used to describe the sorting out of the deceased’s Estate following their death. Their Estate includes all of their possessions, property, money, savings, investments and anything else that they own or have an interest in. Their Estate may also have liabilities, such as debts (credit cards, utilities a mortgage), that require attention to. The Estate may also have tax liabilities (Inheritance Tax, Income Tax, Capital Gains Tax etc.) and this will also be dealt with as part of the Estate Administration.

Probate is often used as an overall term to describe the entire process, from obtaining the Grant of Probate through to administering the Estate, by collecting in all the assets, paying off the liabilities and tax, and distributing the Estate in accordance with the Will or the Rules of Intestacy (where there was no valid Will).

Estate Administration can be carried out by the Executor (as appointed under the Will) or a Representative of the deceased (where there is no Will and that Representative has applied for Letters of Administration), or can be carried out by professionals. In some circumstances the Executors or Representatives may require assistance of a specialist, especially where the Estate is complex or they have not had any dealings with such a situation.

It is worth remembering that Estate Administration takes a significant amount of time, with it being estimated that loved ones spend in excess of 50 hours dealing with Estate Administration where a specialist is not instructed.

In addition to this, those that carry out the Estate Administration themselves are personally liable for any mistakes that they make during the Estate Administration process.

If you are considering carrying out the Estate Administration yourself, you may find our Checklist for Executors helpful.

REMEMBER…You don’t have to do everything alone, ask for help as and when you need it!

If you would like to have a free chat, please contact us on info@TotalLegacyCare.co.uk or 01727 865 121

Leah Waller

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29th May 201923rd April 2020

Will your inheritance be lost to Care Fees or can it be avoided?

Will your inheritance be lost to Care Fees or can it be avoided?

Most of us work hard for the majority of our lives and when our time comes, we hope to leave an inheritance for our children or our families.

But…what about Care Home fees? What if we have no other option but to go into a Care Home, it may not be necessary for all of us, but a large proportion of us will have to because of our care requirements.

So, who pays for the care?

In the UK, those over the age of 65s make in excess of 1.3million requests each year for care and support.

A recent report (following a Freedom of Information Act Request) found that, across 205 Local Authorities:

31% of over 65’s in Care received fully funded care; and
53% of over 65’s in Care received partially funded care.

When broken down into regions, the report found:

Region	Percent of Over 65s receiving fully funded care
East	68%
East Midlands	17%
London	39%
North East	11%
North West	23%
Scotland	22%
South East	28%
South West	45%
Wales	16%
West Midlands	19%
Yorkshire	33%

You will see there is great disparity in the number of individuals that receive funding across the regions. So, is it a postcode lottery?

With Local Authorities only providing fully funded care in 31% of cases across Great Britain, what does that mean for the rest?

The eligibility criteria, for care funding, in Great Britain differ for England & Northern Ireland to Scotland and Wales. Here we will concentrate on England & Northern Ireland (if you require information for Scotland or Wales, please do get in touch).

To assess an individual’s eligibility for care funding the Local Authority will carry out a means-tested assessment and consider the income and capital of the individual applying for the funding.

The means-tested assessment will differ depending on whether the care required is to take place in the individual’s own home or whether the individual needs to move into a Care Home.

Where the individual is able to stay in their own home, with care and support, then the value of the individual’s property will not be included within the capital valuation.

Where the individual needs to move in to a Care Home, the value of the individual’s property will be included within the valuation. Where this property is still required for a surviving spouse to live in then this may be excluded from the valuation.

Now, for the finances:

You will have to fully fund YOUR OWN care fees if…
- your capital means are assessed above £23,250; or
- if your capital is under £23,250 but you have a weekly income that is high enough to cover the cost of your care

You will have to partially fund YOUR OWN care fees if…
- your capital means are assessed between £14,250 and £23,250; or

You will pay £1 towards your care for every £250 of savings that you have between £14,250 and £23,250

You MAY receive funding for care fees if…
- Your capital means are assessed at less that £14,250

BUT…you may have to contribute from your income. However, you must be left with at least £24.90 per week (Personal Expenses Allowance for 2019/20) although the Local Authority may consider increasing this allowance if there are specific property-related expenses that the individual is responsible for or if the individual is also supporting a spouse.

Your property value may be ignored for a period of 12-weeks, when you first move into care, for the purpose of the means-tested assessment but following this period, it will be taken into account (as per the above).

So, does this mean that your property will need to be sold, in order to pay for care costs?

Not always, BUT…

Where you do have to fund your own care costs, the Local Authority may agree to a Deferred Payment Agreement (rather than sale of the property straight away) and this will mean that the care costs will be paid to the Local Authority when the house is sold or when the individual dies, meaning that the property can remain in the family, but will have a charge over it in favour of the Local Authority.

So, where does that leave you?

The same report considered above, found that just 21% of those over the age of 55 had made any provision for their future care costs and 44% said that they would use their savings and investments, with 40% thinking that their pension would be enough to cover the costs.

If you would like to consider your options and what can be done to give you peace of mind and avoid the loss of your Estate, and ultimately your family’s inheritance, get in touch!

In this article we have not considered NHS Continuing Healthcare Funding and if you require more information on this then please do get in touch with Leah Waller who has extensive experience in applications and appeals in relation to NHS Continuing Healthcare Funding. Keep your eyes peeled for future articles in relation to this.

If you are concerned about yourself or a loved one moving into care, or want to get some plans in place, get in touch for a FREE chat on info@TotalLegacyCare.co.uk or 01727 865 121

Leah Waller

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8th May 201923rd April 2020

What to do when a loved one dies…

What to do when a loved one dies...

Making the necessary arrangements after the death of a loved one is somewhat overwhelming and far from what we want to be doing. Below we have set out a few tips to set you in the right direction and always remember…you don’t need to do this alone!

Register the death

Registering the death must be done within five days and in order to do so, you will need the Medical Certificate (stating the cause of death).

You should consider how many certified copies of the Death Certificate you may need, as these may be needed to close accounts, to access funds, liaise with companies, collect in the assets and to complete probate.

When registering the death you will also receive a Certificate for Burial or Cremation.

Look for the Will

The Will, if there is one, is a very important document and may well contain the funeral wishes of the deceased.

Look for documents in relation to medical research and organ donation

These wishes may be contained in the Will but may be elsewhere.

Arrange the funeral

As said above, the Will or a Letter of Wishes (often stored with the Will) may include the funeral wishes or the deceased may well have had a funeral plan (that may also have been pre-paid) in place.

A prearranged funeral can save a lot of emotional (not to mention, financial) burden, when the time comes!

Ensure the deceased’s home is secure

This is important but may not be necessary if the deceased was not living alone and, of course, will not be necessary, if the deceased lived in a residential, care or nursing home.

Ensure their possessions safe

Just as important as the home, is the deceased’s personal possessions. It may also be apt to consider whether the deceased had a gun licence, that needs attention (as well as the weapons themselves) and whether there are any pets that need taking care of.

Find insurance documentation and inform the insurer of the death

You will need to notify the insurance companies of the death and ensure that adequate home and contents insurance is in place

Inform the DWP Bereavement Service of the death

Inform the necessary government departments of the death (“Tell us once” service)

This service will save you from providing the same information to many authorities. You will also need to return the deceased’s Passport and Driving Licence.

Inform other companies / organisations of the death

This may well include the following:

- Employer (if applicable)

- Dentist / Podiatrist / Chiropodist / Health care etc.

- Carers / Domestic or Residential Help / Cleaners etc.

- Banks

- Building Societies

- National Savings

- Insurance companies (Buildings / Contents / Car / Life etc.)

- Pension providers

- Credit card providers

- Store card providers

- Mortgage company / Landlord / Local Authority / Housing Association

- Utility providers (Electric, Gas, Water, Telephone, TV, Internet, Broadband etc.)

Administer the Estate

After the above has been dealt with and the funeral has taken place will begin the process of administering the estate (often referred to as Probate) and this will include:

- Obtaining a Grant of Probate or Letters of Administration

- Collecting in and valuing assets

- Distribution of possessions (in accordance with any Will)

- Dealing with shares and investments

- Selling property

- Selling assets

- Consideration and payment of debts and liabilities

- Closing bank / building society accounts

- Rehoming pets

- Dealing with Inheritance Tax and Income Tax forms

As we have said, there is so much to consider and think about at such a difficult time but it is important to remember that you do not need to do it all alone!

If you would like to have a free chat about putting plans in place for yourself, or dealing with the loss of a loved one, please contact us on

info@TotalLegacyCare.co.uk or 01727 865 121

Leah Waller

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1st May 201923rd April 2020

Wills or Lasting Powers of Attorney: What is more important?

Wills or Lasting Powers of Attorney: What is more important?

Now, Martin Lewis the Money Saving Expert has been in trouble with the press recently as he has said that LPAs are more importantly than Wills. This caused huge controversy and saw the expert having to justify himself over-and-over on social media.

Here at TLC… we agree with him!

Wills are very important and we highly recommend everyone should get one in place to ensure their wishes are carried out exactly as they would like when they are no longer around. There are so many benefits to putting a Will in place that people, unfortunately, only come to realise when it’s too late.

But, as important as a Will is, it’s more intended for when you die.

An LPA is vital to ensure your are covered and protected DURING your lifetime.

An LPA allows someone that you trust to act on your behalf and make decisions that are in your best interests should you no longer be able to do so yourself. This can relate to both your health and welfare as well as your property and financial affairs.

We have written lots about the benefits of an LPA and why it is so important to have in place, so check out our articles on the topic if you would like to know more.

So, this is why we at TLC, and I personally, believe that LPAs are more important than a Will.

However, it this all could be down to perspective…

When looking at the importance of Wills and LPAs, let’s consider who’s perspective we are looking at it from and why that makes a difference.

For me, it’s more important to take the perspective of the individual who is making the Will or LPAs. For them having an LPA will benefit them during their lifetime, the Will only comes into effect when they are gone.

If you look at it from the other perspective, that of their loved ones that are left to deal with matters, which is more important for them? This may differ depending if the death is sudden and so a Will may be extremely useful, or whether the individual deteriorates and loses capacity and then the loved ones will also benefit from being able to assist and have the power given under the relevant LPA.

Without a Will:

Will the family know what the person’s funeral wishes were?
The person will die intestate, this means the Laws of Intestacy are to be followed and essentially this means the government decides where that individual’s money goes.

The family will need to carry out probate and go through the courts to be able to do so; this could be a lengthy, complicated and expensive process that could be avoided by putting a simple Will in place (and it costs a lot less too!).

At what is already a difficult time for the family, having a Will in place makes things a lot more simple, and although still difficult, it can prevent family arguments and tension.

Without an LPA:

If a person loses capacity and does not have an LPA in place then life becomes that little bit more complicated. A loved one, or carer, can apply to the Court of Protection for Deputyship (this is where the court appoint an Attorney to act for the person who has lost capacity), but this is a lengthy and extremely costly process. In the meantime you may struggle with the following:

Financial affairs:

Joint bank accounts may be frozen;
No one will have authority to access bank accounts in the person’s sole name to pay for expenses such as, grocery shopping, utilities & amenities and care costs to name but a few;
No one will have authority to speak with any financial institutions on behalf of the person;
No one will have authority to speak with any utility companies to ensure the provision of necessary utilities;
No one will have authority to deal with the property on person’s behalf making any decision regarding selling the property and moving the person into more appropriate accommodation for their care needs;
No one will have authority to speak with the Local Authority or the Department for Work and Pensions on behalf of the person to ensure the correct benefits and financial provisions are in place.

For the Health & Welfare side of things:

No one will have authority to give direction as to the person’s living arrangements or day-to-day activities/welfare;
No one will have authority to liaise with the person’s GP, Hospital staff or healthcare professionals;
No one will have authority to liaise with care home/ warden/ sheltered accommodation in relation to day-to-day care;
No one will have authority to liaise with Local Authority in relation to the person’s health and welfare issues.

So, to clarify, both a Will and LPAs are vitally important to put in place but we feel as though an LPA is more important to an individual DURING their lifetime.

If you would like to have a free chat about Wills or Lasting Powers of Attorney, please contact us on info@TotalLegacyCare.co.uk or 01727 865 121

Neil Barras-Smith

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24th April 201923rd April 2020

Inheriting Loyalty Points

Inheriting
Loyalty Points

Recent reports suggest that we (in the UK) accumulate £5.7billion in loyalty points EACH YEAR!

On average, most of us are members of five different loyalty schemes, each collecting points but a massive 93% of us are unaware that these can pass be passed on to a loved one when we die.

So, should we be including loyalty points and those details in our Wills? In short, YES!

Below, we take a brief look at three of the most popular loyalty schemes and how the accumulated points can be passed on following a death:

Nectar Card

Those of us with Nectar Cards are able to collect points with a number of different retailers (including Sainsbury’s) and to redeem those points against different brands.

Although Sainsburys policy states that the points are “personal to the Nectar account and cannot normally be transferred”, they can be transferred following death. In such circumstances the beneficiary must contact Nectar directly and request a transfer of the points.

Tesco Clubcard

The Tesco Clubcard allows members to collect a point for every £1 that is spent with Tesco (online and in store) and a point for every £2 that is spent on fuel, with the points then being transferred into vouchers for use in Tesco, for days out, eating out, travelling and other benefits.

In order to transfer the points accumulated by a deceased loved one, the beneficiary will need to contact Tesco Customer Service Centre to request closure of the deceased’s account and a transfer of the points to their existing Clubcard account or to a new Clubcard account.

Boots Advantage Card

With the Boots Advantage Card, you can collect four points for every £1 that is spent with Boots and those points can then be used as payment (one pence per point) in store or online.

Members can nominate a beneficiary to inherit their Boots Advantage Card points and members should get in touch with Boots Customer Care to arrange this.

So, leaving information as to the loyalty schemes you are part of, membership information (membership number, account numbers, passwords etc.) is important to allow your loved one’s to benefit from the loyalty points that you have collected.

If you would like a free consultation to discuss your Will in place, or putting a Will in place call us on 01727 865 121 or email us at info@TotalLegacyCare.co.uk

Leah Waller

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10th April 201923rd April 2020

Should I write a Letter of Wishes?

Should I write a Letter of Wishes?

Perhaps we should start off by explaining what a Letter of Wishes is…

A Letter of Wishes can give a bit more detailed explanation to your Executors and Guardians as to how you would like things to happen following your death. However, a Letter of Wishes is not legally binding.

So, could you just write a Letter of Wishes, rather than a Will?

In short, no.

A Letter of Wishes is NOT legally binding, whereas a Will is. The Will will ensure that the specifics stated in your Will are put into action.

Your Will will set out exactly who you want as your Executors, Trustees and even the Guardians of your children, as well as who should benefit from your Estate and how it should be distributed.

So why have a Letter of Wishes?

Although your Will is legally binding, your Letter of Wishes can go a bit further and give guidance and advice to those that you have appointed under your Will.

Some of the main areas that are focussed on in a Letter of Wishes are:

Guidance for Guardians

Although your Will can state who you want to take care of your children should the worst happen, the Letter of Wishes can give more detailed guidance on the specifics as to how you would like your children to be raised and brought up. Of course, you will have appointed those that you trust implicitly as your Guardians and those that you know will only ever act in your children’s best interests but a Letter of Wishes can help to get some of your specifics on paper and give you that extra peace of mind.

Guidance for Trustees

If you have Discretionary Trusts within your Will then it will be up to your Trustees to manage and distribute the Trust assets to the named beneficiaries. A Letter of Wishes can state how you would like the Trustees to act and use their powers, if there is more than one beneficiary to the Trust, the Letter of Wishes could state who you would like to be the main beneficiary. However, it is important to remember that this is only guidance as a Letter of Wishes is not legally binding.

Personal Items

You may well have many small items and personal belongings that you do not want to list out and gift in your Will but may well hold some sentimental value and that you would like to pass to specific beneficiaries. Where there are many items it may be easier for you to state in your Will that you are leaving the distribution of your personal items to you Executors and you would like them to distribute these in accordance with your Letter of Wishes. A clause like this, has the benefit of allowing you to change and update the Letter of Wishes regularly and as necessary, without having to amend your entire Will.

Exclusions

Although the exclusion of a specific individual will be dealt with within your Will, a Letter of Wishes can give an explanation as to your reasons for the exclusion and may well be considered by the Court should that individual make a claim against your Estate in the future.

If you would like more information, to discuss putting Wills & Trusts in place, or writing a Letter of Wishes, call us on 01727 865 121 or email us at info@TotalLegacyCare.co.uk for a free consultation

Leah Waller

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3rd April 201923rd April 2020

How do you own your property and why does it matter?

How do you own your property and why does it matter?

The way your property (including your home!) is held could have major implications on how you make decisions on the property, who (and IF!) you can leave it to someone of your choosing in your Will and whether, or how much, Inheritance Tax is or will be payable.

If you own the property alone, in your sole name then there is no complications as to how the property is held, however, if you hold the property with another person then it may be held as either:

Joint Tenants; or
Tenants in Common

So, let’s take a look at each of these in turn and their implications…

Joint Tenants

If you hold your property as Joint Tenants then this means that you each own 100% of the property (rather than a share of the property).

This means that you, as well as the other owner/s, have equal rights to the entire property and are each entitled to an equal proportion of the sale proceeds if the property is sold.

The Rights of Survivorship apply to property held in a Joint Tenancy and so upon the death of one owner, the surviving owner/s will automatically be transferred ownership of the property (although they already had 100% previously in any event).

A property held as Joint Tenants CANNOT be left in a Will, due to the Rights of Survivorship.

Tenants in Common

Holding a property as Tenants in Common means that each owner owns a specified share of the property. This can be an equal share but may well be unequal shares, especially where each individual is contributing a different amount to the deposit or purchase price.

An owner of a property held as Tenants in common can leave their share in the property to whoever they choose within their Will. This also means that Property protection Trusts or other Trusts can be put in place if the owner wishes (this is not possible if the property is held as Joint Tenants).

How do you know?

If you are unsure how your property is held, do not worry! This is something that we can find out by taking a look at the property Title Deeds.

Can you change how you hold your property?

Of course! If you would like to hold your property a Tenants in Common as you think that this is likely to be more beneficial in the long run, then the Joint Tenancy can be severed.

If you would like more information, to find out more about how your property is held, to discuss severing a Joint Tenancy or putting Wills & Trusts in place, call us on 01727 865 121 or email us at info@TotalLegacyCare.co.uk for a free consultation

Leah Waller

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20th March 201923rd April 2020

Cryptoassets: Should I include them in my Will and is Inheritance Tax payable?

Cryptoassets: Should I include them in my Will and is Inheritance Tax payable?

With a rise in cryptoassets and their prevalence in modern day society it is important to consider whether these should be included within a Will and perhaps more importantly how they will be valued for tax purposes upon death…

So perhaps a good place to start is actually defining what a cryptoasset is…

Many of us have heard of ‘Bitcoin’ after it becoming popular in the News headlines of late and ‘Bitcoin’ is a type of cryptocurrency, or cryptoasset and represent digital assets that an individual has legal rights over (meaning that they can transfer ownership, store it or trade it).

Cryptoassets are split into three categories:

Exchange Tokens (including cryptocurrency such as Bitcoin);

These can be used as a method of payment but typically there is no person, group or asset underpinning these and so their value is used for exchange or investment.

Utility Tokens;

These are provided by a particular business, or group of businesses, to provide the holder/owner with access to goods or services that they provide.

Security Tokens

These are provided by businesses as a form of share or credit due to the holder by

that business.

HMRC has specifically, and categorically, stated that cryptoassets are not viewed as currency or money, so that means there is no cash value and they are exempt from Inheritance Tax and indeed any other taxes, right? Sorry, WRONG!

The liability for tax will depend on the type of cryptoasset and the use of the asset.

Cryptoassets will attract Capital Gains Tax when they are disposed of (sold, exchanged, used to buy other goods or services or given away/transferred to someone else), much like any other asset that is disposed of by an individual. Other taxes may also apply to cryptoassets depending on how they are used, however, we will only be focussing on Inheritance Tax here.

HMRC make it clear that the onus is on the individual, and no other third party/issuer or otherwise to keep records of their cryptoasset transactions and this should include:

the category of cryptoasset;
the date of the transaction;
if the individual bought or sold the cryptoasset;
the number of cryptoassets;
the value of the transaction in GBP (£) – even where there is no pound sterling value an appropriate exchange rate must be calculated and records should be kept of the valuation method;
the cumulative total of the investment in cryptoassets that is held by the individual;
Bank statements if required for a review or enquiry.

So, what we all came here to find out…are cryptoassets included in the valuation of an Estate for Inheritance Tax purposes?

YES!

Cryptoassets have a value and so although they are not included as money or currency they are included within the valuation of an Estate under ‘PROPERTY’ for the purposes of calculating whether Inheritance Tax is payable.

If you would like to have a free chat about your Will, please contact us on info@TotalLegacyCare.co.uk or 01727 865 121

Leah Waller

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14th March 201923rd April 2020

Can the Inheritance Tax process be simplified?

Can the Inheritance tax process be simplified?

The Office of Tax Simplification (YES, there is such a thing!) have published their first report on Inheritance Tax, looking at the views and experiences of over 3,500 participants.

Some key findings of the report show:

Where people were not using an Adviser to assist with the probate process, the executors were spending in excess of 50 hours on administration of the Estate.

Participants stated that ‘obtaining Probate’ and ‘completion of the relevant forms’ were the “most time-consuming” tasks in administering the Estate.

Concerns were raised over submission of Inheritance Tax forms even where no Inheritance Tax is payable.

65% of participants stated that they “still had to provide significant amounts of information” in relation to the Estate regardless of whether Inheritance Tax was payable or not.

In the tax year 2015-2016, Inheritance was payable on only 24,500 Estates, however, 275,000 Inheritance Tax forms were completed and returned to HMRC. Thus showing that even where the Estate may seem small and simple, forms may still cause complications.

The key recommendation from the Office of Tax Simplification, following this report is:

“The government should implement a fully integrated digital system for Inheritance Tax, ideally including the ability to complete and submit a probate application.”

Office of Tax Simplification

This seems an ideal solution, in principle, however this is a large, not to mention expensive and time-consuming, task to achieve. A digital system for the whole process could allow for a speedier and much more simple procedure for the whole process from obtaining probate through to reporting on the Estate and payment of correct Inheritance Tax where applicable.

However, we will wait to see for such action to be taken and for now work with the system as it is.

If you would like to have a free chat about Probate or administration of someone’s Estate, please contact us on info@TotalLegacyCare.co.uk or 01727 865 121

Leah Waller

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Tag: Inheritance Tax