What happens to someone’s accounts when they die?

The short answer is that unless you tell companies that someone has died, their accounts will continue to run.  If there are benefits from the government, or interest on savings then you risk breaking the law by failing to inform companies about the death.   This means that as soon as possible after the person has passed away, you need to contact all the organisations that this person had an account with, tell them about the death and stop the accounts or transfer them.  You will also need to find out the Date of Death Balances for each account so [...]

November 23, 2021|Categories: Article|

Inheritance Tax Forms

As part of applying for a grant of probate, you will need to complete an inheritance tax form (IHT). You will need complete an IHT irrespective of whether there is tax to pay, unless the estate is exempt from Probate. There are a number of Inheritance Tax Forms (IHT forms) but the ones that most people have to think about are IHT205 and IHT400.   The choice of form depends on the Gross Value of the Estate. The Gross Value of the Estate is the value of everything in the estate (including property, vehicles, jewellery, money in the bank, savings, [...]

November 23, 2021|Categories: Article|

What is Probate and when do I need to apply for it?

If you are named as an executor on a will, then when that person dies it will be your duty to administer the estate.  The first step in administering an estate is usually to apply for probate.  What is Probate? A Grant of Probate in England, Wales and Northern Ireland, (or a Grant Confirmation in Scotland) gives you the legal right to deal with the estate of someone who has died. To be granted probate you will need to apply to the Probate Office, who will then issue the Grant of Probate after they have processed your application.  This can [...]

November 23, 2021|Categories: Uncategorized, Article|

What to do when someone dies

After someone passes away there are a number of  administrative  tasks that need to be completed.  This article describes the main steps that you’ll need to take in order to sort out your loved one’s affairs.  We’ve also provided links to other resources available on our website, which deal with topics such as probate and inheritance tax in more detail. 1 - Get a Medical Certificate of Cause of Death This is the legal document that explains how someone died.  If the cause of death is clear, a doctor can issue the certificate very quickly.  If someone dies  suddenly, [...]

October 29, 2021|Categories: Article|
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