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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|

Continuing Bonds – ways of staying connected when a loved one has died

Grief is often described as a journey, although for many people it doesn’t have a clear start and end point. Everyone grieves in different ways and many theories have been developed about the grieving process. In this guest article Sarah Jones, Founder of Full Circle Funerals writes that, in her experience, many people find the theory of continuing bonds particularly helpful. What is “Continuing Bonds” theory? Put simply, continuing bonds theory states that when someone dies, our relationship with them doesn’t end, but it changes.  The relationship may continue to be very strong, but we need to find a [...]

November 17, 2021|Categories: Article|
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