Executor Bank Accounts

Executor Bank Accounts - Everything you need to know   Executing a Will can be time consuming and stressful. Holding an executor bank account is a useful part of the end-of-life admin process. This article explains: What are executor bank accounts? Why is it helpful to open one? Where can you open an executor bank account and what documents do you  need? What is an executor? An executor is the person named in a will to carry out the wishes of the will.  It can be an individual or a group of people. The responsibility of the executor begins on [...]

Excepted Estates

Excepted Estates - When don’t I have to fill in Inheritance Tax Forms or apply for Probate? When someone dies, some estates are described as Excepted Estates.  This means that you may not need to apply for Probate or complete inheritance tax forms.     What’s an Excepted Estate? An excepted estate is one where you don’t need to report to HMRC and the Probate Registry about how much someone’s estate was worth after they died.  If you don’t need probate, then you don’t need to complete IHT forms and you are likely to be an excepted estate. We have another [...]

End of Life Admin is Difficult

Research shows that 4 out of 5 people find end of life admin is difficult.  More on the industry report below: Settld publishes bereavement industry report on End of Life Admin Tech Nation national winner, Settld, reveals end-of-life account angst for families across the UK. One of the most painful of all tasks linked with the death of a loved one is closing their accounts and subscriptions. In our survey, nearly 88% of people found it difficult or very difficult to do this.   We also asked about how people were organising their own affairs. Respondents told us that their [...]

Life Insurance: what do I need to consider?

If you're thinking about taking out life insurance, our guest article from award-winning life insurance broker Reassured gives an overview of the different types available. It also describes common pitfalls to avoid and top tips to secure the right cover.  What is life insurance and how does it work? Life insurance is simply financial protection for your loved ones should you no longer be around to provide. It acts as a safety blanket for a worst-case scenario. The policyholder makes a monthly payment (the premium) for the lifetime of the policy (the term), to benefit from the set cover [...]

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