DIY probate – it does not always pay
We had a case recently where the executor had done an excellent job in preparing the preliminary work to obtain a grant of probate. He then thought he ought to consult us just in case he had missed something. All the deceased’s assets had been accurately recorded. They included a one half share in a house which the deceased shared with his son, who was the other joint owner. The executor had entered one half of the house’s value in the form without appreciating that, in these circumstances, that value could be discounted so that inheritance tax is not charged on the full one half amount.
So the hesitation on the executor’s part paid off handsomely. The fees paid to Probaters were more than adequately covered by the saving on inheritance tax.
Contact Probate Lawyers – Inheritance Tax Advice
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