Inheritance Tax

If an estate is worth more than the inheritance tax threshold it will be subject to inheritance tax.  The inheritance tax rates, threshold and any allowances are set out by the Government.

As part of the process of applying for Probate your executors have to communicate with HMRC.  They will have to confirm the value of your estate and they will have to pay inheritance tax that is due once probate is granted.

A number of factors can dictate whether you need to consider purchasing a bespoke tax planning will from a traditional solicitor. These include whether you are in an unmarried couple, if you have a high net worth (above the inheritance tax threshold), if you own agricultural or business property and if you have complex arrangements such as trusts.

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