Article Category: Estate Administration & Probate – Insight & Opinion

Tax Returns Deadline Extension Announced by HMRC

HMRC announces tax returns deadline extension

The HMRC have recently announced that  people required to file self-assessment tax returns will not receive a penalty if submitted late, provided that the tax return is filed online by the 28th February 2021. The deadline extension follows the realisation that many people required more time and were struggling to complete their tax returns by… Read more »

Caroline Flack: What Happens if You Die Without a Will?

Last will and testament document - what happens if you die without a Will?

Caroline Flack, TV presenter, very sadly took her own life in February 2020. Newspapers estimated that her estate was worth around £2 million but, after debts, the value was £827,000. Caroline had passed away unexpectedly without a Will having been made and therefore, by law, her estate is to be administered in accordance with the… Read more »

Grant of Probate: Changes to the Application Process

Filling in an application for a grant of probate

If you are dealing with the affairs of someone who has died, you may find that, as an executor, you need to apply for a Grant of Probate. A Grant of Probate is a Court Order which confirms the appointment of the executors named in the Will, and enables them to deal with the estate administration. This… Read more »

Do I Qualify for Business Property Relief?

Business Property Relief (BPR) provides relief from inheritance tax on the transfer of relevant business assets. It was established to provide the UK’s SME sector with some protection in the event of the death of the principal business owner. It aims to help businesses and beneficiaries to continue trading when faced with an inheritance tax… Read more »

Why a Commercial Lasting Power of Attorney is Important for Your Business

Running a business involves planning for the future and setting goals. Unfortunately, illness or incapacity is not something we can predict. A Commercial Lasting Power of Attorney (LPA) can help to ensure your business continues to run smoothly should you lose capacity or be unable to run your business due to ill health. What is… Read more »

Deciding Who Inherits Your Estate When You Die

The recent case of Wales v Dixon 2020 highlights the importance of giving clear instructions when making a Will to ensure that your wishes are carried out following death and it is clear who inherits your estate. Helen Gowin, Head of Estate Administration at SAS Daniels LLP outlines the case. Mr Wales died in 2015… Read more »

Death of a Joint Owner With a Mortgage

man dealing with death of a joint owner with a mortgage

If you own a property with other people, the way you own it together will be important no more so when one of the owners dies. If there is a mortgage on the property, further complications may arise as to who takes over the debt. A property can be owned jointly – either as joint… Read more »

Pay Now or Pay More Later: The Cost of Not Writing a Will

Last Will and Testament paper documents to make a Will

Failure to plan for death can have catastrophic consequences for a spouse or partner, both emotionally and financially, which go far beyond what the deceased may have intended to happen. The remedy for the family left with no protection due to the deceased not writing a Will, would be that they are forced to apply… Read more »