Probate in England and Wales at low cost
Probate is the process of dealing with the estate of a person who has died, paying the bills, paying any tax due, then collecting in the assets. Right at the end the beneficiaries get there share! Sometimes it is simple, and for smaller estates our DIY Probate Service may be enough, but the Taxman gets very tough on estates worth more than £250,000 - and that figure can include assets "given away" 50 years before if the are treated as "gifts with reservation of benefit." A typical example is the house given to the children but lived in by the parents - it doesn't matter how long ago it was done, it will remain an asset of the parents for Inheritance Tax purposes (unless a FULL market rent has been paid and reviewed regularly to HMRC's satisfaction AND the children have paid tax on the rent! So the apparent size of an estate is not always the same as the taxable size! Estates over £250,000 or with businesses, foreign assets or non domiciled folk are amongst those who really need our help. But at least our bill will usually be around half as much as many!