In the fifth episode of the #TVLawyer Podcast, Melinda Giles talks to Giles Wilson Associate and integral member of our Private Client department Demi Trunks about the complexities of probate sales and transfers.
This can be one of the easiest ways to save yourself some inheritance tax, and potentially avoid paying any at all – provided you seek the right advice and make proper arrangements.
Inheritance Tax (IHT) is due by the end of the sixth month after someone dies. Allowing for time to grieve and thereafter the thankless task of collecting essential information from banks, valuations and details of debts, this deadline can creep up on you.
You may want to pass an inheritance down to your children or the younger members of your family who could do with it more. But to avoid doubling up on inheritance tax, it is important to understand the 7 year rule.
Learn why it is important that everyone has an up-to-date Will, no matter their age or circumstance.
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