[insert name of beneficiary] [insert address of beneficiary] [insert date] Dear [insert name of beneficiary] The late [insert name of deceased] Further to [our OR my]...
In administering the assets of an estate, there are some assets and liabilities that can be easily overlooked and apart from checking whether these exists the personal...
Foreign estates Personal representatives (PRs) will come across foreign estates in the context of foreign located assets, foreign-located deceased (in the sense of...
This Practice Note covers, in the main, applications made by a practitioner by post. It is possible for legal professionals (as well as lay persons) to make an...
Appointment Executors may be appointed: • expressly by Will • impliedly by Will (according to the tenor of the Will) • the Will may nominate someone to appoint executors....
The calculation and apportionment of inheritance tax (IHT) due on death can be complex, especially taking account of trust interests, chargeable lifetime transfers, the...
Ascertainment of residue Once the legacies have been paid, the personal representatives (PRs) can establish the amount available for distribution to the residuary...
Assent by personal representative Personal representatives (PRs) can transfer assets to beneficiaries in any way appropriate for the lifetime transfer of such property....
The need for a grant The production of a grant of probate or letters of administration is usually necessary to establish the right to recover or receive any part of the...
The estate of the late [name of deceased] [[I OR We] [enter name(s) of personal representatives] confirm that as [the personal representative OR the personal...
The basic position The beneficiaries will want to know that the estate is being effectively administered by the personal representatives (PRs) and will be concerned to...
This Practice Note is based on material originally produced by Tolley This Practice Note outlines how to calculate the amount of inheritance tax (IHT) that arises on an...
CGT position on an individual’s death The rules dealing with capital gains tax (CGT) on death provide that: • assets that the deceased was competent to dispose of are...
FORTHCOMING CHANGE: As originally announced at Budget 2018, the government ran a consultation between 1 April and 1 June 2019 on proposals to curtail capital gains tax...
Deaths at sea and abroad The death should be registered by the relevant service department and then with the General Register Office where it occurred: • on a merchant...
Executors and administrators are referred to as personal representatives (PRs). An executor is a person appointed by a valid Will or codicil to administer the testator’s...
Digital assets survive incapacity or death. Anyone who owns a digital device or has an online account should have a plan for dealing with that asset, whatever their age....
[insert name of beneficiary] [insert address of beneficiary] [insert date] Dear [insert name of beneficiary] The late [name of deceased] Further to [our OR my] letter of...
The intestacy rules If the deceased died totally or partially intestate, Parts III and IV of the Administration of Estates Act 1925 (AEA 1925) apply to: • all the movable...
Deceased domiciled outside England and Wales A grant issued in England and Wales will be necessary to administer those assets if the deceased died domiciled outside this...
Date from which the Will speaks Unless there is a contrary intention in the Will, then as to: • property, the Will speaks and takes effect as if it had been executed...
Duty to keep estate accounts Section 25 of the Administration of Estates Act 1925 (AEA 1925) gives personal representatives (PRs) a duty to keep accounts of the...
English law distinguishes between the law governing the administration of a deceased's estate and that governing succession to the estate. In most civil law jurisdictions...
HMRC's online Trust Registration Service (TRS) was designed to implement the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer)...
Is a tax return required? Personal representatives (PRs) have a duty to report to HMRC any untaxed income received during the period of administration and any capital...
This Practice Note considers compliance and accountability to inheritance tax (IHT) on an individual's estate on death, including: • accountability—the personal...
