Estates—inheritance tax

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Practice notes
Definition of a personal representativeSection 55(1)(xi) of the Administration of Estates Act 1925 defines ‘personal representative’ as:‘the executor,...
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19th May
Q&As
What rights does a residuary beneficiary have to challenge a firm’s professional charges for acting in the administration of an estate where the firm...
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Produced in partnership with Oliver Auld of Charles Russell Speechlys LLP 19th May
Practice notes
Probate actions—mutual WillsThe term ‘mutual Wills’ is used to describe joint or separate Wills made as a result of an agreement between the parties...
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Produced in partnership with Adam Draper of Shoosmiths 19th May
Practice notes
Probate actions—Larke v Nugus requestsWhat is a Larke v Nugus requestIn 1959 the Law Society first recommended that where a dispute arises about the...
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19th May
Practice notes
Contents of Wills—residuary giftsWhat a residuary gift comprisesThe residuary estate will not necessarily comprise only cash, but will usually include...
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19th May
Practice notes
Assent of assets by personal representativesAssent by personal representativesPersonal representatives (PRs) can transfer assets to beneficiaries in...
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19th May
Practice notes
Variation of Will or intestacy after death—Q&AsA deed of variation may be made to vary the disposition of an estate made by the deceased’s Will or on...
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19th May
Q&As
Is an application for a grant ad colligenda bona the correct procedure to enable executors to complete a sale of property as agreed by the...
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Produced in partnership with Lynne Counsell of 9 Stone Buildings 19th May
Q&As
For an infant settlement approval hearing, is there a standard draft order? Is Form N292 applicable for Inheritance Act claims?There are specific...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 19th May
Practice notes
Entitlement to a grant for a non-domiciled testatorDeceased domiciled outside England and WalesA grant issued in England and Wales will be necessary...
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19th May
Practice notes
Revocation of WillRevocation of a WillA Will is revocable at any time during the testator's lifetime. A testator may not revoke their Will in any...
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19th May
Precedents
Warning to caveator, Rule 44(5)In the High Court of JusticeFamily Division[The nominated registry as defined by rule 44(15)]To [name] of [address] a...
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19th May
Practice notes
Payment of legaciesIdentification of beneficial interestsThe personal representatives (PRs) of an estate must identify:•the beneficiary or...
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19th May
Practice notes
Intermeddling in an estateWhat is intermeddling?An individual who performs certain duties which a personal representative (PR) would perform to...
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Produced in partnership with Jenny Bird and Charlotte Kynaston of Macfarlanes 19th May
Practice notes
Will drafting—hotchpotHotchpot clauses in Wills can be useful in equalising benefits between beneficiaries.The hotchpot rule is also applied in cases...
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19th May
Practice notes
Failure of gifts—ademptionWhen applying the doctrines of ademption and abatement, a distinction is drawn between specific, general and demonstrative...
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19th May

Most recent Estates—inheritance tax content

Q&As
How is a 16-year old beneficiary’s interest classified where a testator leaves their estate to their child by Will on an 18–25 trust with the...
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15th Jul
Practice notes
Funding inheritance taxSources of fundsPractitioners should advise the personal representatives (PRs) to make arrangements for funding inheritance tax...
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12th Jul
Practice notes
Calculating the IHT charge on deathThis Practice Note outlines how to calculate the amount of inheritance tax (IHT) that arises on an individual’s...
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8th Jul
Practice notes
IHT—residence nil rate bandThis Practice Note introduces the residence nil rate band (RNRB), which is also known as the additional threshold,...
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2nd Jul
Practice notes
Variation of Will or intestacy after deathVariations and other post-death rearrangementsAlthough the terms of a testator’s Will or the provisions...
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28th Jun
Practice notes
Post-death rearrangementsAlthough the terms of a testator’s Will or the provisions applicable on intestacy cannot actually be altered by the...
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17th Jun
Practice notes
Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For...
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10th Jun
Q&As
When calculating the value of the estate to determine whether the tapering provisions of the residence nil rate band (RNRB) apply to reduce the...
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9th Jun
Practice notes
IHT—valuation principles and particular types of propertyThe need to value the estateWhen an individual dies they are considered to have made a...
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Produced in partnership with Ailsa Moorhouse of Penningtons Manches Cooper 8th Jun
Q&As
If (post-transaction) HMRC agrees a valuation for shares, and those shares are then sold on at a higher value, can HMRC go back on the agreed...
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6th Jun
Q&As
If you have a lifetime interest in a property, this will form part of your estate for IHT purposes. Is the same true if you have a right to occupy a...
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6th Jun

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