Common scenario questions answered
When a loved one passes and you are either a beneficiary or are handling the estate as an executor, you will probably have a few questions.
As you can imagine, UK law surrounding probate is vast and can quickly become complicated if you are trying to navigate it yourself. And so, if you have any queries about inheritance or managing the estate of a loved one who has passed, you should contact a probate solicitor Emsworth.
To help you along, in this article the answers to some of the more specific areas of inheritance and being an executor in the UK are answered for your information.
I inherited a cash gift; do I need to disclose this for inheritance tax purposes?
This will depend on how long ago these gifts were made and how much they came to in total.
If you inherited a cash gift from a person who has now passed up to 7 years before they died, this will need to be considered.
With cash gifts, you are able to inherit up to £250 in any financial year; if the amount of the gift is higher than this, then you may be liable for paying inheritance tax. For more targeted advice on your specific situation, contact a legal representative who is experienced in probate.
My long-term partner passed away and under intestacy law, I inherit nothing. Can I appeal this?
You can under the Inheritance (Provision for Family and Dependants) Act of 1975, which was created for specific applicants to appeal in cases like this.
This applies if for 2 years up to the time of your partner’s passing, you were living together in the same household; even if you weren’t, you can still appeal using this act.
Resolving such an issue will typically be done via legal representatives, yourself and the executor of your partner’s estate through resolution and negotiation processes.
My father passed away living abroad, but had assets in the UK; how is this handled?
If your father had assets in the UK, you will need to obtain a grant recognised in the UK to manage his estate.
If your father has an executor based in the UK, their solicitor will usually handle such issues, but if you are named as the executor, you will need to approach a representative for guidance on this, especially if your father also had assets overseas.
I inherited a property; do I need to wait for probate to be completed before putting it on the market?
In certain cases, you may not need to go through probate to sell the property of someone who has passed away but in simple cases, you probably will.
If the deceased was the sole owner of the property and named you as the executor or the only beneficiary, then you will need to apply and receive a grant of probate before the property can be sold. You can enquire with estate agents regarding the price of the property while the grant is being obtained.