The death of a loved one is unquestionably one of the most traumatic events that we all have to contend with.
At a time of grief, the administration of an estate is something that many find very difficult to endure.
It’s understandable, as probate, which is the administration process of the estate following the owner’s death, is often both time-intensive and complex. Finding yourself in a position of responsibility for the family can be daunting, and it can be draining on top of dealing with one’s own grief. Continue reading
News that the current Tory government has extinguished plans to massively increase probate fees before the upcoming election, has raised the possibility that the proposals could be completely scrapped.
Probate Solicitor in London and elsewhere were very vocal about the hugely controversial Ministry of Justice scheme to raise £300m a year extra by charging up to £20,000 for large estates was authorised by the justice secretary.
However, now that the Government has confirmed that the relevant form of legislation that allows a parliamentary act to be made or altered without a vote by MPs, will not now be completed before the election. Continue reading
Being the world city that London is, changes to inheritance tax, which have gone largely unnoticed by the media, are set to have a considerable effect on many of its inhabitants. The new rules effective from May mean that those inheriting estates over £2 million will pay hugely increased probate fees of up to £20,000 following a proposal from the Ministry of Justice (MoJ).
Now, with the new rules about to come upon us only estates with a value under £50,000 won’t incur a charge. The changes will see a sliding scale of charges for probate fees. It had cost just £215 or £155 if you were assisted by a solicitor. Now though, an estate worth between £500,000 and £1m will attract a £4,000 fee. Continue reading
As tax and estate planning experts, we at Pindoria Solicitors have become aware of an announcement that The Ministry of Justice is proposing, which will see a huge increase in probate fees affecting the highest-value estates in the country.
Of course, many of these are here in London and the South East and the proposal, which has already been aired in the House of Commons, has been seen as part of the solution to raise extra money to fund the courts and tribunal service. Continue reading
Contested wills have shot up dramatically in recent years and here in London and the South East this is more prevalent than practically anywhere else in the UK. It is little wonder because the price of property in London and associated regions is so high, meaning that many people who were relatively cash poor during their lives die with properties worth substantial amounts.
The London many knew in their younger days is a very different place to the leading world city we now have. However, this increase in contested wills is an unwanted distraction when dealing with the death of a close family member as we, as wills experts, are only too aware. Continue reading
The sale of HSBC’s wills and probate business to a centralised firm means local people here in London and the South East need to act as soon as possible to ensure their will is in order. The decision to pass all of its wills and probate to a business called Simplify Channel Ltd means there are many people in the UK with worries about how it has affected them.
Here at Pindoria Solicitors, we have advised many people who have had wills drafted by HSBC and in the majority of cases the wills appoint HSBC as the executors to act on the will when the person has passed away. Continue reading