Executors must be able to account for every penny of the estate they are administering as they have a fiduciary duty to the creditors and beneficiaries. They must record every financial transaction during the administration period, essentially probate. So, the following case highlights the risks executors face if they ignore their duties and particularly, when they act in a criminal manner.
Read MoreWhen I meet clients and we start to discuss what they’d like to achieve in making their Will or through general estate planning, one of the questions constantly asked is Jules, but how do I calculate inheritance tax (IHT)? Thus, this guide aims to explain what IHT is, how to work out what you need to pay and when. Therefore, you can be on the ball before we meet!
Read MoreOn 29 January 2020, the APPG published an informal report on Reform of inheritance tax (IHT). This report comes at a time when many are expecting a range of tax reforms. The report considers a range of reform options but its key recommendations look to simplify IHT and lower the tax rate charged.
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