• 2 min read

Can I do anything now so that it will be quicker for my family to get probate after my death?

Probate, Tax, UK.

The news is full of horror stories about how long obtaining probate can take. Currently 16 weeks is the expected minimum time where the estate does not have to file an HMRC return within it being a 20 week minimum when the estate has to file an HMRC return.

Speeding up the probate registry and HMRC is out of our control but what can help is leaving clear details for your family.

Your assets

With more and more assets being held online it is sensible to keep a list of your assets and liabilities and account numbers and contact details. These will inherit your family to get in contact with them quicker and as such obtain quicker information that they need for the probate application.

Keep a clear record of lifetime Gifting

Another aspect of the Probate process that can sometimes slow matters down is working out what gifting the deceased made in the 7 years prior to their date of death. Whether the estate is taxable or not, this is a question which needs to be accurately answered in the inheritance tax account.

The reason for this is because lifetime gifting over the deceased’s annual allowance may impact on a deceased individual’s Nil Rate Band Allowance which is the allowance every individual is afforded before their estate becomes subject to inheritance tax at 40%. A good piece of advice for clients is to keep a clear and up to date record of their lifetime gifting so that very little investigation is required by their personal representatives (i.e. the people responsible for administering your estate on death).

Make a note of the date any gifts are made, who they are made to and how much was gifted or what the gift was. If you make regular gifts, or intend for a gift to be regular, it is advisable to make a note of these regular gifts and why you are making them, for example if you have excess income and you, therefore, do not require this income so you wish to gifts out of this excess income.

Do you need help with the Probate process? Our team of experienced Probate solicitors are experienced in helping you complete the process as quickly and smoothly as possible. Call our team today on 0800 2800 421 to discuss your Probate requirements.

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