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For an executor, or anyone who has not yet made a will or needs to update one, this guide offers expert advice and provides easy-to-follow information on all the important issues. It covers the reasons to write a will, where to start, tax and legal considerations, and the problems of dying intestate. Brought fully up to date in this 12th edition, the book also provides detailed instructions for executors on valuing and administering an estate prior to winding it more

Product details

  • Book | 192 pages
  • 134 x 210 x 12mm | 281.23g
  • Kogan Page Ltd
  • London, United Kingdom
  • 0749438525
  • 9780749438524

Table of contents

Acknowledgements Foreword Introduction 1. Why Do You Need a Will? Who can make a will? Decide on your aims How much will my estate be worth in, say, 20 years' time? Understanding the jargon 2. What happens If You Die Without a Valid Will? Present rules 3. What You Should Know Before Writing a Will What is termed as 'property'? Financial matters What is an executor? Who can be appointed? Where should a will be kept? What is a trust? Small estates in England and Wales Expected estates' in England and Wales 'Excepted estates' What is a life interest? 4. What Can Affect Your Will? Marriage Divorce Revocation of a will A 'wish of intent' Disputes and unknown factors Making a gift void Rules to follow 5. How to Write a Will Checklist for your will Example of a will Notes What is a codicil? 6. A Question of Tax Equalisation of estates Settlements Transfers between husband and wife Domicile Gifts When is inheritance tax applied? What can be achieved if no prior planning has been done? Business property relief Relief for succession charges Related property rules Disposing of an asset Interest in possession trusts Children: accumulation and maintenance settlements Discretionary trusts Jointly owned property How is tax paid? Insurance against inheritance tax 7. Dealing With Personal Tax Matters After Death Allowable expenses before inheritance tax How does this affect the surviving partner's tax position? Self-assessment What is a tax code? Income tax due during the period of administration The distribution of income to a beneficiary 8. Who Can You Go To For Help? When will you need assistance? Where do you start? Solicitors The Probate Registry Probate Registries and their local Probate Offices Where else can advice be sought? 9. Documentation Death certificate What is a grant and why is it necessary? What are all these forms for? 10. Valuing and Administering the Estate How to start Property National Savings certificates Premium Bonds Insurance Bank and Building Society Accounts Shares and other Investments Other income Hire Purchase Listing the valuations Administering a trust 11. What Happens in Scotland? What is a 'small estate'? Rights Estate checklist What does it all mean? Children Heritable property Intestate estate Does divorce alter a will? Debts Useful addresses 12. Winding Up an Estate Property Bookkeeping Tax returns Accounts Distributing legacies Final accounts Capital accounts The closing stages Appendix 1 Probate Checklist Appendix 2 Probate Fees Payable by a Personal Applicant in England and Wales Index Index of Advertisersshow more