What does a probate lawyer do and do you need one?
A probate lawyer, or probate solicitor, manages the legal and financial administration of a deceased person’s estate.
Posts by Steve Gauke
Can an executor take out a loan on behalf of the estate?
Yes, an executor can take out a loan on behalf of the estate, but only when the loan is put towards the estate’s interests, not their own.
When executors should consider estate advances
Executors should consider an Estate Advance when they need to cover estate costs like Inheritance Tax, but don't have access to any funds.
What brokers need to know before recommending an Inheritance Loan
Before recommending an Inheritance Loan, brokers need to know the net estate value, what the loan covers and which lender products to use.
Can you pay your Inheritance Tax partially?
You can pay your Inheritance Tax (IHT) bill partially or in instalments depending on what the estate contains.
What documents do I need to start a probate application?
To start a probate application in the UK, you need the death certificate, will, an IHT form, probate application form, and court fee payment.
Can a beneficiary get an advance on an inheritance?
A beneficiary can get an advance on an inheritance by taking out an Inheritance Advance. This is also known as a beneficiary loan.
How long does it take to receive an Inheritance Advance?
You can receive an Inheritance Advance within days, sometimes within 48 hours of approval, based on how quickly your application is processed.
What type of business doesn’t qualify for BPR?
Businesses don’t qualify for BPR if they are mainly investment based, not actively trading or if they've been running for less than 2 years.
What happens when a business is inherited by multiple children?
When a business is inherited by multiple children, they will have to decide whether to sell or manage it, but may pay Inheritance Tax first.
