How long can a solicitor hold inheritance money?
A solicitor can hold inheritance money for 6-12 months, but it can be longer if the estate is complicated or if there is no will.
Posts by Steve Gauke
Inheriting money from overseas – UK tax rules
UK tax rules can be confusing, especially if you are inheriting money from overseas, with multiple jurisdictions to navigate.
Why even wealthy clients face estate liquidity gaps
Inheritance tax needs to be paid before probate is granted. For clients without access to liquid funds – even those with multi-million-pound estates – that can be a problem.
What to do after inheriting money: your options explained
After inheriting money, you will need to make a plan, consult a financial adviser to work out your next steps, and deposit the money.
How to pay Inheritance Tax before probate
Inheritance Tax is paid before probate by either using your own funds, HMRC-approved referrals or taking out a specialist loan.
What if you can’t pay your Inheritance Tax bill?
If you can’t pay your Inheritance Tax (IHT) bill by the deadline, HMRC will charge interest on the outstanding amount from the due date.
Can I get an Inheritance Tax bridging loan?
Yes, you can get a bridging loan to help you pay Inheritance Tax (IHT). These loans are designed to cover IHT, which is due within 6 months.
Paying inheritance tax in instalments – what you need to know
You can pay Inheritance Tax in instalments over 10 years if you owe tax on illiquid assets. However, but you will be charged interest.
How and when to pay Inheritance Tax
Paying Inheritance Tax (IHT) is very important. HMRC has strict deadlines, and these can be before money from the estate is released.
Giving or receiving an early inheritance: What you need to know
Early inheritance can be a generous way to support your loved ones. Here's everything you need to know.
