What happens to Premium Bonds after death?
After death, Premium Bonds pass to the estate. NS&I, the bank that holds them, stops new bond purchases and freezes the account.
Guides for Beneficiaries and Executors
What happens if a beneficiary dies during the probate process?
If a beneficiary dies during the probate process, what happens next is affected by timing and what is written in the will.
The importance of liquidity in estate planning
Liquidity in estate planning is important as it means the estate will have accessible cash to cover urgent bills such as Inheritance Tax.
How many executors can a will have?
A will can name up to four executors to be named on the Grant of Probate at the same time. Most people appoint one or two executors.
What happens if an executor dies or can’t act?
If an executor dies or can’t act, the next steps depend on whether anyone else has been appointed to administer the estate.
Can an executor of a will be a beneficiary too?
Yes, in the UK, an executor of a will can also be a beneficiary. This is common when spouses, civil partners or adult children are involved.
HMRC Inheritance Tax changes 2027: what you need to know
From 6th April 2027, HMRC have announced that unused pension funds will be included in the value of an estate for Inheritance Tax purposes.
Can probate be expedited in urgent cases?
Probate can be expedited in urgent cases, but it’s rare. Common reasons include property sales and Inheritance Tax deadlines.
What happens to ISAs when someone dies?
When someone dies, their ISA becomes a continuing account of a deceased investor, retaining its tax-free status for three years and one day.
Inheritance Tax rules on gifts explained
You can gift money to friends and family during your lifetime free of Inheritance Tax by using your individual allowance and the 7-year rule.
