Having identified the various assets and liabilities of the deceased the process of applying for probate can commence. There are important issues to consider and these are covered in this section including:
  • How to value assets which are not simple bank accounts such as shares
  • Gifts that the deceased may have made in the years prior to their death which may or may not be deductible when it comes to calculating the Inheritance Tax due
  • Gifts that are exempt from Inheritance Tax
  • Making the application for probate – the forms that are needed, the application process and paying the Inheritance tax due
Again, look out for the red type which takes you to other relevant sections of the intranet and forms to use and the letter templates and other methods of recording that can be accessed via the Templates tab.