Estate to Pay more in Fatal Accident Claims
Dramatic increased in court fees are not uncommon with the Conservative Government. Now the bereaved families are set with another tax through probate fees which will come into force in May 2017.
What is Probate in a Fatal Accident Claim?
Probate is the court procedure to ensure that the person who has died is officially recorded and to show the assets and liabilities of deceased immediately before death.
Probate will be obtained by the deceased executors if a will was left behind or through the next of kin (known as intestacy) if there is no will.
The person(s) in charge of the deceased affairs will then issue the relevant paperwork at the local court to obtain permission to officially deal with the legal affairs of the deceased which includes selling or maintaining assets and paying debts of the deceased.
In addition, of course, the person(s) dealing with the affairs of the deceased will also need to file the relevant IHT (Inheritance Tax Forms) to inform the Inland Revenue of how much tax, if any, the estate has to pay.
Fatal Accident Claims Increase Probate Fees
Fatal accident solicitors will need to advise bereaved families of the increase in the probate court fees, which can raise to £20,000 simply to authorise the court to proceed through probate. There is nothing more the court will do for this hefty fee, it is just a backdoor method of gaining more tax from the dead.
Posted: April 7, 2017 at 9:00 pm