BBC Radio London - Probate delays continue to cause anguish
When someone dies and they have assets in their sole name and not a joint name, those assets are frozen and you can’t do anything with them until probate is granted.
Probate is the court process necessary to grant access to those assets, enabling beneficiaries cited in the will to receive what has been bequeathed.
However, delays in the granting of probate are causing significant problems, as Jo Summers, Partner in our Private Wealth & Tax team explains on behalf of STEP – Advising Families Across Generations.
Speaking on Radio London recently, Jo explained that since inheritance tax (IHT) is often required to be paid ahead of probate being granted, it is causing significant financial and emotional anguish for people.
More needs to be done to address the issue, as Jo explains during the interview with BBC Radio London (skip to 1hr 16 mins).
For more information or help and advice on the issues discussed in this article, get in touch.
Jo Summers Partner - Private Wealth & Tax +44 (0) 20 7846 2370 jo.summers@jurit.com
Please note this paper is intended to provide general information and knowledge about legal developments and topics which may be of interest to readers. It is not a comprehensive analysis of law nor does it provide specific legal advice. Advice on the specific circumstances of a matter should be sought.
