City & Country Financial Service’s Will Writing division provides a high quality personal service, all delivered in the convenience of your own home. Many people put off making a Will. Remember it's never to early to write your Will but often too late. Make sure your hard earned assets go to the ones you love.
It is not just the cost of living that is rising. The cost of dying – specifically, the cost of a complete funeral – is outstripping inflation too, often leaving bereaved relatives facing unforeseen bills. In the last two decades, the cost of the average funeral has quadrupled. Not surprisingly, nearly half a million people in the UK have taken out some form of funeral plan to help cover these costs.
The current threshold beyond which inheritance tax (IHT) is paid is £325,000. Married couples and those in civil partnerships can share their allowances. . Now the second partner can use any remaining allowance on top of his or her own £325,000. This means when the second partner dies, he or she can leave up to £650,000 worth of assets without there being any tax to pay.
Estate administration is the process of dealing with a person’s legal and tax affairs after they’ve died. This means dealing with all their assets (such as property, shares and personal possessions), paying debts and paying any Inheritance Tax and Income Tax. Whatever's left is transferred to beneficiaries. Estate administration can be extremely complex and is required after every death, whether or not there is a Will.