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Financial Times Guide to Inheritance Tax, Probate and Estate Planning

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ISBN13: 9780273729969
Published: August 2011
Publisher: Pearson Education Ltd
Country of Publication: UK
Format: Paperback
Price: £28.99



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Nearly 9.5 million households in Britain will have to pay inheritance tax. What's the best way to avoid it? If you're administering an estate because someone has died, how do you obtain probate? Is it ever possible to retrospectively minimize an estate's tax liabilities?

The Financial Times Guide to Inheritance Tax, Probate and Estate Planning will help you navigate the complicated maze of inheritance tax, probate, and estate planning. Amanda Fisher tells you what to do when someone dies, helps you deal with administrative affairs and distribute the estate to beneficiaries, offers long-term strategies on how to protect your estate and minimize any potential inheritance tax liability, including the use of trusts.

The Financial Times Guide to Inheritance Tax, Probate and Estate Planning:-

  • Explains what to do when someone has died including how to register the death
  • Advises on the duties of executors and administrators and how to consider the validity of a will
  • Helps you apply for the grant of probate or letters of administration
  • Guides you through the completion of inheritance tax returns and how to calculate and pay any tax due
  • Provides advice on lifetime planning and illustrates ways to minimize potential inheritance tax liabilities

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Subjects:
Wills and Probate, Taxation
Contents:
PART ONE THE APPLICATION FOR PROBATE
1. Registering a death
2. Other matters to address when someone has died
3. The duties of executors and administrators
4. Consideration of the validity of a will
5. Intestacy and partial intestacy
6. Obtaining details of assets and liabilities
7. The need for a grant
8. Applying for probate and letters of administration
PART TWO INCOME TAX AND CAPITAL GAINS TAX
9. Treatment of income before and after the death
10. Tax liabilities and obligations to the date of death
11. Tax liabilities during the estate administration period
PART THREE INHERITANCE TAX
12. Completing the inheritance tax return
13. How to value property for inheritance tax
14. Overseas property
15. Considering gifts made before death
16. Calculating inheritance tax liability on the death estate
17. Tax planning after death and deeds of variation
18. Excepted estates
19. Paying inheritance tax
PART FOUR WHEN PROBATE HAS BEEN GRANTED
20. Distributing the estate
21. Estate accounts
22. Revisions and amendments to the estate
PART FIVE LIFETIME PLANNING
23. Lifetime planning to reduce an inheritance tax liability
24. The benefits of making a will
25. Trusts
Appendix A Tax return SA900 relating to the estate administration period and form R185
Appendix B Inheritance tax return forms
Appendix C Estate accounts
Appendix D Further help Glossary Index