After someone passes away, it's natural to worry about the steps that need to be taken, and any possible legal requirements or deadlines. Having some assurance on timescales, and answers to common queries, can often help to provide much-needed peace of mind.
Frequently Asked Questions:
Q: How many death certificates will I need?
A: In most cases, five original copies of the death certificate should be plenty.
All organisations (including funeral directors, banks, law firms etc) will need to see the death certificate – some will need to see an original death certificate (in hard copy), but many will accept a scan, sent to them by email or online. Therefore, for most estates, five original copies of the death certificate should be enough.
Q: Who is it important to notify early on?
A: Home insurers should be one of the first organisations to be notified of the death.
Insurers should be told that the policy holder has died, as soon as possible. If insurers are not updated of any changes in circumstances they may refuse to pay for any claim. Insurers will also need to know if anyone is living at the property or if it is unoccupied.
Q: Can I use the deceased's funds to pay for the funeral?
A: Banks can arrange payment from the deceased's account.
Most banks and building societies will be happy to arrange payment of the funeral costs, directly from a deceased person's account. They will usually need to see the death certificate and the funeral invoice, in order to make payment.
Q: What is the deadline to apply for probate?
A: There is no deadline or time limit.
There is no requirement to apply for probate by any specific date. If a grant of probate (or other grant) is required, the application can be made at whatever time the person(s) dealing with the estate administration are ready to do so. Most often, people will wait until after the funeral has taken place, before they start dealing with the estate.
Q: When does inheritance tax have to be paid, and estate values reported to HMRC?
A: Payment of inheritance tax (IHT) is due after (roughly) 6 months, and the IHT return is due after 1 year.
IHT becomes due for payment roughly 6 months after the date of death. If payment hasn’t been made by this deadline, HMRC will then charge interest on any outstanding balance, until they receive the funds. There are various ways that payment can be made, and in most cases, 6 months is plenty of time to arrange payment from the estate.
The payment deadline is often confused with the IHT return filing deadline. If a return is required, it should be completed and submitted to HMRC within 1 year of the date of death. If the IHT return has not been submitted by this date, HMRC may charge a penalty for late filing, however, a year is usually more than enough time to prepare the return and submit it to HMRC.
How we can help
If you need to deal with the administration of someone's estate, and would like advice on what is required, our Private Client team can help.
At BakerLaw, we offer an initial meeting to assess the details of the estate, and to confirm whether a grant of probate might be required. We can also provide a quote for our services to assist with obtaining the grant only, or to deal with the whole estate administration.
Contact us on 01252 733770 or via email at privateclient@baker-law.co.uk to discuss how we can help, and the next steps for making an appointment.
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