Financial Times Guide to Inheritance Tax , Probate and Estate Planning
Published on 19. August 2010
Book
Paperback/Softback
352 pages
978-0-273-72996-9 (ISBN)
Description
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
The Financial Times Guide to Inheritance Tax, Probate and Estate Planning will help you face the difficult task of dealing with an estate when someone has died. You'll learn the best way to manage the process of acquiring probate and complete the administration of the estate, before distributing to the beneficiaries. You will also have an insight to the advantages of make a will and organizing your estate efficiently to minimize any future impact of inheritance tax, including the use of trusts.
The Financial Times Guide to Inheritance Tax, Probate and Estate Planning covers:
Registering a death
The duties of the executors and administrators
Consideration of the validity of a will
Intestacy and partial intestacy
Obtaining details of assets and liabilities
Applying for the grant of probate and the letters of administration
How income and gains are treated before and after the date of death
Valuing property for inheritance tax
Calculating the inheritance tax liability and completing the inheritance tax return forms
Consideration of tax planning and deeds of variation
Paying the inheritance tax
Distributing the estate to the beneficiaries
Lifetime planning to reduce an inheritance tax liability
The benefits of making a Will
Trusts
Glossary of key terms
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
The Financial Times Guide to Inheritance Tax, Probate and Estate Planning will help you face the difficult task of dealing with an estate when someone has died. You'll learn the best way to manage the process of acquiring probate and complete the administration of the estate, before distributing to the beneficiaries. You will also have an insight to the advantages of make a will and organizing your estate efficiently to minimize any future impact of inheritance tax, including the use of trusts.
The Financial Times Guide to Inheritance Tax, Probate and Estate Planning covers:
Registering a death
The duties of the executors and administrators
Consideration of the validity of a will
Intestacy and partial intestacy
Obtaining details of assets and liabilities
Applying for the grant of probate and the letters of administration
How income and gains are treated before and after the date of death
Valuing property for inheritance tax
Calculating the inheritance tax liability and completing the inheritance tax return forms
Consideration of tax planning and deeds of variation
Paying the inheritance tax
Distributing the estate to the beneficiaries
Lifetime planning to reduce an inheritance tax liability
The benefits of making a Will
Trusts
Glossary of key terms
Reviews / Votes
'For the price, the publication is a bargain, in terms of both the spread of content and the practical advice contained'Paul Seal, STEP Journal, December 2011
More details
Series
Language
English
Place of publication
Harlow
United Kingdom
Publishing group
Pearson Education Limited
Target group
Professional and scholarly
Dimensions
Height: 234 mm
Width: 156 mm
Thickness: 22 mm
Weight
659 gr
ISBN-13
978-0-273-72996-9 (9780273729969)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
E-Book
09/2012
1st Edition
Financial Times / Prentice Hall
€28.99
Available for download
Person
Amanda Fisher runs her own tax, accountancy and training business - http://www.ajftaxation.com. She regularly teaches courses on taxation, tax efficiency and inheritance tax and works with HM Revenue and Customs through her tax practice. She is a member of the Probate and Estates Committee of the Society of Trust and Estate Practitioners (STEP) - http://www.step.org/
Content
Preface
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
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