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Jo Summers of Jurit LLP discussed on Radio London how probate delays, which freeze access to assets, are causing financial and emotional strain, particularly due to the requirement to pay inheritance tax before probate is granted...
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.
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.
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