How local authorities can protect themselves from unethical heir hunters
The pandemic has disrupted every aspect of life, and the dramatic spike in intestate deaths is yet another upsetting example of how many lives have been lost to COVID-19.
Our recent FOI report – which surveyed all 359 local authorities in England and Wales – found that the number of people dying without a will rose by 60% between March and May last year, compared to the same period in 2019.
A fifth of councils also saw intestate deaths more than double in the first three months of the pandemic, while 12% of local authorities reported deaths with no known next-of-kin for the first time.
The basic allowance of £325,000 is still in place, but since 2015 the Government introduced the ‘residence nil rate band’ - more commonly known as, the ‘main residence’ band. This is an additional allowance – worth up to £175,000 from this financial year – that you receive on top of the £325,000 already granted in the ‘nil-rate band’. In laymen’s terms, this means that your direct descendants will not have to pay any inheritance tax on the first £500,000 of your estate.
“Importantly, if you are a beneficiary and are working with a probate genealogist, then you must remember that the fee for a probate genealogist is always paid on the conclusion of the estate administration. Any probate genealogist requesting direct payment before this should not be trusted.