Probate is the process of obtaining the legal right to deal with someone’s property, money and possessions. This is called ‘applying for probate'.
Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who has died.
ProbateCalc is a software application that has been designed to help executors assemble and value an estate for Inheritance Tax and Probate, step by step, to save time, money and to make the whole experience more straightforward.
Executors and administrators of estates can benefit from using ProbateCalc by carrying out the valuation themselves and having the Inheritance Tax form completed automatically. According to published statistics, the majority of estates could be relatively straightforward to value, given the guidance and automation features designed into ProbateCalc.
Detailed worksheets and comprehensive help in ProbateCalc is provided at every step.
No need to worry about filling in complicated paper forms or doing complex calculations. ProbateCalc does all this for you and if you have an 'excepted estate' the information can be transferred automatically to the official HMRC Inheritance Tax IHT205 form. According to Government statistics, 90% of estates are 'excepted estates.'
The detailed estate information is retained, as required by law, showing how you arrived at the figures on the Tax Form.