Families shouldn’t be required to shoulder estate-related costs while grieving. Executors shouldn’t be placed in that position either. Nevertheless, when estates lack the funds to pay inheritance tax, cover solicitor fees, or handle estate property costs, executors often face this financial burden without the ability to access estate funds. This all-too-common challenge in UK estate administration can lead to avoidable delays and increased administrative complexity for legal teams. While some delays and stresses cannot be controlled, specialised probate-funding solutions are available to solve those estate-related challenges.
InheritNOW provides executors the liquidity needed to progress the estate through Inheritance Tax (IHT) Loans and Estate Expense Funds. These solutions are designed to ease financial pressure throughout the estate administration without compromising standards of care or compliance. IHT Loans and Estate Expense Funds help to remove bottlenecks and enable a smoother progression in estate administration.
For executors responsible for settling inheritance tax, IHT Loans provide a means for immediate funding to meet HMRC obligations, thereby unlocking the estate. In situations where an estate lacks accessible cash before probate is granted, this solution removes a barrier to liquidity and avoids unnecessary delays in estate administration. After probate is granted, and before distributions are made to beneficiaries, IHT Loans are settled directly from the proceeds of the estate, with no early repayment penalties. With this solution, executors do not assume any personal liability for repayment of the loan. With IHT Loans, executors avoid personal financial burdens and can progress the estate efficiently.
Estate Expense Funds provide executors with quick access to money needed for essential estate administration costs. These funds can be used to cover necessary expenditures throughout estate administration, such as solicitor or legal fees, probate fees, property insurance and maintenance, valuations, and clearance services. A flexible draw-down facility allows executors to access approved funds on an as-needed basis to meet estate-related expenses, ensuring liquidity without requiring a full advance prior to sale of estate assets and repayment. Since repayment is made directly from the estate once probate is granted and cash is available, executors are not personally liable for the loan. Through an Estate Expense Fund, executors can carry out their responsibilities without putting a strain on their personal finances and credit rating.
Probate is inherently complex and prone to delay and difficulties. Financial strain placed on grieving families and executors does not have to be part of the process. By introducing liquidity at the moments it is needed most, IHT Loans and Estate Expense Funds remove the weight that slows estate administration and creates unnecessary financial stress. These funding solutions give executors the means to fulfil their responsibilities without personal risk, delivering timely and compliant estate administration.
InheritNOW exists to lift that burden, ensuring that the costs of estate administration never fall on the shoulders of those already carrying enough.