Probate speeded up - unless you have a "GWR" trust

Beneficiaries seeking probate of a deceased's estate will now be able to use a simplified process of reporting to the Inland Revenue, providing the total sum of inheritance is no more than £240,000 and they do NOT have assets tied up in a "gifts with reservation" trust. Changes to simplified reporting rules limit - from £220,000 to £240,000 - should now allow an additional 5,500 cases each year to obtain probate without needing to complete a full Inheritance Tax (IHT) return. But one of the key requirements if a client wants to take the simpler probate route is the deceased is not...