How Lexikin benefits you and your family if you die
What use is Lexikin if I die? It saves time and money!
Andrew Murray, from solicitors Bishop & Sewell LLP, points out the Lexikin benefits and how they save your estate time and money – exactly why the Lexikin was created!
Andrew, if I recall is this information on Lexikin, what use is it if I die?
Well one has to put together an inheritance tax return stating all the assets you own when you died, in fact it includes the gifts you’ve made in the seven years before you die but all your assets as at the date of your death have to be returned to her Majesty’s Revenue and Customs.
If you’ve recorded everything on Lexikin then your Executor(s) can get that information and save a lot of time and money being able to find out what to declare to the revenue.
They still have to get formal evaluations but they will know exactly what and where.
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