The probate process involves sending in an inheritance tax return to the revenue almost regardless of how wealthy or not wealthy you are, saying all the estate that you own as at the date of your death.
It also includes infact any gifts that you’ve made in the 7 years before you die.
There are some exemptions, but generally that is the rule. If you’ve recorded all your assets on Lexikin and you grant permission for your executors to see your Lexikin record, they can see what assets you owned when you died.
They have to contact for formal valuations but your Lexikin record will save a lot of time and money for your executors and save your estate a lot of money to get that information for the revenue.
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