Delays in granting probate are causing significant financial losses to local councils along with prolonged grief for bereaved families. According to findings from the House of Commons justice select committee, these delays contribute to £214 million in lost revenue for councils and delay vital projects for charities like Cancer Research.
Homes belonging to deceased persons are exempt from council tax under 'Class F' categorisation as long as the property remains vacant.
Committee chair Sir Bob Neill emphasised the need for HMCTS (HM Courts & Tribunals Service) to improve data sharing and transparency. Neill suggested that publishing detailed probate data would help charities forecast finances better and alleviate unnecessary burdens on bereaved families and legal practitioners.
Amber Little, Senior Underwriter for Level (formally of Tower Street) says: "The increasing delays to granting probate can lead to significant financial and emotional turmoil for the families of the recently deceased, as well as causing knock-on effects for the wider economy which are often forgotten about.
Both of our products, Estate Expense & IHT Lending and Inheritance Release, can be useful in this situation. We can advance both a proportion of a Beneficiary’s inheritance or the funds to pay IHT much sooner – without waiting for the grant of probate."
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