The IWC Glossary

Enduring Power of Attorney

Enduring Power of Attorney is a legal document giving another power to take over your affairs in the event that you lose mental capacity.

Estate Administration

The process of dealing with the estate of the deceased person.

Excepted Estates

When applying for Probate form IHT205 must be submitted to the Inland Revenue, an excepted estate would be one where the estate is less than the current threshold for inheritance tax

Executor

If a person writes a will they would appoint Executors to deal with their affairs after they have passed away

Exemptions

When an estate qualifies to pay inheritance tax certain parts of the estate or perhaps all of the estate could be exempt