that you can save 40% on your probate costs if you are an inheritance tax payer?
Yes a McClure Prepaid Probate Plan can save you 40% on probate costs. When you die you have to pay the Inheritance Tax on your estate and then pay the probate costs out of what is left. However if you have a McClure Probate Plan you pay in advance. This avoids the 40% IHT on the probate costs. As an example say the probate cost is £10,000 plus VAT i.e. £12,000. If you don’t have a plan, it will cost you £20,000. That’s because you need £8,000 out of the £20,000 to pay the IHT and then the £12,000 to pay for the probate. However if you prepay it it only costs you the £12,000 and saving you £8,000. Isn’t that good?
And by the way, you avoid all future increases in probate costs. Also, unlike some other probate plans, you get the benefit of McClure’s Express Probate Service. There is no point in prepaying your probate if you have no idea who is actually going to carry out the work when the time comes.
So everyone who might have an IHT liability when they die (even if it’s a small liability) will save a considerable sum if they prepay their probate.
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