Inheritance Tax & Probate Legal Fee Funding
Key Business Finance’s Inheritance Tax and Probate Legal Fee funding provides you with a unique way to help executors to meet the cost of inheritance tax, legal fees and disbursements arising out of probate – all at no cost to your firm*.
Benefits to your firm:
- No need to turn away clients who cannot currently meet your fees.
- Gives you a competitive advantage over other legal firms
- Prompt payment of your fee notes
- No arrangement fees for you or your client
- Easy online administration system
Benefits for your client:
- No arrangement fees to pay
- Competitive rates of interest
- Separate credit line, away from your client’s other financial arrangements
- Guaranteed acceptance (within legal firm’s pre-agreed credit limit)
- Finance available for up to 36 months or the finalisation of the estate, whichever is sooner.
How Inheritance Tax & Probate Legal Fee Funding works
The legal fee funding scheme is a revolving credit facility, which executors can use at any stage of their appointment, in order to help them pay:
- Inheritance tax
- Probate legal fees
- Probate expenses
both before and after probate is granted.
Your firm agrees an overall credit limit with Key Business Finance. You choose those executors to whom you wish to offer the facility.
At your invitation, the arrangement provides your clients with a revolving credit facility they can use to pay fee notes and disbursements as they become due. Key Business Finance then pays any fees charged direct to your bank account (via BACS).
All administration is carried out online, using your own case reference numbers so it’s easy for you to handle too.
For your clients
To help explain the scheme to your clients, Key Business Finance provides a useful booklet which summarises the scheme. Copies are available from us on request.
Find out more
If you would like to learn more about the Inheritance Tax and Probate Legal Fee Funding facility:
There is also an Inheritance Tax and Probate Legal Fee Funding information sheet to download, which summarises the scheme.
*Provided the executors do not default under the credit agreement.