Inheritance tax is due to be paid 6 months after the end of the month of death. If you do not make payment by this time, then interest start to run on any unpaid inheritance tax. A grant can not usually be obtained until the inheritance tax is paid. It may be that there are enough cash type assets belonging to the person who has passed away (cash in bank) or a life insurance policy under a trust to pay the inheritance tax before the grant is obtained. Sometimes the executor/personal representative has to get a loan to pay the inheritance tax. It may be possible to be paid by instalments on land and buildings, although interest will have to be paid.
Posted in Uncategorized.