When a loved one dies, their debts will need to be cleared. Then their estate needs to be distributed according to their Will or the laws of intestacy (if there is no Will in place).
We offer a full handheld Probate and Estate Administration service.
The term probate simply refers to the process of gaining the legal right to deal with the deceased’s estate. That person, either an executor under a Will or an administrator without a Will, is responsible for sorting out the deceased’s affairs.
It is important that you conclude the deceased’s affairs appropriately. As it can cause both financial and emotional distress to family members. Especially if the process is not correctly followed.
If there is a Will in place and an Executor is named. Then that person needs to apply for a ‘Grant of Probate’. If there is no Will or the Executor is not named in the Will. Then the person looking to conduct the probate as an administrator would need to apply for ‘Letters of Administration’.
The executor is then responsible for gathering all the deceased’s assets. As well as paying any outstanding debts such as a mortgage. Then distributing what is left according to the Will or intestacy. It can be quite an administrative burden.
As an executor, you will need to complete and send all relevant probate and inheritance tax forms. Sending them to the correct government office.
The estate administrator needs to contact all the relevant financial institutions. They should understand all the deceased’s debts. Then makes an estimate of the estate value and report to HMRC. Anything believed to have a value over £500 should be referred to a professional valuation service. All gifts within the last 7 years will need to be taken into consideration.
No, probate is not always required. You do not need to apply for a grant if:
A Grant may be required by a bank or other financial institution with which the deceased held assets. This is normally if the amount in the account is over the specific threshold set by that institution.
With our Complete Probate Service we:
The role of Executor or Administrator, and the estate administration duties involved, can be very time-consuming and challenging. As it involves following a specific process, completing complicated forms and a knowledge of both the law and taxation.
If you book an appointment with one of our specialists. We can walk you through the process step-by-step. Ensuring that the estate is properly dealt with.
Farani Taylor Solicitors is authorised and regulated by the Solicitors Regulation Authority. This gives you peace of mind knowing that your loved ones probate affairs are being dealt with by a regulated organisation. Also by a brand you know and can trust.