When it comes to Probate, you will probably have many questions. As it’s not the most common legal process, and you hopefully won’t have to go through it regularly, there are many terms and phrases that you may not understand. Best Value Probate is here to help you.
Probate is the official way of proving who benefits from a will. Read more.
‘Estate’ refers to the property, funds, land, shares, and belongings left by the deceased.
Most people will need probate, especially when it’s unclear who the benefactor of a will is. Read more.
A Grant of Probate is a legal document needed to prove who is the benefactor of a will. Read more.
Only an Executor or Executors named in the Will are entitled to deal with a Deceased’s Estate. However the Executor can appoint a Probate Practitioner or Solicitor to make the application on the Executor’s behalf and deal with the administration process. Read more.
The executor of a will is the person who organises the estate, as legally named by the deceased.
The administrator of a will is the solicitor who deals with the deceased person’s estate.
In some instances you may not need a solicitor, but it can make life a lot easier. Read more.
Technically, you can apply for probate yourself as there are no laws stopping you, but organising probate yourself will mean you are financially responsible for any mistakes made. Read more.
How you organise probate will depend on the type of estate left behind. Read more.
The cost of obtaining a grant of Probate will depend in part on the complexity of the estate that is to be administered. Read more.
After you and your solicitor have gone through the deceased’s estate and established any assets or liabilities, your solicitor will send a copy of the death certificate to each institution requesting a final statement. Read more.
Probate can take between 8-12 weeks if no inheritance tax is due, or up to 6 months if there is any inheritance tax to pay. Read more.
In the UK, inheritance tax is 40% payable on estates over £325,000, apart from in the case of a jointly owned estate being passed to the surviving spouse or civil partner.
If your spouse dies and you have joint assets, these will go directly to you without any inheritance tax. Read more.
Around 70% of people die without leaving a Will. This is called intestate. Read more.
An insolvent estate is when someone dies after going bankrupt or where there is outstanding debt. Read more.
You can find a solicitor online to carry out Probate for you as there is little face to face communication needed. Read more.
Once you have received the Grant of Probate, you can divide the estate up as you see fit. Read more.
Probate records are public and anyone can access them by applying to the offices of the local court where the Probate was processed. Read more.
Whatever stage you're at, you may need some legal help during the Probate process. Yes, you can arrange Probate yourself but you need to understand what's involved, as well as the risks.
We at Best Value Probate offer a bespoke Probate service with fixed fees for our clients.