When a loved one has passed away there is often a number of formalities to attend to as a matter of urgency. This can be a very upsetting and stressful time as you battle dealing with these unfamiliar tasks whilst coming to terms with your loss.
If you are the next-of-kin, close family member or executor of someone’s estate then some of these tasks may include; informing other family members, liaising with medical professionals, obtaining the death certificate, arranging the funeral, managing any important property issues, dealing with their banks, locating their Will etc.
What is Probate?
Probate is the legal process for dealing with the property, finances and assets of someone who has passed away. During the process of probate, the Will (if there is one) must be proven as valid and the authorised executor/s can be confirmed. This needs to happen before any of the estate can be claimed or transferred.
What is a Grant of Probate?
A Grant of Probate is a legal document obtained from the Court that confirms the named executor or executors are legally authorised to administer the estate in accordance with the Will. Once probate has been granted the assets can be realised and distributed in accordance with the Will.
If there is no Will, it may still be necessary to apply for a Grant of Probate, but it will be called Letters of Administration. The legal document will appoint an administrator or administrators who are, like the executor/s authorised to deal with the assets.
Does everyone need Probate?
Whether probate is required will depend on a number of things. If you are unsure, it is best to speak to a Solicitor who specialises in Probate, who will be able to tell you quite quickly after asking a few key questions.
If the deceased owned property or held other significant assets in their sole name they will usually need probate. If the estate is small, with no property and less than £5,000 in the bank, then you are unlikely to need probate unless there are further complications.
If the deceased owned joint assets, (such as property and bank accounts) with their surviving spouse this will directly pass to the surviving co-owner. They will need to produce the death certificate to formally transfer assets and undertake other transactions but will not usually require full probate.
If there is no Will and Letters of Administration are required, it is best to speak with a Solicitor to discuss who is entitled to apply for the Letters of Administration and who is entitled to receive the estate.
Can I Apply for Probate Myself?
It is possible to deal with the probate process yourself, but it should only be done if you are familiar and confident with the legal process. Dealing with probate yourself also carries a level of risk that you need to carefully consider. If you make any mistakes or miss deadlines, then you can be held personally financially liable.
Because of these reasons, and the added stress and time, many people choose to instruct a Solicitor to carry this out for them.
Getting Trusted Advice
Winding up someone’s estate can be tricky and particularly difficult to deal with if you are busy working full time, caring for elderly relatives or your children, out of the country or living far away from the deceased property and local solicitors. There is a lot of paperwork to deal with that must be completed accurately and on time.
Unless you are unfortunate enough to have dealt with the probate of a number of loved ones, then you may find that there are many unfamiliar terms, paperwork and legal documents to contend with. It is important that you are confident with the information you are providing and are keeping up to date with the various steps.
If you are looking for some advice on probate or wish to instruct a trusted solicitor to take care of the end-to-end process for you, then please get in touch today. You can call us on 01256 844888 and be put through to a specialist Probate Solicitor. Alternatively, you are welcome to email us with your requirements to enquiries@lambbrooks.com or speaking to our online chat assistant (who is a real person) any time of day.
Our team of probate solicitors are well versed in taking care of the administration of a variety of probate, from straight-forward modest estates to the more complicated such as; estates with foreign assets, multiple properties, estates with no Will, business owners estates, disputed estates with numerous beneficiaries etc.