Probate
What is probate?
If a loved one has recently passed away, you may now have to deal with the legal undertaking known as Probate. It can seem daunting if you have never heard of it before, but fortunately there is a wide variety of help on offer.
What is Probate?
Probate is the term used to describe the various processes and procedures which are set in motion in order to distribute an individual’s property and assets after they pass away. If the deceased left a Will, then this will need to be approved by a Probate Court, which will then issue a Grant of Probate, allowing the relevant people to take charge of the financial and legal affairs of the departed. These people will have been appointed in the Will and are known as Executors.
If there was no Will, there are certain rules in place which are designed to distribute the property of the deceased in a fair fashion. The individuals appointed to oversee this eventuality are known as administrators.
What does the Probate process involve?
The Executors or administrators of the deceased’s estate will have a variety of tasks to undertake, including a valuation of what the deceased owned and owed, the payment of any taxes which are due (including Inheritance Tax), and the keeping of records for any property to be distributed (according to the Will, if one was indeed left).
Because Probate is an involved legal process, it can be difficult and confusing, and even if the situation is fairly simple, it can still eat up a lot of time.
Is there anyone who can help with Probate?
Whoever is made responsible for the Probate process is entitled to help if they should need it. This can range from bringing in a professional to handle the tricky legal bits, all the way up to paying an expert to see the process through from beginning to end. It is possible to pay any costs incurred out of the estate of the deceased, before it is distributed to the beneficiaries.
If you’re looking for an expert Probate advisor, our Find a Solicitor service can help you find one.
Issues surrounding estate administration
What is probate?
Probate is concerned with the administration of the estate of deceased person as outlined in their Will, along with the process of authorising a person to carry out this task.
Find out moreWhat to do when someone dies
When your loved one passes away you may be unaware of the various legal issues which need to be taken care of. Even before probate can begin there are numerous documents which need to gathered and people whom must be informed.
Find out moreExecutors
An executor is someone nominated in a Will to handle the administration of a person's estate after they pass away. They have a number of legal and administrative duties which they must carry out.
Find out moreInheritance Tax
Paying Inheritance Tax (IHT) can be one of the more burdensome duties associated with probate. Learn about the degree to which estates are taxed and the exemptions which exist.
Find out moreWhat if there is no Will?
If someone has died without leaving a valid Will there are rules which determine the destination of their estate. These are known as intestacy rules.
Find out more