Probate advice is provided in association with authorised companies who will handle all aspects of obtaining the Grant of Probate. This means we are able to:
Provide clear and straightforward advice on applying for Probate
Offer a no obligation home visit to assess Probate, legal and tax needs
Agree in advance a fair, fixed and all-inclusive fee for managing the Probate process for you
What is Probate?
Probate is the process to establish ownership of an estate – the property, assets and possessions of a deceased person.
When someone dies Intestate, i.e. without a Will, Probate is still legally required, although the process is known as Administration.
Each Probate case is different and the time it takes will depend on its complexity, the types of assets, legal or tax complications, as well as other factors.
Who needs probate?
Generally Probate will be required to enable a person’s assets to be distributed following their death, however, each situation is unique and in some cases it may not be necessary. Probate may not be needed when:
all assets are in joint names and pass to the surviving joint owner
the person who has died has left very little (usually less than £5,000)
Despite these exceptions, it is still important to check the rules with the relevant bank, building society or other financial institution. Even with a small estate, these limits can vary between companies, so you will still need to contact each one separately.
If there is even one asset in the sole name of the deceased, it is likely that Probate could still be required.
When someone dies without a Will (Intestate), there are specific laws on who is entitled to the assets. These need to be followed and it is always recommended to seek advice from a professional before proceeding.
What is involved?
There are three main stages in the process of Probate:
Collecting the information about all of the assets and liabilities of the deceased
Preparing the statutory Tax Returns and the application to the Probate Registry for the Grant
Gathering in the assets, paying the liabilities and expenses, and distributing the estate to the Beneficiaries
For an initial discussion or to arrange a no obligation home visit, please submit your details on the Contact us page Or Call Brajinder Daved of Olympian Estate Planning Solutions on 01582 417027