GA Solicitors’ Guide to Probate and the Steps You Need to Take
Close family members who’ve recently lost a loved one are sometimes surprised to learn there is a process called probate, even those who are executors of a will. Probate is used to deal with the legal and financial issues as a result of a person’s death. This gap in knowledge is understandable as wills and deaths can often be a sensitive subject to openly discuss. Discussing how assets are divided can also often be contentious and therefore even harder to bring up and discuss.
GA Solicitors’ specialist team of probate solicitors has decades of experience in probate and all the aspects surrounding it. They have used this experience, and their clients’ most asked questions, to create this guide around the probate process.
Whether you are starting this process from the beginning or have already begun with the first initial steps, our team is here to help you.
What is probate?
Probate is used to describe the legal and financial process when dealing with the property, money and possessions of someone who has died. Once you have probate this will allow the estate of the person who died to be shared amongst those people mentioned in the will.
Do you need probate?
You are not always required to go through the probate process. Probate is required where:
- There is a property (houses, buildings or land) owned by the deceased
- There are banks or other financial institutions holding accounts (It’s worth noting that banks often set their own limit over which probate is needed so check with the individual institution)
- There are shareholdings
- There are foreign assets
- There are trusts in the will
If the person who died only had savings, owned shares or money with others, or owned land or property as “joint tenants” there may not be a need for probate as these will typically get passed on to surviving owners unless there has been alternative arrangements made.
How do you apply for probate?
Although you can apply for probate yourself, probate lawyers can do this on your behalf to save you any additional emotional stress.
For those who are applying for probate, whether this be through a probate solicitor or on your own, it’s important to find out whether this is something you have the ability to do. This can depend on whether or not there is a will in place for the person who died.
If the deceased had a will in place, the executors will be able to apply for probate, but for circumstances where there is no will, probate would need to be applied for by the closest living relative. With no will in place, you will need to be aware of the Intestancy Rules which will need to be followed.
Before applying for probate you will need to have an estimate of the estate’s value to see if there is any need to pay inheritance tax. The entire estate (including all property, investments and financial assets) will need to be valued and reported to HMRC. Depending on the size and complexity of the estate this can take months and must be done before applying for probate.
You will also need the death certificate (or an interim death certificate from the coroner), as well as the deceased’s will (if there is one).
It is recommended to apply online for probate via the government website. If needed you can apply by post, but it will take longer to process these applications.
If you would like more detail from our team of probate lawyers in order to consider the steps involved and the things you need to consider please take a look at our overview of what probate means.
If I use a probate solicitor, how much will it cost?
Our Plymouth probate solicitors have helped thousands of families in the city and beyond, so we understand that potential legal fees for the probate process need to be carefully considered. That is also why we can work on a fixed fee basis and are also happy to offer a no obligation discussion to determine the support you need.
Importantly, there are no upfront costs involved for our service as the fees are paid later from the estate monies.
What are the advantages of using a probate solicitor?
Experienced probate solicitors and lawyers can provide much needed support at a difficult and emotional time. It can be a daunting process and using an experienced professional can give you need reassurance and peace of mind.
Our team is ranked Band One in Plymouth for this specialist work by Chambers & Partners so you can be confident we will provide the highest levels of client service and legal expertise. GA is also regulated by the Solicitors Regulation Authority and we will communicate openly with you in the methods you prefer.
For a no obligation discussion with our probate specialists, contact us on 01752 203500 or email jonathan.hall@GAsolicitors.com
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