When a person dies, legal steps must be undertaken to Administer their Estate. The person’s property, money and possessions must be collected together, and any outstanding debts must be paid off. After this has been done, the remaining assets will be distributed in line with the wishes outlined by the deceased in their Will. Technically, the term 'Probate' refers to obtaining permission to carry out the wishes within someone's Will. However, the term also applies to the whole process of settling someone's Estate.
The specialist Wills, Trusts and Probate Lawyers at The Sethi Partnership Solicitors can provide clear, reliable advice to help you negotiate the Probate process if you have been appointed to act as an Executor. We have many years of experience carrying out Probate and the Administration of an Estate, or overseeing the completion of Probate, ensuring that this is completed as quickly and straightforwardly as possible, avoiding any mistakes that could lead to stress and delays in the weeks and months ahead.
When someone dies leaving behind a Will, they will usually identify the person they want to act as their personal representative to carry out Probate and Administer their Estate as per their wishes. This person is known as the “Executor”.
The role of Executor can be a demanding one. They must prepare all documents required for a Grant of Probate application, which will give them the authority to Administer the Estate. A Grant of Probate can be presented to institutions such as banks, building societies and insurance providers to show that the Executor has permission to access and deal with the deceased's money and property. They must prepare an accurate inventory to establish a total value for the Estate and, depending on this value, calculate and pay Inheritance Tax [LINK TO NEW PAGE] if required. When it is time to distribute the Estate amongst the Beneficiaries detailed in the Will, the Executor must identify and correspond with family members, friends and organisations entitled to a share of the Estate and ensure that property and money are distributed to them in accordance with the wishes outlined in the Will.
There is no legal requirement that to use a Solicitor for Probate, but the complexity of this process means that having specialist legal support on hand can be hugely beneficial for the Executor(s). For those without a background in law or accountancy, being able to rely on an experienced Probate Solicitor can remove any confusion or uncertainty, giving you the peace of mind that comes with knowing that each stage has been carefully and accurately negotiated. This is particularly the case if the Estate in question is likely to be liable for Inheritance Tax, where there are questions about the validity of the Will, where the Estate has complex arrangements such as assets held in trust, or where assets are held overseas.
Contact our Probate Solicitors in Ruislip, Middlesex
For jargon-free, compassionate legal advice on all matters relating to Wills and Probate, speak to the Wills, Trusts and Probate Lawyers at The Sethi Partnership Solicitors today by calling 0208 866 6464 or complete our online enquiry form.