Heritage Probate Services.
What is probate?
Probate is the process involved in administering a person's estate after their death. Either a Grant of Probate or Letters of Administration will usually need to be granted by the Probate Registry before this can take place. Both of these documents give one or more people legal authority to manage the deceased person's affairs, including accessing their assets, i.e. personal possessions, property and money.
The process involved for both executors (where the deceased left a valid will) and administrators (where there was no will) are similar. Whether there is a will or not, administration of the estate is required.
In summary, estate administration refers to all activities relating to the valuation, collection and distribution of the deceased's estate. This will include tax, legal and administrative activities and due to the complex nature can take a very long time with many forms to be completed, chasing companies over the phone and lots of paperwork.
Many of these administrative duties within estate administration apply even if there isn't a valid will in place, and even if probate isn't required.
Administering an estate has several stages to it and varies in complexity from person to person depending on a number of factors such as the size of the deceased's estate, whether there is Inheritance Tax due, how many beneficiaries are named in the will, etc.
How can we help with probate?
Our expert team can offer support and peace of mind by dealing with some, or all, of the process on your behalf.
Obtaining the Grant of Probate
You may choose to instruct us on a "Grant only" basis and will provide us with the valuations and details about the estate. We will prepare the necessary legal documentation and tax returns and apply for the Grant at the Probate Registry, leaving you to deal with the rest of the estate administration.
Alternatively, you may instruct us to take full responsibility for dealing with the estate administration from start to finish. In that case, we will:
• Notify banks, building societies, investment companies and liabilities in estate of your loved one's death;
• Complete a valuation of the estate listing all assets and liabilities;
• Submit inheritance tax and Oath of Executors to obtain Grant of Probate;
• Calculate inheritance tax and liability and arrange payments;
• Arrange for accounts and investments to be closed;
• Settle outstanding liabilities and make interim distributions to beneficiaries, where funds allow;
• Ensure that after the property sale (where applicable), all final utility bills are settled;
• When all assets have been collected and liabilities paid, we will complete final Estate Accounts for the executors to approve and make final distributions to the beneficiaries.
If you would like to instruct Heritage Probate Services to act on your behalf in administering your loved one's estate, please contact us today on 01635 292356 to discuss your needs with our friendly team. We will advise you of our highly competitive prices and will ensure that you are guided though the process with professionalism and sensitivity at all times.
Call us today on 01635 292356 to arrange a consultation meeting!