Losing a relative or a close friend is always going to be a difficult time and having the responsibility for the administration of their estate can be daunting. Dealing with legal and financial formalities can be complicated and time-consuming; therefore it helps to have experienced probate solicitors such as Goughs on your side, sharing the workload and responsibility.
Topics to be answered in this article
What is Probate?
Probate is the legal right to be in charge of sorting out their estate when someone dies. This will include their property, money and other possessions.
What is a ‘Grant of Probate?
A Grant of Probate is a legal document that may be required to administer the Estate of someone who has died. Once this document has been obtained, the Executors can then deal with all the legal, tax and administrative duties involved in estate administration.
Do I need a Solicitor to help with the Probate process?
Many people are not aware that solicitors can handle any stage of the administration process on your behalf, or simply assist with the stages you find most challenging.
Estates are not always simple and easy to administer and can in fact be quite complicated. In these circumstances, the support a solicitor can provide is invaluable, especially when there is no will or inheritance tax is payable or there are foreign assets.
Many executors are unaware that they can be held financially liable for any errors made, such as failure to pay tax due or incorrectly distributing funds. Therefore, people using the online service can potentially be placed at greater risk due to the possibility of making significant mistakes or falling victim to fraud. If in doubt over any complex probate issues, it is always best to consult a probate solicitor to ensure the estate is administered correctly.
Ultimately, the executors decide exactly how much help they require and which parts of the estate (if any) they wish to hand over to their solicitor.
How do I get probate?
If the deceased left a Will, the executor/s that are named in the will are responsible for applying for probate and handling the process.
In order to get probate there are three things you must check before applying:
- That probate is required.
- You are able to apply
Why do I need probate and how long does it take?
A grant of probate is a legal document which gives you authority to distribute the estate of the person who has passed. The grant of probate can take between 3-12 months, and in complex cases it can take longer.
How does the Probate process work?
Every estate and every Will is different. The exact probate process can vary depending on the instructions left in the Will and the assets, creditors, and beneficiaries the estate has.
These are the main steps that need to be taken during the probate process:
- Register the death to get the death certificate. This needs to be done within five days of the death in England and Wales.
- Inform organisations of the death – all banks, utility companies, insurance providers and so on. The organisations will need to close the deceased’s accounts and stop any future payments going out.
- Inform beneficiaries that they are entitled to a share of the estate.
- Submit the application for grant of probate and Inheritance Tax forms.
- Pay Inheritance Tax. The executors may need to take out a loan in order to do this, because the deceased’s assets will not have been released by the time the Inheritance Tax has to be paid.
- Pay off the deceased’s debts. All liabilities such as credit cards, loans and mortgages will need to be paid off before the estate can be shared out between the beneficiaries.
- Make a life insurance claim, if the deceased had one in place.
- Share out the assets between the beneficiaries, in accordance with the deceased’s wishes set out in the Will.
The process usually takes around 6-12 months from start to finish. Obtaining the grant of probate takes 6-12 weeks. Collecting the deceased’s assets usually takes between 6-12 weeks, but can take much longer, particularly if there is a property to sell. Distributing the assets then usually takes 6-12 weeks.
How much does Probate cost?
At Goughs we pride ourselves on fully understanding you, your challenges and what you require from us so we can agree and deliver a result that meets your needs.
To give you a rough guide, we anticipate this will take between 20 and 40 hours work at between £175 and £315 per hour, total costs are estimated at £3,500 and £12,600 (+VAT). As explained above the exact cost will depend on the individual circumstances of the matter.
Probate without a Will – is this possible?
If the person died without a Will, you will need letters of administration to prove you have the legal right to deal with the estate. These go to the next of kin such as a husband or wife, civil partner, or a child. You can’t apply if you’re an unmarried partner. In fact, you’re not automatically entitled to any of your partner’s estate. This is another reason why it is so important to make a Will.
Can a Will be challenged?
Yes, you can challenge or contest a will, if you strongly believe it doesn’t accurately represent the deceased intentions of their assets, or if you believe it is invalid for other reasons.
At Goughs, our experienced legal team is here to offer a helping hand, whether you need initial advice, assistance with a difficult stage or for someone to take responsibility for the whole probate process.
Probate without a Will – is this possible?
If the person died without a Will, you will need letters of administration to prove you have the legal right to deal with the estate. These go to the next of kin such as a husband or wife, civil partner, or a child. You can’t apply if you’re an unmarried partner. In fact, you’re not automatically entitled to any of your partner’s estate. This is another reason why it is so important to make a Will.
Can a Will be challenged?
Yes, you can challenge or contest a will, if you strongly believe it doesn’t accurately represent the deceased intentions of their assets, or if you believe it is invalid for other reasons.
Get in touch with our inheritance disputes team.
At Goughs our experienced legal team is here to offer a helping hand, whether you need initial advice, assistance with a difficult stage or for someone to take responsibility for the whole probate process.
Worried about the cost?
The fees to pay the probate solicitor are usually taken out of the estate funds, the executor is not personally liable for the cost.
How can Goughs help?
It is easy to underestimate the amount of work involved in the administration of an estate. The process can be very daunting, especially as most executors will never have had to deal with the process before as well as dealing with the loss of a loved one.
Having the support of a solicitor can make the process much more manageable. Solicitors can handle any stage of the probate process, and can provide as much help as is required. Having a solicitor to help can take a lot of stress out of the process, and can make the process move more quickly. The executors can decide how much of the work they would like to hand over to the solicitors.
At Goughs, our solicitors are very experienced in dealing with all kinds of estates. We understand how difficult it is to deal with the affairs of a family member who has passed away, and are always on hand to offer help and support at this time.
If you have any questions about probate, or would like to find out more about how Goughs can help you, please contact us today.
