It makes sense to talk about our wishes after we pass away, even if it is understandable that we...
Every estate is different, which begs the questions, How long will it take for an estate to be...
There is no one definitive answer to the question of how long should probate take. Some cases can...
It has been estimated that as many as one in five wills contains a mistake. That’s a massive...
In some circumstances, instead of probate, a letter of administration will be required in order to...
A shocking case was highlighted recently, giving details of an NHS bereavement advisor, who robbed a number of relatives and charitable organisations of thousands of pounds which were left to them in Wills.
Recent news reports, including the high-profile “Panorama” programme, have highlighted several unprofessional companies which offer probate services, based on a lack of clarified terms and conditions, resulting in their claiming extortionate fees – considerably different from those originally agreed.
If you have been named as an Executor in a Will, your first action must be to apply to the Probate Office for a Grant of Probate, which will then allow you to take over the financial affairs of the deceased, pay bills and any Inheritance Tax due, and then distribute the assets.
When thinking about calculating the value of an Estate after a person’s death, we naturally assume that there will be enough left to distribute between the Executors and loved ones or charities, after all bills have been paid.
Unfortunately, this is not always the case, and in many instances, the person’s debts far exceed the value of their Estate, making them in effect, insolvent. This scenario is perhaps more common than you may think and can result from poor financial decision making or simply be a reflection of the weak economy at that time.
Probate can be a long and lengthy process, depending on the amount of nature of the assets which are to be left to loved ones. However, it can be made considerably easier and faster, with the inclusion of specific detail in the Will.
One of the key things you will need to decide when you make your Will is who to appoint as Executors – the named individuals who will organise your funeral arrangements and administer your Estate after your death.
One of the principal considerations when writing a Will, is naming those you wish to have as...
I read an interesting news article last week about an 81 year old Australian millionaire who left...
Valuing an Estate needn't be as complicated as it sounds You’ve been appointed an Executor or...
If a friend or relative has informed you that they have made you Executor of their Will, you may...
Your
Our Ultimate Probate Guide is the perfect companion for when you are in the process of dealing with Probate.
We understand it can be a confusing and difficult process, and one most will need to deal with after the passing of a loved one. This guide instructs and advisors every step of the way.
only £19.99