Either a Grant of Probate (if there is a Will) or Letter of Administration (if there isn’t) is applied for by the executors or administrators. The grant is the court’s authority for that person to deal with the assets of the deceased and distribute them in accordance with the terms of the Will or the Intestacy Rules.
If there is a valid Will, the executors named will be legally responsible for identifying the assets and liabilities of the estate, paying all debts and distributing the net estate in accordance with the terms of the Will. If there is no Will Intestacy Law determines not only who receives the assets of the deceased but also who is eligible to deal with the administration of the estate.
When the deceased has left a minimal amount of funds (a few thousand pounds or less) and only a few personal possessions it is unlikely that a Grant of Representation is required.
When there are a significant amount of assets, or if the estate is particularly complex, a Grant of Representation is likely to be needed to administer the estate effectively.
For those who are unfamiliar with the process, probate can be a daunting task, which can often involve exhaustive enquiries into debts, assets or pensions.
Conducting the Probate yourself can seem like an attractive option, but an understandable lack of knowledge in technical legal areas can often lead to mistakes and delays to the process. In turn, this can create pressure, liability and stress at what is already a difficult time.
Administering an estate can seem like a manageable task. However, it can quickly lead to executors/administrators trying to undertake a task without essential knowledge.
Common mistakes made by those who undertake Probate include:
“DIY” Probate can also result in mistrust between family members and potentially, greater costs to the estate to put things right.
Verisona Law are experienced probate solicitors. By working with us, you’ll have a single point of contact for all your questions and queries, which will be managed with professionalism and care.
While the price of “DIY” or online probate services may appear lower, potential hidden costs, additional stress, countless hours on the phone and additional tax liability is something that you do not need to worry about while you are grieving for a loved one.
Our experienced Trusts & Estate team is here to support you at this difficult time with the expertise you expect and the compassion you deserve. Contact us today on 023 9298 1000or email firstname.lastname@example.org
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