Expert Probate Solicitors can make the Probate process easier for both executors and beneficiaries.
We have a highly experienced specialist probate lawyers in Romford ready to assist you.
We can assist with dealing with with and distributing straightforward estates, often for a fixed fee but we can also help in more complex situations where assets, liabilities and relationships are not straightforward.
Our specialist probate lawyers provide experienced, flexible and cost effective advice on all aspects of probate including :
- Advice for executors on duties, the process, help with the probate application, dealing with HMRC (including payment or other arrangements in relation to Inheritance Tax (IHT)) – we can assist you in avoding errors or becoming liable to the estate or others for mistakes.
- Liasing with and accounting to beneficaries including enquiries from chartity beneficaries
- Assistance with probate valuation of assets including property and shares
- Investigating what the assets and liabilities are of the estate and protecting the estate from claims.
- Representing beneficiaries who have concerns about the will, the actions of executors or who need a Deed of Variation for the Will
- Arranging complicated estates for exampl where there are multiple properties, the deceased has assets abroad or shares in a family or other business
- Probate or will related legal disputes
What is Probate (or Grant of Representation)?
Probate is the overall legal term used, after someone has died, where his or her estate (assets and debts) is administered, assets are distributed to beneficiaries and debts and any taxes are paid. In simple terms, the executor needs to have the legal power and authority to deal with the deceased’s legal affairs and carry out the deceased’s wishes. Where a will has been left executors are normally named to fulfil this role.
If there is no will Probate is not obtained but a Grant of Representation (also referred to as Letters of Adminstration). The background role is the same for the adminstrator of the estate but the assets are distributed as determined by the statutory rules rather than as the deceased wanted.
Most people refer to dealing with a deceased estate by the generic term ‘probate’.
We can assist either named executors or adminstrators to be able to complete the legal processes needed. We can apply for a grant of probate/letters of adminstration, deal with the tax (IHT forms), pay the inheritance tax out of the estate and distribute the estate.
Basic Probate Process
The main steps usually include :
- Checking there is a will, that it is valid and is the latest version of the will
- Thoroughly investigating all assets and liabilities of the deceased, including all property, business assets and any assets abroad.
- Obtain any relevant valuations on the key assets as at date of death
- Where appropriate , advising on and drafting a deed of variation for a will – this may be sensible to mitigate or save Inheritance Tax in some cases or allow beneficaries to pass inherited assets to their beneficaries to avoid potential double charges to IHT
- Preparing IHT tax forms and paying any Inheritance tax
- Applying for a Grant of Probate or Grant of Representation (Letters of Administration)
- Dealing with the sale or transfer of any property, assets and shares.
- Paying debts of the deceased including mortgages and debts due to local councils etc.
- Preparing intermin and then final probate accounts and information for beneficiaries
- Distributing the deceased’s assets from the estate to the beneficiaries