Trusted, Bromley Based Probate Support & Advice
Helping Take The Strain When Dealing With Probate
From paying inheritance tax to executing a will and other matters such as paying off debts, obtaining tax clearance and managing any complicating factors, there is a lot to consider when handling probate.
The role of personal representative is both complex and onerous. In addition, getting it wrong could be costly personally even if the personal representative is not a beneficiary of the estate.
Getting the right advice will not only guide you through the process, but help make sure your duties are properly fulfilled.
When May Grant Of Probate Be Needed?
Where property is involved
Where there's bank accounts over £5k
The deceased left no will
Stocks and shares are owned
You are named as an executer
Where property & assets aren't jointly owned
Got Questions?
What is probate?
Probate has become the term commonly associated with handling an individual’s estate after they’ve died but it is just one component of administering an estate. Estate administration is so much more. It’s the process of sorting out a deceased person’s legal and tax affairs. Everything from bank accounts, belongings and property to debts, pensions and Inheritance Tax.
What is involved in a grant of probate?
There are two stages and this includes completing the probate application which also involves submitting an inheritance tax form to HMRC, then submitting the application to the probate registry. There are a number of specified steps within each stage.
How long does it take?
On average, probate takes around a year from the date of a person’s death to the estate being distributed. It may take less time, but even a simple estate can take a minimum of six months to complete the process.
Do I need probate?
If assets were held jointly, probate is generally not required as these assets pass by survivorship to the survivor. Some jointly held assets (usually property) will however need a Grant if particular arrangements have been made during lifetime.
What is estate administration?
Estate administration is the process of sorting out a deceased person’s legal and tax affairs. Everything from bank accounts, belongings and property to debts, pensions and Inheritance Tax.
Why use a probate specialist?
There is no requirement for you to use a probate specialist, however as executors are personally liable for any errors or challenges, it is strongly recommended. Any errors made could personally prove very costly from a financial perspective.
We Believe In Taking The Time To Help You Make An Informed Decision
Initial Consultation
Face to face, over the phone or online
Advice & Drafting
We discuss and draft your documents together
Documents Finalised
Once you are happy, you sign the necessary documentation
Submission
Where required, documents are submitted and stored safely