What do I do when somebody dies?
The loss of a friend or loved one can be a very stressful time with many people needing to be notified in the first few days. In addition to the immediate tasks you need to attend to, such as arranging the funeral, there is a lot of paperwork to be dealt with and official documents which need to be completed over the next few weeks.
What is Probate?
One of the duties you may have to undertake as executor is applying for Probate. Probate is the legal process that takes places after someone’s death if a valid will is present and the estate is in excess of £5,000. It is the job of the executor to obtain a grant of probate.The grant of probate gives the executor legal permission to transfer assets i.e. distribute the estate as outlined in the Will. Once an executor starts to act, they become personally, legally and financially responsible for their actions.
Applying for probate can be both daunting and time consuming. An executor will need to:
- Make an exhaustive list of all the assets and debts including utility bills.
- Settle all the deceased’s debts and pay any inheritance tax due.
- Payment of tax becomes the personal responsibility of the executor and may leave them open to personal liability and penalties.
- Arrange for the care of any minor children and pets.
- Apply for the grant of probate.
- Locate all the beneficiaries and distribute the contents of the Will.
Let us help
FutureSafe Will & Estate Protection Advisers can help by offering a fixed fee probate service based on the value of your estate, all fees are quoted in advance of any work being undertaken. This means a considerable saving on the fees you would typically need to pay a high street solicitor or bank.
We can offer your loved ones help, information and support at a time when they need it most, our professional probate teams have with a sympathetic and patient approach when dealing with bereaved relatives.
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