Probate Solicitors: What Is Probate?
When a loved-one dies you may have the responsibility of administering their estate through the probate process.
This can be very emotionally draining as you have to sort through all of the deceased’s financial accounts, Wills, and other documents.
At Else Solicitors, we recommend that you instruct a legal representative to help you collect assets, sell property, and wind up the estate.
Our team of probate solicitors have answered some frequently asked questions that surround probate cases.
What Does Probate Mean?
Probate is a legal term to describe the process that is followed after someone has died.
A nominated individual, group, or company is given the task of ensuring that the dead person’s possessions, property, and assets are distributed in the way they wished and their debts are paid.
What Is A Grant Of Probate?
A Grant of Probate is a court order that gives the legal authority to administer the estate
Who Can Apply For Grant Of Probate?
The people who can apply for the Grant of Probate are the personal representatives (PRs) of the estate.
These people are the executors that the deceased has named in their Will or the deceased’s next of kin if there is no Will.
Our probate solicitors can submit the Grant of Probate forms on your behalf.
How Long Does Probate Take?
If the deceased’s case is relatively simple, applying for a Grant of Probate is an easy process. In more complex cases it can take months to get in the position to apply for a Grant of Probate.
Once the Grant of Probate forms have been submitted it can take around six weeks to be delivered to you.
When the Grant of Probate has been received the deceased’s assets need to be ‘called-in’. This can include selling or redistributing shares, claiming life insurance policies, and selling property. This can be a long, arduous, task that depends on a wide range of factors.
Our probate solicitors can handle this entire process for you, taking the weight off your shoulders at this difficult time.
Are There Any Probate Fees Or Costs?
If the deceased’s estate is worth more than £5000 then there is a Grant of Probate application fee of £155. This is paid to HM Courts and Tribunals Service.
Once an executor has been given the Grant of Probate, they will have to use the estate to pay off the deceased’s debts including outstanding bills and tax owed before distributing the remaining assets.
The executor should also place a notice in The Gazette to give any creditors the chance to claim what they’re owed.
If you would like to discuss your own case with one of our probate solicitors please call 01283 526200 or email email@example.com.