PROBATE / LETTERS OF ADMINISTRATION
What is Probate?
Probate is a legal term which is used when an Executor or family member applies for the right to deal with a deceased person’s affairs. It can also sometimes be called Administering the Estate.
If the person who has died left a Will, one or more Executors will be named in the Will and will be responsible for dealing with the person’s affairs after their death. The Executor will be responsible for applying for a ‘Grant of Probate’ which will legally confirm that they have the right to deal with the deceased person’s assets.
If the person who has died didn’t leave a Will, then a close relative can apply to the Probate Registry for Letters of Administration, giving the legal authority to deal with the estate.
Do I have to apply for Probate or Letters of Administration?
A Grant of Probate will be needed if a person dies and leaves:
- Stocks or shares
- Insurance policies
- Property or land
The organisations involved with the above items will need to see a Grant of Probate before transferring control of the assets to the Executor or family member.
A Grant of Probate may not be needed if:
- The person who died left less than £5,000
- The person who died owned everything jointly with someone else and everything automatically passes to the surviving joint owner
Your Solicitor will be able to help advise and guide you through this process.
What will I have to do if I am the Executor or Administrator?
You will have to take care of all the administrative and financial issues which naturally arise. This usually involves:
- Valuation of all assets at the date of death
- Completing the Inheritance Tax Return and the Executor's/Administrator's Oath
- Receiving the money and selling or transferring property
- Paying any tax due to HM Revenue and Customs and any debts
- Paying any legacies and distributing the balance
- Considering any Deeds of Variation and Inheritance Act claims
How can JWK Solicitors help me?
- At a time of bereavement you may need someone to take the strain of dealing with the above administrative and financial issues.
- Our specialist team have years of experience of acting in Probate matters and place great emphasis on providing a highly personalised service to clients.
- We pride ourselves on our efficiency in finalising the administration of the estate as quickly as possible, keeping you fully informed of progress and making interim payments to beneficiaries when appropriate.
JWK can help you. Get in touch today
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