What is Probate?
Probate is the process of proving who has authority to deal with an estate. An estate is a mixture of land, bank accounts and personal possessions owned by the deceased. Probate is the term for the authority granted by the Court when there is a Will appointing executors to handle the administration of an estate.
If there is no Will, the process is the same as when the deceased died leaving a Will however the terminology is different and the people who handle the estate are known as Administrators. There is a list prescribed by law detailing who can act as an administrator in the event there is no Will.
If someone dies without leaving a Will they are said to have died intestate. To prove that they have the authority to deal with the administration of the estate the administrators will ask the Court to grant them what is known as Letters of Administration. The difference in terminology is that if you are appointed by Will you are known as Executors and if there is no Will you are known as Administrators. The role is that of a Personal Representative.
Not everyone requires a Grant of Representation or ‘probate’, to find out if you need a Grant of Probate please contact Amphlett Lissimore on 020 8771 5254 and speak to someone in our team.
Leave it all to us
We can help you with all of this, whether we have been appointed as executors or not, and whether or not we drew up the will. Call us on 020 8771 5254 to arrange a call with our probate team.
We can help you by:
- Advising and explaining the terms of the will
- If there is no will we can advise on who will be entitled to inherit the estate
- Obtaining a grant of representation from the Probate Registry - this is the official authorisation for executors or administrators to deal with the estate
- Identifying and valuing assets in the estate
- Preparing a tax return for HM Revenue & Customs
- Paying any taxes due
- Preparing accounts to show what the estate consists of and how it is to be divided up
- Distributing property and money to the beneficiaries
We can also advise whether any tax can be saved by an agreement to alter the way the estate is divided up - click here for more about inheritance tax.
We will tell you what has to be done to administer the estate, and how long it is likely to take. Moreover, we will keep you fully informed of progress towards the final distribution of the assets.
We will give you an estimate of our fees and other expenses before we start work, and if additional costs may have to be incurred we will always advise you first.