Dealing with bereavement is hard enough, but navigating the legal process for settling someone’s affairs can make that even harder. Probate is the process your loved ones will need to go through when dealing with the estate of someone who has died. Whoever you appoint as executor will have to follow the specific rules that set out how you notify the authorities and distribute the estate. This can be a complex procedure with many steps to go through. It’s another complicated legal process which adds extra stress onto an already distressing time.
Fees for Probate can run into thousands and take months to complete. A typical high street solicitor will charge between 3% and 5% of the estate, which means that if you have an estate worth £1,500,000, the final bill could be £45,000.
Use our Probate services to fix the cost now so your family aren’t left with large bill on top of everything else they’re dealing with.
The Wright Wills Way…
Our legal team can expertly navigate the Probate process on your executors behalf, making sure everything complies with all legal obligations and settled within a timely manner. All the while looking after your loved ones in an approachable friendly manner, avoiding any complicated legal jargon, so your loved ones are supported every step of the way.
Do I need Probate services?
Any one can be an executor or go through probate, you don’t necessarily need to have legal support however:
- It can be complicated and lengthy, requiring coordination with many different entities to be correctly processed
- There are strict timelines which require steps to be completed within a certain time, which can be hard to manage at the same time as grieving
- If done incorrectly, such as if an incorrect amount of tax is calculated, the executor would be liable for any problems
The Money Advice Service suggests using a probate specialist if:
- The value of the estate is over the Inheritance Tax threshold and the estate is still earning a regular income where there are complicated taxes due. The threshold for the 2016-17 tax year is £325,000
- The deceased died without a will, and it’s a complicated estate to administer
- There are doubts about the validity of the will
- The deceased had dependents who were deliberately left out of the will, but who might want to make a claim on the estate
- The estate has complex arrangements, such as assets held in a trust
- The estate is bankrupt (also known as insolvent)
- There are doubts that the estate is bankrupt
- The estate includes foreign property or foreign assets