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number is 00070079
Probate
Probate' is a term commonly used when talking about applying for the right to deal
with a deceased person's affairs. It's may also be referred to 'administering the
estate'.
This page contains information about what to expect if a loved one's estate is in
probate. In practice, different terms are used, depending on whether or not the
deceased person left a will and where they lived. This information covers probate
in England and Wales.
If the person who has died leaves a will
Once the location of the last Will and testament of the deceased has been located,
it will identify the persons which the deceased appointed as his legal representatives
to deal with his estate upon death. These persons are known as “the executors”.
One or more 'executors' may be named in the will to deal with the person's affairs
after their death.
The executor applies for a 'grant of probate' from the probate registry. The grant
is a legal document which confirms that the executor has the authority to deal with
the deceased person's assets (property, money and possessions).
The grant can be used by the executors to show they have the right to access the
deceased’s funds such as bank and building society accounts, sort out finances,
and collect all the assets pay all the debts and testamentary expenses and share
out the deceased person's assets as set out in the will.
If the person who has died didn't leave a will
If there is no will, a close relative of the deceased can apply to the probate registry
to deal with the estate.
In this case they apply for a 'grant of letters of administration'.
If the grant is given, they are known as 'administrators' of the estate. Like the
grant of probate, the grant of letters of administration is a legal document which
confirms the administrator's authority to deal with the deceased person's assets.
Inheritance Tax
The personal representative won't be granted probate until some or all of any Inheritance
Tax that is due on the estate has been paid
The probate process can be a long and costly one, and those that are unfamiliar with
the whole concept often have many questions regarding this process. Are you currently
going through the probate process yourself and need a helping hand? Not sure what
the laws and requirements are? At Conway & Co., we have the experience and expertise
can provide you with the information that you need about probate law and the probate
process. We can explain to you the specifics of your probate situation what laws
apply, how long the process will take, and how much the process will cost are