Dealing with the estate of a loved one can be a difficult and emotional time. Making sure you have reputable and experienced solicitors to help guide you through the process is crucial. When someone dies, their estate must be dealt with in accordance with their wishes (if they have left a will) or the law (if they die without a will).
This is when It’s a good idea to have a solicitor look over your will before you die, to make sure it’s legally binding. Even if you have a will, though, you may still need a Probate solicitor to help with the estate administration after you die. This is a very stressful time, and having a solicitor to help with the legal and financial aspects can take a load off your mind.
Key Information
- The person dealing with the estate of the person who has died is called an executor or an administrator.
- An executor may have to apply for a special legal authority before they can deal with the estate. This is called probate.
- Everything owned by a person who has died is known as their estate. The estate may be made up of money: property, possessions or other assets.
How to deal with the property of a person who has died?
The first thing you need to do is contact a Probate solicitor. They will be able to help you deal with the estate and can advise on the best course of action.
If the person who has died left a will, their property will be distributed in accordance with their wishes and the solicitor will help to administer the estate and make sure that the property is distributed according to the terms of the will.
If they did not leave a will, they can help to apply for a grant of probate and administer the estate according to the law. The law states that the estate must first go to the spouse or registered civil partner, then to the children, then to other relatives. The Probate solicitor will be able to advise on tax matters and can help to resolve any disputes that may arise.
What will a Probate solicitor do?
A Probate solicitor can help with all aspects of the estate administration, including:
– Applying for a grant of probate or letters of administration
– Collecting assets and paying debts
– Distributing the estate in accordance with the terms of the will or the law
– Advising on tax matters
– Resolving disputes that may arise
Probate solicitors can help to make the process of dealing with a loved one’s estate as smooth and stress-free as possible. They can provide invaluable advice and assistance at what is often a difficult time.
Is probate required if there is a Will?
If the deceased left a valid will, then in most cases probate will not be required and the estate can be administered without involving the court.
However, there are some situations where probate may be required even if there is a will. For example, if the estate includes property held in joint tenancy or trust, or if the value of the estate exceeds the Inheritance Tax threshold.
In these cases, the executor named in the will would need to apply for a grant of probate from the court. Once the grant has been obtained, they can then begin to administer the estate.
When should I contact a Probate solicitor?
As soon as possible after the person dies. The sooner you contact a Probate solicitor, the sooner they can start dealing with the estate.
Can I deal with the estate myself?
You can if you want to, but it’s often a good idea to get professional help from a Probate solicitor. The process can be complicated and time-consuming, and a solicitor will have the experience and expertise to deal with the estate efficiently.
They can also help to resolve any disputes that may arise and can advise on tax matters.
What services does Pearce Legal provide for Probate Solicitors?
Pearce Legal provide a comprehensive Probate service, which can be tailored to your individual needs. Based in Solihull, they cover the whole of the West Midlands.
Their services include:
- Advising on the best course of action
- Dealing with the estate administration
- Applying for a grant of probate
- Advising on tax matters
- Resolving any disputes that may arise
They can help to administer the estate, prepare the necessary tax returns and deal with any disputes that may arise. Pearce Legal can also advise on the best way to distribute the assets of the estate.
For more information on our Probate services, please contact
https://pearcelegal.co.uk/probate-solihull
How much does it cost to use a Probate solicitor?
Fees vary depending on the size and complexity of the estate but start at around £500 + VAT.
If the estate is complex, or there are disputes among the beneficiaries, a Probate solicitor can help to resolve these issues. They can also help to make sure that the estate is distributed according to the terms of the will, and can advise on tax matters. In most cases, you won’t need a Probate solicitor if there’s already a will in place.
Disputes
Disputes among beneficiaries are one of the most common reasons for using a Probate solicitor. If there is no will, or if the terms of the will are unclear, a Probate solicitor can help to resolve the issue. They can also advise on the best way to distribute the assets of the estate.
In some cases, a Probate solicitor may be able to help to reach a compromise between the parties. However, if the dispute cannot be resolved, it may be necessary to go to court.
Debts
If the deceased owed money to creditors, the Probate solicitor can help to deal with these debts. They can also help to negotiate with creditors on behalf of the estate and can advise on how to pay off debts in the most efficient way.
Inheritance Tax
If the value of the estate is over a certain amount, Inheritance Tax may be payable. The Probate solicitor can help to calculate the amount of tax due and can advise on how to pay it. They can also help to negotiate with HM Revenue & Customs (HMRC) or Internal Revenue Service (IRS) on behalf of the estate, and can apply for special reliefs which may reduce the amount of tax due.
The Probate process can be complex, and it is advisable to seek professional help from a Probate solicitor. They can help to make sure that the estate is administered correctly, and can advise on tax matters, debts and Inheritance Tax.
Conclusion
A Probate solicitor can be a valuable asset when dealing with the estate of a loved one. They can help to make sure that the estate is administered correctly, and can advise on tax matters, debts and Inheritance Tax. In most cases, you won’t need a Probate solicitor if there’s already a will in place. However, it’s always a good idea to seek professional advice to make sure that the estate is administered correctly and to avoid any potential disputes.
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