What is Probate?
Probate Definition: In England and Wales Probate is the word normally used to describe the legal and financial processes involved in dealing with the property, money and possessions (called the assets) of a person who has died.
Before the next of kin or Executor named in the Will can claim, transfer, sell or distribute any of the deceased's assets they may have to apply for Probate. If you own property or land you will most certainly need Probate.
When Probate has been granted through the next of kin or Executor can start to deal with the deceased person’s assets in accordance with their Will. If the deceased died without a Will the law will determine who should receive the deceased assets which is why a will is so important.
You will require Probate if the deceased estate has any number of individual assets of a certain value. The value is determined by the institution who holds the asset or funds on behalf of the deceased. Banks and building Societies have their own limits. In some cases this amount can be as low as £10,000.
Dealing with Probate can be extremely stressful, time consuming and complicated. 4 Probate and Wills have a dedicated team to either assist you or administrate the whole estate for you.
In so many cases you may also need to pay Inheritance Tax on your estate. IHT as it's known is payable to the Inland Revenue on amounts over £325,000. Quite often many people don’t have the capital to pay this and will need the SWW Trust Corporations help to fund this to enable the estate to be settled.
Our probate service starts from only £550 + VAT
Following your meeting with us, you can choose the full Probate service through SWW Trust Corporation who deal with the estate on your behalf.
The simpler service through Neil Hudgell Solicitors.
The costs for either service is listed below:
Full Probate administration service is available to deal with Inheritance Tax, House Conveyancing and full estate completion for 2% of the estate value plus VAT.
Our Basic Probate service from £550 plus VAT and Court fees.
Full Administration through SWW Trust Company.
Basic Probate application submitted by Neil Hudgell Solicitors.
For any Probate requirements, please contact one of our friendly, local team today.