Here at 4 Probate and Wills we help our clients understand which of our services will help them in the most efficient way. In England and Wales, Probate refers to financial processes involved in dealing with the property, money and possessions (called the assets or estate) of a person who has died.
When is Probate needed?
If the owner of property or land or significant cash assets passes away, probate will be required in order for their loved ones, or the Executor named in their Will to claim, transfer, sell or distribute any of their assets.
Reducing financial risk
If money is owed to a bank, HMRC or any other institution when someone dies, it is crucial that a notice is given by the Executor so that companies can make a claim against the estate. Failure to comply could leave the Executors of the Will liable, which can prove very costly and extremely stressful during what is already a very difficult time for them.
We’re here to make sure that any debts, Inheritance Tax and administrative responsibilities are dealt with as swiftly and efficiently as possible.
How is Probate obtained?
It is necessary for the relevant application forms to be completed in order to apply for probate. This is done by gathering all the required relevant information about the deceased. When Probate has been granted, the Executor of the Will has the legal right to manage any property and assets of the deceased as stated by their Will. If there is no Will in place, the person who should deal with the estate is decided by law, which comes with a risk of property and possessions not being passed on to the people the deceased would have chosen.
Our Probate service
We understand that it is important that the handling of an estate is as simple and hassle-free as possible. That’s where our Probate service comes in, as we can help with the administrative duties involved in obtaining probate.
We offer two levels of Probate service:
Option 1: Comprehensive Service
This involves the team of specialists at 4 Probate and Wills, along with our legal partners, administering the entire estate on behalf of the executors which includes:
Valuation of all assets and liabilities.
Completion of all tax forms and settlement of any Inheritance Tax, Income Tax and Capital Gains Tax.
Drafting and submitting of all documents so that you can obtain a Grant of Probate or Letters of Administration if there is no Will in place.
Collecting or transferring of all assets, including bank accounts, investments, shares, etc.
Handling the sale of any property and completing any other conveyancing matters.
Producing the estate accounts on completion.
Distributing the estate in accordance with the Will and/or precise wishes.
Creating and managing any Trusts that are required from the Will.
Protection against creditors making a claim on the estate after the funds have been distributed.
Fixed price, agreed prior commencement .
Protection for the executors when the estate is ditributed, this is a complex process which should not be taken lightly
Option 2: Grant Assist
This is the most popular Probate service, and the most cost-effective way to apply. It is suitable when you require support with your personal application and you want to remain in control.
It includes all of the following:
Free consultation to ascertain the suitability of this service.
Completion of a personal application and any necessary HMRC tax returns for you to sign and submit to the Probate Registrars.
Ensuring that the executor or appropriate person remains the applicant.
In the unlikely event the Probate Registrar asks for additional information, you will liaise with us to complete any additional work.
You may wish to place a Statutory Notice in The London Gazette to notify creditors of the estate, which we strongly advise and can assist with.
If you are unsure of the deceased’s financial situation at the time of passing, we can arrange an estate search to locate accounts and investments you may not be aware of.
Fixed price service from £834 additional fees may be required dependant upon your instruction. The current application fees is £273 in addition, payable to HMCTS for estates in excess of £5000.
This administration service is ideal if you can provide all the information to allow us to complete the application with you. The legal statement will be signed by you.
Any additional work that requires our Solicitors intervention will be discussed with you if required.
Estate distribution can be complex and we recommend legal advice at this stage.
We’re here for you 24/7
Ready to find out more? Call, email or fill in the contact form and we’ll get back to you very quickly. We monitor our emails 7 days a week and also offer an out of hours service – if it’s an emergency, simply state this in your message and provide as much detail as possible.