Probate
The loss of a loved one is always very difficult for the bereaved family and friends, which can be made more difficult by the added responsibility of dealing with the deceased person’s finances. There are many ways we can help ease the burden and have helped many families during this sad time. Above all, we are approachable, sympathetic and professional throughout the administration of estate.
Probate explained
When a person dies somebody has to deal with their estate by collecting in all the money, paying any debts and distributing the estate to those people entitled to it. This is referred to as ‘administering the estate’. A deceased person’s estate is made up of cash in banks, investments, property, personal possessions, shares and so on.
If the person who has died has left a Will they are known as having died ‘Testate’. The Will usually names one or more people to act as Executors of the Will. The Executors are the people responsible for dealing with the estate. If you are the Executor of a Will you will usually need to apply for a Grant of Probate. Probate literally means the proving of a Will. If Probate is granted to you as an Executor it means that the Court are satisfied that the Will presented is the last Will of the deceased and that you are the person entitled to deal with the estate by law.
If there isn’t a Will, the process is more complicated. The deceased is deemed to have died ‘intestate’. In England the government have drawn up the Intestacy Rules which decide the way an estate will be divided when the deceased has not made a Will. Click on the useful advice link to see a flow chart detailing the intestacy rules.
Unlike having a Will where the Executors are chosen before death, with intestacy, anyone who has the right to benefit from the estate may apply to act as administrator for the Will. In this case, the legal document needed to deal with the estate is known as Letters of Administration. The most common problem with intestate estates is that the persons whom the deceased would have liked to benefit from their estate usually don’t.
