Apply For Probate Online – Applying for probate online is a process that isn’t always easy to deal with.
The reality of a loved one passing away is challenging and it can be an emotional time for all involved. Which is why having to deal with their financial affairs, their estate, and their will can be difficult.
At Probate Solicitors Near Me, we understand that. It’s the reason why we started – to help make the process as simple as possible so you don’t need to spend time worrying about what happens next.
Apply For Probate
Applying for probate is an important legal process following the death of a loved one. A grant of probate confirms that the executor of the will has the authority to administer the estate of someone who has died – which means the assets such as houses, investments, money, and anything else can be distributed.
The process can be simple or it can be complex – it depends entirely on the value of the estate, how the assets are owned, and other important factors.
However, before you can get to that stage, you need to gain the legal authority to act for the deceased.
In England, Wales, and Northern Ireland, this is known as a grant of probate, and once granted, it’ll mean you can access their assets such as bank accounts, investments, pensions, and anything they owned.
There are exceptions to the rule, and if the estate is worth less than £10,000, or if the deceased owned everything jointly with another person who is alive, then you don’t need to worry about a grant of probate.
If someone dies without a will, then the process is a bit more complicated, and it would be prudent to seek legal advice from a solicitor as soon as possible to work out how to proceed.
How to Apply For Probate
The probate application process has many stages, the first of which
This must be done within five days of the death in England, Wales, and Northern Ireland, and you’ll then be given a death certificate as confirmation.
After that, the rest of the process will work as follows:
- Step one is to gain a valuation on the estate
- You’ll then file inheritance tax (IHT) forms
- After this, probate applications will be filed
- Then probate fees will be paid
- And finally, IHT will be paid
Getting a valuation on the deceased’s estate will involve establishing all of their assets and liabilities, as well as locating all accounts in their name.
This may be straightforward, but quite often can become complicated if there are multiple pensions, investments, properties, or assets in their name.
Any properties that are included in the estate will need to be valued as well.
This can be done by looking at comparable house sales, but if IHT is a potential issue then a written valuation will need to be obtained – this should be completed by an estate agent or a surveyor to ensure it’s accurate and to avoid any issues further down the line.
As a reminder, the current nil-rate band for IHT is £325,000. Inheritance tax is currently taxed at 40% of anything above the £325,000 threshold – so, if you’re estate is worth £400,000, then you’ll pay £30,000 in inheritance tax since that’s 40% of £75,000.
Probate Solicitors Near Me
At Probate Solicitors Near Me, we’re here to guide you through the entire probate process.
Not only that, but as all of our solicitors are hand-selected to be the best at what they do, we can assure you of a high quality, personal service, near to where you live.
All you need to do is provide us with a few contact details and the type of help with probate that you are looking for and we connect you with a probate solicitor near you…
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