Contact our team of experts for any advice along with a free no obligation quote.
Contact our friendly team of experts for any advice along with a free no obligation quote.
Probate is the process of proving that a Will is valid and confirming the Executor’s authority to administer the estate of a person who has died. Although Probate actually relates to an Estate where a Will was made, even if there was no Will, a similar process will still be followed and this is often referred to as Probate as well.
A Grant of Probate is the document that is issued to you by the Probate Registry. The document confirms your right to administer the deceased’s estate. This includes cashing the estates assets and distributing them as outlined in the Will.
This usually depends on the value of the estate and whether there is property or land included. If there are only cash assets, you may not need Probate. You should check with the individual financial institutions where the cash assets are held as their threshold for Probate may be as low as £5,000 or as high as £25,000.
A Will is a legal document which sets out how you wish your estate to be dealt with after your death. For a Will to be valid it must be in writing and comply with certain formalities. A Will states who you have appointed to deal with your estate, as well as who you wish to benefit. A Will can also include your funeral wishes and who you have appointed as guardian(s) of your minor children.
If you care about what will happen to your estate after you die then you need a Will.
Whatever your age, if you’ve assets eg, a house, savings, or a business, and people or others you’d like to look after, then you need a will.
It is a common misconception that if you are married, your spouse will automatically inherit all of your estate. This is not necessarily true. If you do not have a Will, the law will decide what happens to your estate and it can be drastically different from your wishes.
Making a Will is important whether you have children or not. It ensures that those whom you wish to benefit are provided for financially, and if you do have children it allows you to appoint guardians to those who are under the age of 18.
Making a Will does not attract the inevitable; it merely ensures that you have your affairs in order and avoids loved ones having to face unnecessary legal and financial difficulties at a time of bereavement.
If you die without a Will, your estate will not necessarily pass to those you wish to benefit after your death. When you die with no Will you are said to die intestate. When this happens under English law, there are specific rules that set out who can administer your estate and what will happen to your property. This may be vastly different to your wishes!
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