When anyone dies the most important document is the Will. The people entrusted to sort everything out are the Executors and their main task, after arranging the funeral, is to gain Probate. Whether or not there is a valid Will, if the deceased person owned more than £5,000 worth of assets, then a Grant of Probate may be required.
Probate is the legal process required to ascertain who has the authority and responsibility to deal with the deceased’s affairs. Once granted, the Executors must pay any taxes due, close all bank accounts and sell any property. All the outstanding debts and funeral expenses are then paid with the remainder being distributed amongst the beneficiaries in the Will.
This can be an arduous task for anyone who has no experience of Probate, not to mention time consuming, at what is often a time of great sadness and confusion.
If the estate is worth more than £325,000 it may be liable to Inheritance Tax. It would be essential for the Executors to enlist professional help in such circumstances, especially since they become personally liable for any debts.
At Castle Wills we provide a discreet and confidential service, covering every aspect of Probate and the administration of the deceased person’s estate. Unlike other Probate providers, we offer an hourly fee service (we only charge for what we do) and we are often much quicker than many larger firms.