Discovering The Truth About Probates

How to Obtain Probate in Easy Steps

If you want to obtain probate easily, then you should take the steps given below.

When a person dies and leaves a will, then the process of dealing with the deceased person’s estate which includes money, possessions, and properties is called probate. A grant of probate from the probate registry should be applied for by the executor of the will so that he can collect money from banks, building societies, and other organizations which hold assets belonging to the deceased person, and sell or transfer ownership of a property. Assets will remain frozen and inaccessible if the executor of the will does not apply for a grant of probate from the probate registry.

A straightforward estate would allow the executor of the Will to obtain probate without the need of a solicitor.

You cannot obtain probate if there is only a copy of the will available. It is important to have the original will so that the appointed executor will be established. The Executor of the will is responsible to apply the probate and carry out the terms of the will.

Every interested parties should be notified of the death. The notification should be done in writing and the death certificate should be enclosed. These interested parties include banks, building societies, insurance companies, share registrars, investment and ISA providers, pension providers, tax and benefits authorities, creditors, etc.

A date of death valuation of the deceased’s assets needs to be obtained since this information has to be declared on the probate and inheritance tax forms.

There is no payable inheritance tax if the value of the deceased person’s estate is lower than the inheritance tax threshold. If the spouse of the deceased is the sole beneficiary of the estate, there is also no payable inheritance tax. The inheritance tax threshold is increased if the deceased was a widow or a widower.

Inheritance tax forms should then be completed. There are forms to be completed for estate values lower than the inheritance tax threshold, and another form if inheritance tax is payable.

You need to submit to the probate registry a completed probate application form, which is to be submitted together with your inheritance tax form, probate application fee, and any other documents requested by the probate.

The probate registry then issues the grant of probate if there are no problems or further questions. This will then allow the executor to administer the estate and implement the terms of the will.

Depending on how quickly you proceed, this whole process can take between 4 to 12 weeks.

If the estate is complicated, then you need a solicitor to help in the execution of the will.

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