Get in touch:
0800 254 5262

Probate Process

 

The Probate Process

Probate should be seen as a process of checking the validity of the will, gathering in the deceased assets, paying any tax liabilities, then making a distribution to the beneficiaries. 

 

The Deceased's Will

The starting point for any probate process is the deceased's will. Craybeck Law will review the will to confirm it is valid and suitable to be admitted to Probate. On occasions we find wills which have small defects in them as to their validity. We will explore how best to manage these defects and rectify them as necessary.

 

Executor Responsibilities

A will usually appoints two people as Executors to manage the deceased's estate. Executors have several responsibilities in regard to the probate process. For example they are required to 

    • Review the estate finances for tax purposes. 
    • Arrange valuations of the estate assets. 
    • Defend the estate from legal challenges. 
    • Pay inheritance tax.

There is also the validity of the will to consider. For a will to be accepted by the Probate Registry it must be valid conforming to the Wills Act 1837, subsequent legislation and statutory instruments. On occasions there is also a house sale to conduct or alternatively working out how the house is to pass to a particular relative who may wish to buy out other beneficiaries interest in the property.

Our uncontested probate fees which start from £1250 plus VAT assist you to make the best choices as to how you want to handle probate. Our dedicated probate team is ready to assist you. Our team consists of a qualified senior solicitor supported by his departmental team.

Craybeck Law Conducting Probate for You

By instructing Craybeck Law we will handle and manage the Executors responsibilities on their behalf. As well as handling the Executors responsibilities we will conduct an

  • Audit of the deceased's assets to confirm their ownership and ability to form part of their estate.
  • Review the will confirming it is valid and fit to proceed to probate. 
  • Secure or make safe any property which is owned by the deceased.
  • Gather in the deceased assets and make a record of these for inheritance tax purposes.
  • Review the deceased bank accounts looking for how these assets should pass to another person.
  • Does anyone owe any money to the estate.
  • Does the estate owe any money to anybody else.
  • Are there other liabilities which the deceased had which are now the responsibility of the estate.
  • Trace assets, get valuations, contact financial institutions, obtain prices for shares and securities and review any life interest trusts the deceased was subject to and if these should now continue.
  • Is there anyone making a claim against the estate which needs to be resolved. 
  • Manage the estate where there is a claim or dispute. 
  • Review any capital gains tax to be paid on additional properties.
  • Conduct a tax calculation to ensure the correct amount of inheritance tax is paid.
  • Review the entire estate to see if it can be made more tax efficient via a deed of variation.
  • Provide a report on the deceased assets.
  • Make distribution of the assets to the beneficiaries.
  • Consider if any trusts need to be set up to manage the beneficiaries money.

 

Professional legal assistance - 0800 254 5262
Craybeck Law is a virtual law firm, which means we do not have an office to visit. Instead we come to you. If you live within the M25 area or close to it, it does not costs any more for us to visit you.

Craybeck Law LLP is authorised and regulated by the Solicitors Regulation Authority (SRA No. 646667)


© 2020 Craybeck Law LLP