This article will help you on how to obtain probate easily.
Probate is simply dealing with a deceased person’s assets according to what is written in his will. In order for the executor of the will to legally collect money from banks, building societies, and other organizations that are holding the assets belonging to the deceased person, and sell or transfer ownership of property legally, he first needs to obtain a grant of probate from the probate registry. If this is not applied for then these assets will remain frozen and inaccessible.
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. In order to establish who has been appointed as the executor of the will, the original will should be checked. Applying the probate and carrying out the terms of the will is the responsibility of the executor.
Every interested parties should be notified of the death. The notification should be done in writing and the death certificate should be enclosed. Banks, building societies, insurance companies, share registrars, investment and ISA providers, pension providers, tax and benefits authorities, creditors, and others make up the group of interested parties.
There is a need to obtain the date of death valuation of the deceased’s assets since this information needs to be included in 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. No inheritance tax is payable if the spouse is the sole beneficiary of the estate. The inheritance tax threshold is increased if the deceased was a widow or a widower.
You should also complete your inheritance tax forms. 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.
If there are no problems or questions then the probate registry will issues the grant of probate. With this grant the executor can then finalize the administration of the deceased’s person’s estate and implement the terms of his will.
You need 4 to 12 weeks to complete the whole process depending on how quickly your can proceed.
The executor of the will will need the services of a solicitor is the estate is complicated, but if it is straightforward then the executor will not have much problems in execution.