The Grant of Probate is the document which allows the executors access to deal with the assets of the deceased’s estate. This includes enabling them to collect in monies from bank accounts, make claims on life insurance policies and transfer or sell properties belonging to a deceased person.
IS PROBATE NECESSARY?
If the deceased owned a house or land then a grant of probate is always required. In other cases, most financial institutions want to see the grant of probate if the value of the asset is over £15,000; although each institution sets their own limit and some are lower than £15,000.
It is possible for an executor to deal with the application for grant of probate in person themselves without the assistance of a solicitor. However, it can be time consuming and sometimes confusing, with a lot of paperwork to deal with at a time when you may not feel up to it. For this reason many executors choose to instruct a solicitor to act on their behalf.
At FDC Law we work together with our executor clients in a completely flexible manner. We initially arrange a without obligation meeting to discuss the extent of the deceased person’s estate. We discuss whether or not the executors require any assistance and if so the extent of the assistance they require. Some clients ask us just to obtain the Grant of Probate for them, whilst others ask us to take on the whole administration process which would include valuing the assets, obtaining Grant of Probate, paying any legacies and liabilities, preparing a full estate account for the executors' approval and then carrying out the distribution of the estate based upon the terms of the Will with the executors authority.
To arrange a no obligation meeting, please contact a member of the Private Client Team on 01761 409423/409450 (Midsomer Norton) or 01373 475610 (Frome) 0117 916 1088 (Keynsham)