Probate And Making a Will Posted by Probate Bureau , 11/07/2018

 Probate And Making a Will

What Is a Will And Why Do I Need One?


A will is a legal document that details how your possessions are distributed after death. Everyone who is over 18 and has assets they want to protect should make a will, as if this is not done your estate will be distributed in accordance with the government guidelines ( known as the Rules of Intestacy). This therefore means you have no say in who will receive your estate.


There are a few issues which are vital to remember when making a will.


If you have children under the age of 18, it is very important for you to have a will. If you die intestate (without a will) and are a single parent, Local Authority will decide who has guardianship of your children. This could be a close relative, a distant relative or a local care home. When you make a will, you can decide to whom you wish to entrust the care of your children.


Another issue is the Inheritance Tax (IHT) bill which is due on your death. Though, this can be easily fixed. If your estate is valued at over the current Inheritance Tax threshold (£325,000), then you should seek advice immediately on how you can reduce IHT payable.


We often see poorly drafted wills and wills which have been made invalid through a lack of legal knowledge. If there is a complete absence of a will and the deceased had no immediate next of kin, the estate will be distributed between distant relatives such as nephews and nieces or cousins, even when closest to the deceased know that this is not what they would have wanted.


We are member of the institute of Professional Willwriters and approved by Trading Standards so you can be assured that you will receive professional, reliable advice.


What Is Probate?


Probate is the legal and financial processes involved in dealing with the property, money and possessions of a person who has died. Before the next of kin or executor named in the will can claim, transfer, sell or distribute any of the deceased’s assets they may have to apply for probate.


How Does Probate Work Without a Will?


Probate is the legal process that occurs to deal with the assets and liabilities when a person dies. The procedure is carried out by the probate court. If an individual dies leaving a will, probate is necessary to apply the provisions of that will. This process is also important if an individual dies without having a will, and then their assets will just be distributed within the law of inheritance.


How Much Does The Process Cost?


There are several stages involved in the administration of an estate. We understand that many quotations can be misleading as it depends what stages you are being quoted for. It is not an unusual occurrence for a solicitor to charge £2,000 plus VAT to only get a Grant of Representation for you and then charge you hundreds of pounds an hour to complete the rest of the estate administration. Here at The Probate Bureau we deal with one or all the stages with clearly defined fees.


Our minimum fee for obtaining a Grant of Representation on your behalf is £750.00 plus VAT.


How Long Does The Process Take?


Here at The Probate Bureau we pride ourselves in how quickly we administer estates. A modest estate with no property to sell can be fully completed by us in 3-6 months. Estates that have property or inheritance tax issues or disputes may take longer. When we set up The Probate Bureau, it set a standard - to be half the price and twice as quick as other ‘old school’ companies. We live up to this high standard, with no loss of quality.


A simple estate can take many hours to complete and there are many legal and financial disciplines involved in any administrations. We can handle everything for you, giving you the peace of mind that all is done properly for a set fee.


How We Can Help


We are able to help in many cases where people need to move house and dispose of personal property. If a person is downsizing or moving into residential care, this can be a hard task for the family, especially when family members live far away. We can offer a comprehensive house clearance, property sale and conveyance service to individuals moving or their family. Whether you are an executor or next of kin seeking information and support, do not hesitate to call our qualified team.


Complex Probate Cases

If an estate is over £325,000, if there are foreign assets, a missing will or missing assets, missing beneficiaries or disputes of any kind, the administration of an estate can be far more complicated than you may think. As professional probate directors, we have evolved over the years to incorporate more specialised areas of expertise - all of which is focused on helping you with more complex issues involved with winding up an estate.


Why Choose Us?


Here are some of the reasons why to choose us to help you with your probate or will:

 

  • Your call will not be answered by an impersonal call centre, any team member who takes your call will have first-hand experience of administering an estate and are bereavement trained. They will be extremely sensitive to your needs, understanding that it is a difficult time.
  • Unlike most companies, we do not have commission paid sales people. If you would prefer a free, no obligation home visit you will be seen by a director of the company; who will provide you with all of the guidance and information you need, and a trustworthy quote.
  • We do not require any money beforehand once you instruct us.
  • Our team are very knowledgeable and we have a proven track record.
  • We only deal with the best professional associates.


If you are in need of specialist help or simply want to find out how to administer an estate yourself, The Probate Bureau will help. We can tell you all you need to know about administering a loved one’s estate. Contact us on 0808 256 2336 to find out what you should do, and more importantly, what you shouldn’t do before you do anything else. The Probate Bureau - a professional, reliable probate service in Hertfordshire.

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