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. If the executor of the Will is to legally collect money from banks, building societies, and other organizations which hold assets belonging to the deceased person as well as sell or transfer ownership of a property, he needs to apply to the Probate Registry for a Grant of Probate. 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.
A copy of the will is not valid to obtain probate; you should find the original will of the deceased estate owner. It is important to have the original will so that the appointed executor will be established. The executor’s responsibility is to apply the probate and carry out the terms of the will.
Notification of the death should be given to every interested party. 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.
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.
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.
A grant of probate will then be issued by the probate registry if there are not problems or questions with the application. 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.
If the estate is complicated, then you need a solicitor to help in the execution of the will.