When your loved one dies, the last thing you want to be stressed about is the complex and lengthy estate administration process. Whilst some people may opt to deal with the process alone, many find it beneficial to use a probate solicitor to support them through the process. Let’s explore the role of a probate solicitor and how they can help during this difficult time.
What is probate?
The terms probate and estate administration are often used interchangeably to refer to the process of managing the deceased person’s assets, settling their liabilities, paying any taxes due on the estate and distributing the residual estate to the beneficiaries. The Personal Representative (‘PR’) is the person responsible for administering the estate. If the deceased left a Will, an Executor will be appointed as the PR who will apply for a Grant of Probate in order to deal with the estate (This is where the term probate stems from). If the deceased died without a Will, an Administrator will act as the PR instead and they will need to apply for a Grant of Letters of Administration.
Do I need a probate solicitor?
Hiring a probate solicitor can often simplify the complex and challenging process of managing a deceased person’s estate. Their expert legal knowledge in the field ensures that the process is smooth and any complex legal matters are dealt with, for example, dealing with business assets, calculating tax, interpreting Wills, and resolving beneficiary disputes.
If there is no will, the probate solicitor can effectively implement the intestacy rules to determine matters such as who will act as the PR and who the beneficiaries will be.
A probate solicitor will ultimately save valuable time and unwanted stress for all parties involved so they can comfortably focus on spending time with loved ones rather than complex admin tasks.
You may wish to consider hiring a probate solicitor to assist you in the following cases:
Complex estates
You may need professional help if the estate is substantial in value or has complex assets, such as foreign properties, trusts, business assets and investments. In these cases, there are intricate domicile, business and tax laws that come into play which the average person would not be aware of. A professional probate solicitor would be able to step in and take care of all the legal formalities and suggest the best way forward for all parties.
No Will
In terms of the Will, if the Will is not clear, invalid, or even if there is no will, the probate solicitor will be able to make the relevant enquiries and applications to try and validate the Will or implement the intestacy rules if there is no will.
Beneficiary disputes
We all know families can be complicated and often, in times of death, emotions are heightened and overwhelming, which can lead to disagreements arising in the family. In this situation, a probate solicitor can act as a neutral support and offer invaluable guidance during this time to ensure the deceased’s wishes are upheld.
Time and stress
The probate process can be extremely difficult if the family is still grieving. The process takes a lot of time and it can drain the family emotionally. Hiring a probate solicitor means that they do all the heavy lifting on your behalf, so you can fully focus on your family and heal as time goes by. It can also save time by leaving the process in the hands of an expert who understands the in’s and out’s of probate and has years of experience.
Debt and creditor claims
If the deceased had significant debts, known and unknown, creditors could come after the family to claim during the probate. Your solicitor will guide you and ensure that these claims are valid and legitimate and also follow the relevant process to ensure no further claims can be brought against the estate. Throughout the process, you will have peace of mind as our probate solicitor will handle everything without any harm to the beneficiaries.
Inheritance tax issues
Complex tax calculations are not for everyone; we all know that! Calculating the inheritance tax correctly can be an extremely daunting task, especially with a large estate. Your probate solicitor can take care of the tax calculations to ensure that you don’t pay more than you need to and that the tax is paid on time.
Handling business interests
A probate solicitor can take care of the deceased’s business matters which can often be complicated and difficult for the family to understand, especially if they were never involved in the business. The probate solicitor has vast experience in dealing with businesses in the death estate and can offer expert advice to the family on how to deal with the assets and explain the process clearly.
Dealing with trusts
If the deceased left any assets in a Trust, the probate solicitor can help the Trustees deal with the Trust administration process and offer guidance on how this works alongside the estate administration process. They can also deal with any complex tax matters that may arise from the Trust.
How do I choose a probate solicitor?
When you are looking for a probate solicitor, there are various factors to consider that may influence your decision. Let’s take a look at some of them:
Expertise
The first factor to consider is how much experience the probate solicitor has in this field. The more experience the solicitor has, the better they can support you. Here at My Probate Solicitors, we have an expert team with years of experience specialised in probate and estate administration who can offer you effective guidance and support.
Cost
Cost is one of the most important factors to consider when choosing a probate solicitor. A combination of expertise and affordability is something you should look for in your research. For details on My Probate Solicitors’ fair pricing structure, please visit our pricing page.
Fast service
A fast and responsive service is crucial when paying a solicitor for their assistance. My Probate Solicitors offers an efficient service to ensure clients are happy and kept updated throughout the process. We work to a strict service legal agreement and aim to submit the Grant application within six weeks for a simple estate, otherwise, as part of our “money back guarantee”**, we will refund you.
So, all things considered, when asking yourself if you need a probate solicitor, the answer may very well be YES, you do!
If you are still unsure whether you should consult a probate solicitor or not, we suggest you contact us to discuss this further.
For more information, visit our LinkedIn page, call 03330 14 24 24 or contact hello@myprobatesolicitors.co.uk.