After a death, an estate executor or administrator is responsible for winding up the deceased’s affairs. This may include obtaining a Grant of Probate. We take a look at when banks will ask for a grant before releasing funds. In some situations, it is not necessary to obtain a Grant of Probate after someone dies. This includes when the deceased […]
When do banks ask for a Grant of Probate?
How to obtain a Grant of Probate or Letters of Administration
After a death, it is often necessary to obtain a Grant of Probate or a Grant of Letters of Administration. This is the document that gives the deceased’s personal representatives legal authority to deal with their affairs and wind up their estate. If the deceased left a Will, it will name executors. These are the people who are responsible for […]
Update on Probate Registry Delays
During the course of the pandemic, there has been a considerable backlog of probate applications at the Probate Registry. This backlog was actually an exacerbation of a situation that has been ongoing since 2017. The reasons are not that simple to explain. Staff shortages at the Probate Registry and other complications during the pandemic are understandable, but these should have […]
What Happens to Someone’s Bank Account When They Die?
When a person dies, the personal representative (PR) takes responsibility for the management of the deceased person’s estate which includes money, possessions and property and will also be responsible for the closure of bank accounts. If the PR has been named in a will they take on the role of the executor. How to find the bank account information of […]
New Flat Fee For Probate But Processing Time Is Much the Same
Probate is the legal right to deal with another person’s property, money and possessions after they have died. There are only certain people who are entitled to apply for probate. Who can apply depends on if there is a will present. If there is a will, executors who have been named in it may apply. If there is no will, […]
What Could Happen to Your Assets if Your Lose Your Life to COVID-19 Without a Will?
Most of us have already had our lives dominated by the incessant news about the global COVID-19 pandemic, but there are a number of deaths that have without reasonable notice inflicted families. After all, no one really thought a virus allegedly derived from bats could do so much damage to the human population. But it has and swiftly too. One […]
Can I Sell the Deceased’s Property to Pay Inheritance Tax?
Paying Inheritance tax (IHT) is not always a straightforward matter, particularly if the amount due is more than you, the executor, have available to pay. If the estate left in the will is more than £325,000, then 40% of any amount over this threshold will need to be paid to HMRC. It doesn’t matter whether the estate is property only, […]
UK Ministry of Justice Proposed Increase in Probate Fees Scrapped
Some people may be wondering why they haven’t heard any more about the proposed rise in probate fees which was part of the Government’s plans to increase revenue for the Ministry of Justice by £185m annually. This should have taken place last April but the Brexit impasse appears to have held up the decision. Just recently, the British government has […]
How to Escape Inheritance Tax the Legal Way
What is inheritance tax? Inheritance tax was first introduced in 1986. It is a tax that needs to be paid on the property or cash of some people after they die. Currently, the rate is set at 40 percent of all assets that exceed £325,000, so it really only applies to those who leave significant wealth behind when they die. […]
Choosing an Executor to Administer Your Will
The person who sorts out your property when you die and carries out the instructions in your Will is called your executor. It is preferable that you appoint an executor in your Will as it makes it easier to finalise your Will after you die. There are no restrictions on who you choose to do the job, but it is […]
The Pros and Cons of DIY Wills
The number of British adults who have not made a Will is alarmingly high. It has been estimated that around 60% of adults have not concerned themselves with making a Will. Why not? The two main reasons seem to be cost and procrastination. Those adults who do think about making a Will are concerned about the cost of making a […]
An Introduction To Power Of Attorney
All powers of attorney are prepared and checked by a specialist Solicitor so you have peace of mind that it is correct and accords with your wishes. There are two main types of Power of Attorney which enable you to appoint people to deal with your personal affairs should you find yourself incapable of doing so, whether due to physical […]