Probate
What is it?
Probate is the term used to deal with the legal process of dealing with a person’s estate after their death.
If the deceased left a Will, there will be Executors who are responsible for dealing with the estate. Executors will need to apply for what is known as a “grant of probate”.
If there is no Will, the people responsible for dealing with the estate (generally the next of kin) are called Administrators. Administrators will apply for what is known as a “grant of letters of administration”.
Executors and Administrators are often referred to as Personal Representatives. They have the task of collecting in the deceased’s assets, i.e. closing down bank accounts, selling or transferring shares, selling or transferring property and dealing with any legacies of money or personal items. They are also required to settle any debts of the estate, including funeral expenses and administration expenses, out of the deceased’s funds. Personal Representatives are also responsible for sorting out any tax issues, including Inheritance Tax, Income Tax and Capital Gains Tax.
We act on a Professional basis to alleviate the burden of this often complex process at a fixed-fee cost to rival the high street providers.
How can CashMoney UK® help you?
CashMoney UK® specialise in Wills, Trusts, Inheritance Protection, Lasting Powers of Attorney, Probate and other essential areas within Private Client and Succession Law. We offer our clients market-leading professional legal documentation, delivered by friendly, qualified Associates at an affordable cost. Whether you are looking for a basic will or a complex asset protection trust, our friendly advisers will guide you through the process in a way that works for you.