What is Probate?

Will Storage

Probate is the legal process of settling the estate of a deceased person, dealing specifically with all claims on the estate and distributing the property.

Obtaining the Grant of Probate is usually the responsibility of the executors appointed by the deceased in their will, or in the absence of a will the next of kin. Given that this is often a complex process many executors will appoint a firm such as thewillplace.com to act as professional executors either in isolation or jointly with the executors appointed by the will.

Once the will has been located or it has been established that there is no will, there are in effect three principle tasks to be completed:

  • To identify all of the deceased’s assets and liabilities
  • To obtain the grant of probate or letters of Administration
  • To realise the estate and distribute it appropriately

However in achieving these tasks a number of other factors need to be taken into account including the completion and filing of all court forms and attending court where necessary, obtaining up to date valuations of all assets and liabilities, completing the Inheritance Tax, Capital Gains Tax and Income Tax returns and lodging them appropriately and dealing with the sale of any land, property and chattels of the deceased.

It is important to note it is a requirement of the Inland Revenue that any Inheritance Tax is paid within six months of the death of the deceased and prior to the distribution of the estate. Failure to do so will leave the executors personally liable to action.

At thewillplace.com our service is designed to lessen the load for you at a difficult time. That’s why when you’re ready to discuss matters in detail we will arrange for one of our Probate Consultants to visit at a time that is most convenient for you. We will then explain what you need to do next and determine if we can help you. If appointed we will take on the legal responsibility for the work, completing all the legalities, paperwork and procedures for you, while keeping you in the picture every step of the way < for more information please contact our Probate Department on 0800 032 4557