This article gives you the steps in obtaining probate in an easy manner.
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. If this is not applied for then these assets will remain frozen and inaccessible.
the executor of the will can obtain probate even without the need of a solicitor with a straightforward estate.
You cannot obtain probate if there is only a copy of the will available. The original Will should be checked to establish who has been appointed as the executor. The executor’s responsibility is to apply the probate and carry out the terms of the will.
All interested parties should be given notification of the death of the estate owner. The notification should be done in writing and the death certificate should be enclosed. These interested parties include banks, building societies, insurance companies, share registrars, investment and ISA providers, pension providers, tax and benefits authorities, creditors, etc.
Probate and inheritance tax forms need the declaration of the deceased’s valuation of assets on the date of his death.
There is no payable inheritance tax if the value of the deceased person’s estate is lower than the inheritance tax threshold. There is also no payable inheritance tax is the spouse of the deceased is the sole beneficiary of the estate. A widow or a widower who has left the estate will have an inheritance tax threshold increased.
Inheritance tax forms should then be completed. There is a form to be filled up if you are to pay inheritance tax, but if the estate value is less than the inheritance tax threshold, then you simply need to submit another type of form.
You also need to complete a probate application form which is to be submitted with your inheritance tax form, the probate application fee, and other documents required by the probate registry.
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.
Depending on how quickly you proceed, this whole process can take between 4 to 12 weeks.
This process is straightforward and does not require a solicitor unless the estate is complicated.