Probate should be seen as a process of checking the validity of the will, gathering in the deceased assets, paying any tax liabilities, then making a distribution to the beneficiaries.
The Deceased’s Will
The starting point for any probate process is the deceased’s will. Linley James Solicitors will review the will to confirm it is valid and suitable to be admitted to Probate. On occasions we find wills which have small defects in them as to their validity. We will explore how best to manage these defects and rectify them as necessary.
Executor Responsibilities
A will usually appoints two people as Executors to manage the deceased’s estate. Executors have several responsibilities in regard to the probate process. For example they are required to
- Review the estate finances for tax purposes.
- Arrange valuations of the estate assets.
- Defend the estate from legal challenges.
- Pay inheritance tax.
Validity of the Will
There is also the validity of the will to consider. For a will to be accepted by the Probate Registry it must be valid conforming to the Wills Act 1837, subsequent legislation, and statutory instruments. On occasions, there is also a house sale to conduct or alternatively working out how the house is to pass to a particular relative who may wish to buy out other beneficiaries’ interest in the property.
Typical Probate Times
Start your probate – Month 1 / 3
Once we have received your instructions we will carry out a detailed review to establish what is needed to apply for the grant of probate for you.
Apply for the Grant of probate – Months 3 to 6 / 9
To apply for a grant of probate we have to
- Confirm the validity of the will.
- If they died without making will begin searching for potential beneficiaries and check to make sure there is no will.
- Contact the identified banks and other financial institutions requesting the value of assets they hold on behalf of the deceased.
- Complete the relevant HM Revenue & Customs (HMRC) inheritance tax forms to review if any tax has to be paid.
- Place the relevant public notices.
- Review the probate application forms and complete these ready for submission to the probate registry.
Interim Beneficiaries Distributions – Months 6 / 9 to 12
A lot of conducting a probate is waiting for replies to enquiries, together with the grant of the probate from the probate registry.
It is possible in many probates to make an interim distribution to beneficiaries. Once the grant of probate has been received and no one is wishing to claim against the estate interim beneficiary distribution can be considered.
Final Beneficiary Distributions – Months 12 to 15
Before final distributions are made we have to confirm that no one is seeking a claim against the estate. There is also confirmation there are no outstanding legal issues, tax to pay or any other probate work to complete. Once we have confirmed there are no outstanding issues then we can consider making a final distribution to the beneficiaries.
Time Frames
Whilst we give timings, these should be seen as estimates as we are engaging with other organisations when conducting probates. This means we may have to wait for them to reply to us, which can extend time frames.
Make An Enquiry To Our Dedicated Probate Team
Call our dedicated probate team now on 0207 060 1210 or enter a few details below for immediate assistance.