When someone passes away, probate may be required before their assets can be dealt with. This blog discusses what probate is, when is probate required, and what are some of the UK financial institution thresholds.

When dealing with the death of a loved one, many Executors find themselves worrying about the costs of administering the estate and how fees can be paid. Acting as an Executor or Administrator is not a paid role, and it’s common to feel concerned that it may leave you out of pocket. In this blog, we’ll cover what probate is and whether probate (and other fees) can be paid out of the estate.

In certain circumstances, HMRC will allow a Personal Representative to postpone payment of all or part of the tax and interest due on delivery of an account. This is referred to as a Grant on credit.

Probate is the process of obtaining a Grant of Probate, which is the legal document that an Executor may have to obtain in order to administer the estate of someone who has passed away. Many people choose to instruct a professional to apply for probate on their behalf, as it involves complicated processes, a lot of paperwork, and legal knowledge.

A Grant of Representation is a legal document issued in the United Kingdom that gives the person named on it the authority to administer the estate and other assets of a deceased person. In simple terms, it is a document that proves that the person handling the deceased's assets has the legal right to do so.

Many adults in the UK do not have a valid Will. They may have a Letter of Wishes or documented their requests in other ways, but a Will must be formally witnessed and signed in order to make it legally valid. Whilst you can make a Will yourself, it is strongly advised you discuss your circumstances with a professional to ensure you are considering all your needs. Additionally, a professional Will Writer will have the facilities to store your Will securely, which ensures that it is easily accessible upon your death.

In the UK, the Executor of a Willis responsible for managing the estate of a deceased person, paying any debts and taxes, and distributing the remaining assets according to the terms of the Will. The specific duties of an Executor may include:

A step that often causes family members additional stress and anxiety when someone dies is locating the deceased’s important documents. This includes the Will, which details the Testator’s wishes regarding how they want their estate to be distributed. Unfortunately, locating a Will and other important documents can sometimes be a difficult and time-consuming process for loved ones coming to terms with a death. This blog answers frequently asked questions about locating the Will to help you navigate this stressful time. The blog explores how to find a Will, what happens if you can’t find a Will, and the benefits of storing estate planning documents with a professional storage provider.

When estate planning, there are some things that are essential to include. For example: who will inherit any property, who may care for a dependent child, or what should happen to various personal belongings. One thing that often gets overlooked is what happens to a person’s digital assets.