your guide to probate · determine whether you need to go through probate at all. you may not need...

Your Guide to Probate

determine whether you need to go through probate at all. You may not need to if the estate is under £15,000 or all the assets are held jointly or in trust.

1) Full D.I.Y - You can do it all without professional assistance. Remember if you go down the D.I.Y route, you may be personally liable for any mistakes or if things go wrong.

Do some of the work yourself and enlist a professional for some of the trickier legal issues.

You can appoint a professional knowledgeable in Probate Law to

weight from their shoulders.

YOUR CHOICES -

Two thirds of people appoint a professional and common reasons include:

Personal Reasons:

Concern about making a mistake and being personally liable

The estate is intestate (no will) and usually more complex

The terms of the will are unclear

The deceased inherited within two years

The deceased owned a business

The deceased owned property abroad

Winding up an estate

stages in winding up the estate. Not all of it may be relevant in every case.

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ProbateEstate of

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Probate

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fo etatsE

Dependants) Act 1975. A claim might be made perhaps by a family member who feels he or she has

professional help.

Estate Accounts

Assets at the date of death

Tax

to death

being disregarded.

As you may appreciate, the executors are obliged to account to the appropriate Inspectors of Taxes for income received and capital gains made during the period of

given tax year, incurring an avoidable higher rate tax liability. The risk of this occurring

higher rate income tax threshold.

completes annual tax returns or claims, he may either send the form to his Inspector

of a person who has died leaving no Will or the

The transfer of an asset instead of its sale proceeds

The court order authorising a person to deal with

pictures, prints, instruments and apparatus,

Some Legal Terms Explained