Told that you need a grant of probate ? confused, concerned about the costs, who to contact and how long it will take ? we can help.
The term probate, is simply the legal word used to describe the process that is followed after someone as died. It ends with the probate registry, issuing a document known as a grant of probate, it is this document that will be required by banks and building societies to release funds in an account.
Will I need probate ?
So do all estates need probate ? the simple answer is no.
In summary, you will need a grant of probate if :-
- the Deceased person had cash assets above £15,000
- the Deceased left a property
- you intend to bring a claim on behalf of the estate eg. PPI or a care home fees claim
- there are shares
- there is a death benefit payable under a pension policy
Typically, you will not need probate when, all the assets are owned jointly, or when the Deceased had assets below £15,000 in value.
How long will the probate process take ?
It is important to remember that every estate is different, and for tis reason times do vary as to how long the probate process will take. There is no timescale when probate must be obtained. The only time limit to be aware of, is tat a tax return must be filed within 6 months if inheritance tax is required. There really is no need for probate to take months, in most straightforward cases we are able to obtain probate and distribute assets within 2 months.
We are contacted daily about families that have been contacted by companies, who have quoted ridiculous fees for what can be straightforward estate. Always ask for a fixed fee, it creates efficiency and all probate specialists ought to be able to quote a simple fixed fee, in this way you know the costs right at the beginning of the case. Unfortunately, there are lots of companies that send salesmen to your home – don’t go with this type of company.
How we can help – fixed fee service
We always charge a simple fixed fee, we ask a few questions to establish the nature of the estate, and the number of beneficiaries, and then quote a fee. If you need help, please call us on 0845 568 4000 or e-mail tim.murden@tmsolicitors.co.uk
