What is the Probate Process?
Updated: 6 days ago
Probate is the process of dealing with the estate of someone who has died.
Every estate and Will is different, therefore the exact probate process can vary depending on the instructions left in the Will and the assets, creditors, and beneficiaries the estate has.
The basic process for an executor is:
Gather the full details of the estate’s assets and debts
Apply for Grant of Probate
Complete an inheritance tax return and pay any tax due
You receive a Grant of Probate
Repay any of the deceased’s outstanding debts
Distribute the rest of the estate according to the instructions left in the Will.
The Probate process is governed by law and usually includes the following:
Settling all the debts and expenses.
Obtaining the Grant of Probate or Letters of Administration from the Probate Registry.
Determining the assets of the deceased and their value.
Paying the gifts as directed by the Will
Distributing what remains of the estate to the beneficiaries in accordance with the Will or the Rules of Intestacy (if there is no Will)
Preparing Estate Accounts.
Closing accounts and collecting in the assets.
Ascertaining whether there is enough money available to pay the deceased's debts.
Completing Inheritance Tax Forms for HMRC confirming if any tax is payable
If Inheritance Tax is due, settling the payment with HMRC (all or part payment needs to be paid before the Grant of Probate is issued)
How Much Does Probate Cost?
Visit our fees page to get a breakdown of our probate fees. If you'd like to discuss your situation, call us on 020 8269 9900 (Sidcup) or 01904 234095 (York).
Our private client practitioners here at RG Law are experienced in supporting you, your family and loved ones through this process and will provide an understanding and sensitive approach, ensuring that matters are completed quickly and efficiently.
If you would like to know more or get in touch with us click here.