Probate Service & Administration Of Estates
Our streamlined professional service for relatives following a death is widely used by Willpower clients who wish to obtain Grant of Probate, have the Estate Administration process completed as speedily as possible and the funds released to the beneficiaries without delay.
Our clients rely on us for EXPERT ADVICE on the Trusts that are commonly found in Wills and on how to minimise INHERITANCE TAX on the estate which is often miscalculated.
We specialise in making post-death arrangements of the deceased’s estate to minimise CARE FEES going forward for the family.
We agree on a fee upfront which is very competitive with other providers like solicitors and banks who often charge more where Trusts are involved.
We normally hold a meeting with the executors at a venue of their choice, to explain the service, agree on the work to be done, agree on the fees and collect all the relevant paperwork.
Our professional service is designed to give you peace of mind that all the legal formalities have been completed and the Inland Revenue satisfied at every stage.
Our service includes
- Valuing and selling all the relevant assets
- Taking steps to minimise Inheritance Tax on the estate
- Making arrangements to minimise Care Fees for the family in the future
- Acting as an independent third party in the event of family disputes
- Keeping in touch with the Executors about progress every step of the way
- Fast tracking as much of the application as possible to enable speedy release of funds
- Avoiding the costly traps that some lay executors fall into when they act without professional help
What Our Probate Service Involves
What Is A Grant Of Probate?
A Grant of Probate is a legal document that may be required to administer the estate of a person who has died. Once an executor or administrator has successfully applied for a grant of probate (or the letters of administration have been obtained if died intestate), they can then arrange the legal, tax and administrative duties involved in the administration of the estate.
How A Grant Of Probate Works In England & Wales
When someone who has a Will in place passes away, the Will should name one or more executors. An executor is a person, or persons, who have been chosen to administer the estate by the individual who has died.
The executor will need to find out if a Grant of Probate is required, and if it is, it will give them the legal authority to deal with probate and administer the estate of the deceased.
If the deceased did not have a legally valid Will in place, inheritance law will decide on the appropriate person to administer the estate. This person is known as the administrator, who may need to obtain a Grant of Letters of Administration instead.
When Is A Grant Of Probate Needed?
Obtaining a Grant of Probate may be required for an estate when:
- The estate is worth more than £5,000.
- Stocks and shares are included.
- Property or land are included.
If none of the above conditions is met, then a Grant of Representation will not usually be required. However, there can still be situations where this may not be the case, so speaking to a specialist in Wills and Probate like Will Power Estate Protection is a vital step.
What Happens Once A Grant Of Probate Has Been Obtained?
Once a Grant of Probate has been obtained, the probate process can get underway and all the estate administration steps can commence. This may include:
- Locating the beneficiaries and making contact with them.
- Collecting in any assets that belong to the deceased.
- Transferring or selling any land or property owned by the deceased.
- Settling any debts on the estate that may still be outstanding.
- Distributing the estate in accordance with the terms and conditions of the Will.
Probate Application Fees
We agree a probate service fee upfront which is usually much lower than other providers like solicitors and banks. Our prices are designed to meet your needs and requirements, no matter if the deceased has left a Will or died Intestate.
When applying for probate, the first step is to typically arrange a meeting with the executors at a venue of their choice. During this meeting, we will explain the service, agree on the work to be done, agree on the fees and collect information on all the relevant paperwork.