With a Will/Probate
Many people use the term ‘probate’ when referring to the administration of a persons estate, so what is probate?
When someone dies leaving a will, banks, building societies and other organisations will want proof from the executors that they are who they say they are and that the will is the genuine last will.
A grant of probate from the court gives the executors the authority they need to deal with the assets in the estate.
Before applying for a grant of probate the executor must provide Her Majesty's Revenue and Customs (HMRC) with detailed information about the estate.
In order to do this they need to track down all of the assets that the deceased owned. This can involve a lot of detective work.
The more complex the estate the greater the likelihood of missing an asset or liability. Our specialist lawyers have over many years become highly experienced in picking up leads that often result in assets being found. An old statement from a long forgotten building society might lead to a shareholding in one of the current high street banks.
Once all of the assets have been found the executors need to collect and distribute them to the beneficiaries in accordance with the terms of the will. Throughout the administration process the executors must bear in mind their powers, duties and responsibilities. This is where we can help