When Is It Best To Use A Probate Specialist?
As fixed-fee probate specialists, Birch & Co knows everything there is to know about giving you the support you need at what can be a difficult time. With 5-star Google reviews and a 99% recommendation rate, we know we give our clients what they need when they need it most.
Get a bespoke fixed price estimate today. Talk with one of our supportive and knowledgeable probate specialists on 0191 284 5030 or complete a Free Online Enquiry at any time.
“I would definitely recommend you to others – Thank you very much” (Mr Laskey)
If you have recently been named as the executor of a will, or are in the sad position when it is time to carry out your duties, here is everything you need to know about what probate is and how and when a specialist can help you:
What Is Probate?
Probate is the legal permission to administer the estate of someone who has passed away. Usually, this will be because you have been named as executor in their will. As an executor, it will be your job to:
- Apply for a Grant of Probate – even if you are named as executor, you need to apply for a special legal document called a Grant of Probate before you can fulfil your role.
- Administer the estate of the deceased – once you receive your Grant of Probate, you can start locating all of the assets that make up the deceased’s estate, valuing them, paying the required taxes and any debts, and distributing the remaining assets in line with the will.
If there is no will, you will have to follow a similar application process to become an “administrator” of an estate. You can only do this if you are one of a set list of next of kin.
As an administrator, instead of a Grant of Probate, you will apply for a Grant of Letters of Administration and will have to follow the laws of intestacy instead of a will. These laws govern who inherits from the deceased’s estate in a set order rather than in line with their or your wishes.
This is why it is so important to have a clear, valid will written.
When Do I Need A Probate Specialist?
In all but the simplest of cases, it makes sense to hire a probate specialist for one important reason:
As the executor or administrator, you have personal liability if any mistakes are made in the administration of an estate.
Personal liability means that if mistakes are made and legal requirements are not met, you will need to personally cover any shortfall. This is something many people overlook only to face unpleasant surprises later down the line.
One of the most common ways this happens is that potential creditors on the deceased’s estate are not given sufficient time to make a claim. Later, when they do, the assets have already been distributed and there are no funds to pay the debt. As executor, you would then have to pay.
Similarly, if a beneficiary was missed, the required effort made to locate them was not made, or they were simply not given the correct legacy, again it is the executor who is required to resolve the situation.
You cannot simply plead ignorance. The law requires that you understand the role and carry it out correctly.
Is It Best To Use A Solicitor For Probate?
It is usually a good idea to use a solicitor for probate. The personal liability that goes along with estate administration alone makes it a potentially fraught role, especially at a time when you might rather be focusing on more personal matters.
But on top of this, there are particular situations where having a probate specialist handling everything will make everything far easier for you:
- The will is suspect or non-existent – if there are any doubts that the will is valid or if there is no will, specialist advice is always going to be an advantage.
- The estate includes overseas property – if the deceased lived abroad for tax purposes or owned property or assets overseas, the complexity introduced makes expert input vital.
- The estate includes a trust – or any other structures or arrangements that hold assets that add more complexity than a small, straightforward bequeath to a single person.
- There may be claimants on the will – it is not unknown for dependents left out of the will to believe they should have received recognition and make a claim on the estate.
- The estate is bankrupt – when an estate has debts, it is vital that the correct order of payment is followed if you are to discharge your executor duties correctly. When you have personal liability, mistakes in this area can be very costly.
How Much Should A Solicitor Charge Of Probate?
Get a bespoke fixed price estimate today. Talk with one of our supportive and knowledgeable probate specialists on 0191 284 5030 or complete a Free Online Enquiry at any time.
“I cannot fault the professionalism and helpfulness throughout what has been a difficult time. I would not hesitate to use your services again and would recommend you to others.” (Mrs Surtees)
