This article gives you the steps in obtaining probate in an easy manner.
When a person dies and leaves a will, then the process of dealing with the deceased person’s estate which includes money, possessions, and properties is called probate. A grant of probate from the probate registry should be applied for by the executor of the will so that he can collect money from banks, building societies, and other organizations which hold assets belonging to the deceased person, and sell or transfer ownership of a property. Assets will remain frozen and inaccessible if the executor of the will does not apply for a grant of probate from the probate registry.
the executor of the will can obtain probate even without the need of a solicitor with a straightforward estate.
A copy of the will is not valid to obtain probate; you should find the original will of the deceased estate owner. The original Will should be checked to establish who has been appointed as the executor. The Executor of the will is responsible to apply the probate and carry out the terms of the will.
Notification of the death should be given to every interested party. Every interested party should be sent notification in writing with the attached death certificate. By interested parties we refer to banks, building societies, insurance companies, share registrars, investment and ISA providers, pension providers, tax and benefits authorities, creditors, and others.
There is a need to obtain the date of death valuation of the deceased’s assets since this information needs to be included in the probate and inheritance tax forms.
If the deceased person’s estate is valued below the inheritance tax threshold, then inheritance tax is not payable. If the spouse of the deceased is the sole beneficiary of the estate, there is also no payable inheritance tax. A widow or a widower who has left the estate will have an inheritance tax threshold increased.
Inheritance tax forms should then be completed. There is a form to be filled up if you are to pay inheritance tax, but if the estate value is less than the inheritance tax threshold, then you simply need to submit another type of form.
You need to submit to the probate registry a completed probate application form, which is to be submitted together with your inheritance tax form, probate application fee, and any other documents requested by the probate.
The probate registry then issues the grant of probate if there are no problems or further questions. This will then allow the executor to administer the estate and implement the terms of the will.
Depending on how quickly you proceed, this whole process can take between 4 to 12 weeks.
This process is straightforward and does not require a solicitor unless the estate is complicated.