Probate

Probate is the document which shows that the Probate Court has confirmed that the Will is valid and confirms the authority of the Executors to act.

We can help you with the process which is briefly explained below. The forms can be quite complicates and our job is to make it all as easy as possible. Being an Executor is a heavy responsbility and our job is to lighten your load and advise you about any pitfalls you might not be aware of, and tell you the best way to deal with any issues that arise.

On a person’s death their Executors have a duty to establish the values of all the assets and liabilities in the estate, and they then in most estates have to apply for a Grant of Probate to the Probate Court. In many estates it is not necessary to complete the long tax form IHT400, but instead the short tax form IHT205 is sufficient. The Executors will also need to complete an Oath for Executors, and if they are making a personal application instead of through Solicitors there are additional forms that they will need to complete.

Once the Grant of Probate is obtained the Executors can then collect in all the assets due to the estate and distribute them to the beneficiaries. Sometimes assets are realised, and sometimes they are simply transferred to the beneficiaries if that is possible.

If the estate has to pay inheritance then tax has to be paid at the time the IHT 400 is sent to H.M. Revenue & Customs, but sometimes not all the tax has to be found at the application stage.

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JillHill
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