What is a Grant Of Probate?

by | Sep 19, 2021 | Probate

Probate formsThis is the vital legal document which must be obtained by the executors before most financial institutions such as banks or building Societies, that are holding assets or investments for the deceased will release any funds from the deceased`s account.

It is a common myth that once the financial institution has seen a copy of the death certificate then they will release any funds held in the deceased`s account. The process of probate and administering an estate is often not as straightforward as one may think. There are set rules which must be followed and in the correct order and if not undertaken correctly an executor could find themselves personally liable. There is a great deal of preliminary work to be undertaken including locating the Will, contacting all the deceased`s banks, building societies, shares, pension provider and other possible investments and policies to ascertain the value of the deceased`s estate as well as notifying all possible creditors and utility providers, DWP, to mention just a few. Many cases will involve completing an Inheritance Tax form and calculation for HMRC and as stated obtaining the Grant of Probate.

For some this challenge is acceptable but for many when dealing with a loss of a loved one it is an obligation that causes extra stress at a time of mourning their loss.

We are here to assist you in your role as an executor and help you deal with the administration of the estate providing expert legal advice so that you are relieved of the stress of dealing with such matters safe in the knowledge that our legal expert will deal with your matter compassionately and with absolute professionalism.

We will guide you every step of the way allowing you to concentrate on your family`s needs at such a sensitive time.

DISCLAIMER

The information provided is of a general nature. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from an appropriate professional before you take any action or refrain from action. Whilst we endeavour to use reasonable efforts to furnish accurate, complete, reliable, error free and up-to-date information, we do not warrant that it is such. We and our associates disclaim all warranties. The information can only provide an overview of the regulations in force at the date of publication, and no action should be taken without consulting the detailed legislation or seeking professional advice.

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To find out more about how we can help you, or even just talk through any of your probate questions, don't hesitate to get in touch.