Applying for probate

Applying for probate

What is meant by ‘grant of probate’? ‘Grant of probate’ is a legal document, which a person will need if they are named as an executor of a will. It confers the right to organise a person’s affairs once they are deceased. Why is probate important? Proof of probate is critical for liaising with: banks local authorities tax and pensions companies estate agents insurance and utility firms. In the majority of cases, the institution will…

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How should I plan the division of my estate?

How should I plan the division of my estate?

When you pass away, the executors of your Will will be liable to pay inheritance tax from the proceeds of the estate if it is worth more than 325,000. In 2014, inheritance tax revenues jumped by 9%, and are set to double over the next five years. Many families are helping their loved ones make the most of their inheritance while still alive in order to lower the potential tax due. Before a Will can…

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What is probate?

What is probate?

‘Probate’ is a term commonly used when talking about applying for the right to deal with a deceased person’s affairs. It’s sometimes called ‘administering the estate’. This page contains information about what to expect if a loved one’s estate is in probate. In practice, different terms are used, depending on whether or not the deceased person left a will and where they lived. This information covers probate in England and Wales. Different terms associated with…

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