Many questions surround Probate and Will writing. They are not the simplest of things but they need not be too complicated either.

 

Probate and Will writing questions answered

Many questions surround Probate and Will writing. They are not the simplest of things but they need not be too complicated either, which is why we are here.

What is Probate?

An application to the High Court ( Probate Registry ) to claim responsibility for and effectively deal with somebody’s money or assets.

Is Probate complex?

Not always. Every estate is different.

How much does Probate cost?

Every estate is different and of course the work can be varied. If you call us on local rate 020 8462 1125 we can quote you.

What is a Letter of Administration or what are Letters of Administration?

Almost exactly the same as Probate except you apply for a Letter of Administration if there is no Will. The procedure and forms are exactly the same as Probate.

What is Intestacy or Intestate?

If you do not make a Will you die “Intestate”.

Who will benefit if I die without a Will?

Governments have applied what is known as the Rules of Intestacy, it will depend on who is your closest relative.

Who needs a Will?

Property or Land Owners, anybody with cash assets in excess of £5000 or whose estate will receive a payment in excess of £5000 after death i.e. from an Insurance Company or Pension provider.

I don’t have £5000, can I still write a Will?

Yes. You can write a Will to distribute personal effects but there is not generally a need to take the Will to Probate.

Does my spouse inherit everything if I do not make a Will?

Absolutely not. There are limits laid down by the Rules of Intestacy

Does my partner inherit my house if I do not make a Will?

Absolutely not. Partners inherit nothing.”.

Will my children be liable for inheritance tax?

If the total value of your assets exceeds the nil rate band then the answer is yes. Inheritance Tax will most likely fall due.

What is a Caveat

form lodged with Probate registry that would register your interest in an estate and thus stop the probate registry from issuing a Grant of Probate or Letters of Administration.

Can I stop someone applying for Probate?

Yes. You can enter a caveat which will stop the Probate registry from issuing a Grant of Probate or Letters of Administration. It is strongly advisable to take legal advice before entering a caveat, please call us, we can help you.