What is Probate?
If the deceased left a will, then it will appoint executors and these are the people who are responsible for dealing with the estate of the deceased. If there is no will then it is known as intestacy and the next of kin will be the person who is responsible.
A grant of representation is a legal document that is issued by the Courts that proves that the correct person has the authority to administer the estate. It is often referred to as obtaining “probate” to an estate.
Once the grant is obtained, the estate can be administered which involves encashing assets, transferring or selling property, and paying liabilities before distributing the remaining funds to eligible beneficiaries.
Basic Guide to
Inheritance Tax
Spouse Exemption: Any estate passing to a surviving spouse is exempt from inheritance tax no matter what the value.
Personal Nil Rate Band: The first £325,000 of a person's assets is exempt from IHT.
Married Couples: Where one party has passed away and they did not utilise any of their nil rate band, then on the survivor’s death there is a combined allowance of £650,000 which is exempt from IHT.
Residential Nil Rate Band: Where property is passed to direct descendants (i.e., children or grandchildren), there is a further allowance of £175,000 which you can set against the value of the property. Where a property was owned jointly then on the death of the survivor there is a combined allowance of £350,000 which is exempt from IHT.
With some estates you may have to pay inheritance tax before a grant of representation is issued by the Court. To determine if tax is payable you will need to calculate the net value of the estate and then apply the exemptions and reliefs.
This means that a married couple who died leaving children have potentially up to £1 million pounds of exemptions that could apply before any IHT is payable.
IHT is charged at a rate of 40% on the value of the estate over the eligible exemptions.
There are other exemptions and reliefs that can be claimed relating to interests in companies, charitable gifts and agricultural holdings.
Who to Notify in the Event of a Bereavement
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Companies:
Shares, bonds, premium bonds, life insurance, store cards, season tickets or club membership cards, lease/HP/credit companies, companies providing any equipment on loan, mortgage company, professional bodies.
Insurance:
Vehicle insurance — named drivers may no longer be insured if the policy was in the name of the deceased.House insurance — notify if the policy was in the name of the deceased or if the property is going to be unoccupied.
People:
Family members, friends/neighbours, employers, work colleagues, funeral director, solicitor who holds a will, accountant, financial advisor, landlord, doctor, optician, dentist, chiropodist, milkman, newsagent, gardener, home care, hairdresser.
Organisations:
Gas, electricity, water, telephone (land & mobile), satellite television, broadband, post office to redirect mail, banks, building societies, credit card companies, pension providers, investment companies.
Tell Us Once:
They will automatically notify all government bodies such as HMRC (tax), DWP (to cancel any state payments), Passport Office (to cancel passport), DVLA (to cancel the driving licence), the local authority (to cancel housing benefits, council tax benefit, blue badge, council housing), and remove the deceased from the electoral register.
Here we are!
How can Curtis Legal Help?
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Help with all aspects of probate and estate administration, to include help with tax aspects and the sale or transfer of property.
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We provide practical and easy-to-follow advice as to what to do when someone dies.
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We will clearly explain your options and the legal services we offer.
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We provide a fixed price quote so you know exactly how much it will cost.
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We will even cover the cost of the funeral so you can give your loved one the send-off you choose without having to be worried about having to pay anything upfront.
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We are a regulated law firm and take the responsibility of estate administration from you.
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Probate is our speciality - we have a team of experts on hand ready to help you today.
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If you have a question and would prefer to email, please email: enquiries@probateadvicewales.com
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For free initial advice about probate, call our friendly probate team on: 01633 445995
Why Choose Us?
We will also reimburse any out-of-pocket expenses you have incurred and cover the cost of insuring property until such time as funds are available in the estate. Working with trusted partners, we can arrange property clearances and sales.
With us there are no hourly rates or charges based on percentages, so there are no nasty surprises.
We will also pay the cost of the funeral for you even if there are no funds immediately available in the estate - e.g., where the only asset is a property to sell.
We provide the best possible estate administration service for a reasonable fixed fee.
We utilise a bespoke case management system to ensure the administration proceeds as quickly and efficiently as possible and that you receive regular updates.
But don’t take our word for it
see what our clients say about us:
I had a wonderful service and would definitely use and recommend this firm to everyone - Martyn Davies
We have had an amazing service. They are all approachable,
proactive and highly knowledgable - Philipa
From the very first interaction they were very professional and empathetic - Jacqui
I can highly recommend the
service provided at a time when
everything is so emotional -
Joanne Evans
Contact Us
Curtis Legal Ltd is authorised and regulated by the Solicitors Regulation Authority Registration number: 450129
Company Registration number: 06048956 Registered Office: The Alder Suite, Mamhilad House, Mamhilad Park Estate, Torfaen NP4 0HZ