Settling affairs after a death
The death of a loved one can leave you feeling overwhelmed and it is typically always a very emotional time. After a person has died there are many arrangements that will have to be made in relation to the administration of their estate, particularly if they did not have a Will in place.
How we can help
Here at Nelsons, our expert and highly experienced team of Wills and Probate solicitors in Derby, Leicester and Nottingham can assist with all aspects of estate administration, including:
- Valuing the estate assets
- Prepare the necessary paperwork for obtaining the Grant of Probate
- Finalise any Inheritance Tax issues with HM Revenue & Customs
- The sale of estate assets and settling of loans (if required)
- The distribution of estate assets and finances – including advising on finances to be held for minor beneficiaries
- Providing advice in respect of any Trusts created by a Will
- The preparation of any Deeds of Variation to redirect the estate (if necessary)
We can help with all or any part of the process and will advise you of the costs involved before we carry out any work. For information on our fees and services in relation to Grants of Probate and Letters of Administration, please click here.
What our clients say about us…
Our specialist team is recommended by the independently-researched publication, The Legal 500, as being one of the top teams of experts in the country.
-
What is Probate?
A Grant of Probate gives your executors (also known as personal representatives) the legal right to deal with your affairs after your death, so they can administer your estate according to the terms of your Will.
The Grant of Probate is a legal document confirming that the executor has the authority to deal with your property, money and possessions. They can use it to access funds, sort out finances, or collect and distribute your assets.
-
What happens if I die without a Will?
If you die leaving a Will:
- The executors have immediate legal authority from the day you die.
- The executors named in the Will apply for the Grant of Probate from the Probate Registry.
- The executors may be able to deal with certain smaller assets without the Grant of Probate.
If you don’t leave a Will:
- A close relative can apply to the Probate Registry to deal with the estate.
- Instead of a Grant of Probate, they need a Grant of Letters of Administration.
- They can become the administrators of the estate.
- The administrators have no authority until they have obtained the Grant of Letters of Administration.
- Like a Grant of Probate, a Letter of Administration is a legal document confirming the administrator’s authority to deal with your assets.
-
When is a Grant of Probate or Letters of Administration needed?
Generally, a Grant of Probate or Letters of Administration is needed if you die leaving one or more of:
- £5,000 or more in savings or investment accounts;
- Stocks or shares;
- Certain insurance policies; and/or
- Property or land held in your own name or as tenants in common with someone else.
If your estate is small, some insurance companies, banks or building societies may release funds without a Grant but only at their discretion – the minimum figure can vary between organisations.
Your executors won’t be granted Probate until some, or all, of any inheritance tax that is due on the estate, has been paid – so the administrator of an estate often requires specialist knowledge of tax and inheritance law.
It is possible to apply for a Grant of Probate directly to the Probate Registry, but:
- There is then an extra Probate fee to pay.
- The Probate Registry will take longer to issue a Grant.
- You have no guarantees or cover if things go wrong.