Wills & Probate Specialists
When there has been a death whether they have a Will or not, it may be necessary to obtain a Grant of Representation (Probate or Letters of Administration) to deal with their affairs. A Grant will usually be needed if they have over £5,000, stocks or shares, a house or land, or certain insurance policies.
If the deceased left a Will, the executors named in the Will may need to apply for a Grant of Probate. A Grant of Probate is an official document proving that the executors have the right to administer the estate. If there is no Will, the deceased is said to have died Intestate and an administrator may need to be appointed who will apply for a Grant of Letters of Administration. The Administration of Estates Act 1925 sets out who can act as an administrator; it is usually a close relative of the deceased. The Grant of Letters of Administration will allow the administrator to administer the deceased’s estate.
Administrators and executors are also known as personal representatives. The personal representatives are responsible for making sure that the deceased’s wishes as set out in the Will are followed. If there is no Will then the Rules of Intestacy must be followed. It is also the duty of the personal representatives to find out if Inheritance Tax is due on the estate and if so calculate the amount payable. The Inheritance Tax must be paid within six months of the date of death. The personal representatives will also be responsible for settling income tax matters, dealing with the property etc.
All of this can become very time consuming, troublesome and worrying. In addition as a personal representative you could save money by appointing a solicitor when apply for a Grant of probate or letters. It really does make sense to appoint a professional as that is what we are here for at The Singh Partnership.
585 Lincoln Road
Peterborough PE1 2PB
Tel 01733 743 743
Fax 01733 743 744