Yes – It is possible to administer the Estate yourself, once you have obtained a Grant of Probate. However there may be several reasons why you should use a professional such as Capital Life. You must ensure that all the correct procedures are followed, you must value the Estate, complete the correct HMRC forms and ensure that all taxes and debts are paid, and you are also responsible for any distributions made to beneficiaries of the Estate. It is not an easy job at all, and as such many people prefer to use a professional company to ensure everything is done correctly.
What is a Grant of Probate, and how do I obtain one?
A Grant of Probate is a legal document giving the Executor (persons named to deal with the Estate of the deceased) the legal permissions to administer the Estate. Before you can apply for this document, you must estimate and report to HMRC the value of the estate, and you also need to determine whether there are any taxes to due to HMRC.
Can my friend act as an Executor and obtain a Grant of Probate?
Yes, however, the process can be quite daunting, time consuming and labour intensive, therefore you may wish to use the services of a Professional Probate Practitioner. Capital Life’s legal team are experts in this area, allowing you to hand over the complex tasks and save time, giving the responsibility of the legal work to us.
What is Probate and can I get help with it?
Probate is the legal term which involves getting permission for dealing with a deceased persons estate. You are responsible for ensuring that all accounts, debts, and possessions are dealt with are closed and the Will is correctly administered. It can be a long and complicated process and a huge burden for someone to deal with. Capital Life have in house Solicitors that specialise in Probate, why not give us a call today to see how we can help.