Our Probate Solicitors Answer Common Probate Questions
Posted on 22nd June 2020
When your loved one has died, you may need to apply for Probate to be able to deal with their Estate.
A person’s Estate is made up of all of their assets, such as any property that they own, money in their bank or savings accounts, stocks, shares and any other investments. It also includes any liabilities, such as credit cards, loans, and mortgages. The liabilities could also include unpaid utilities, such as gas, water or electric. On top of these assets and liabilities, a person’s Estate will usually include Testamentary expenses, such as legal fees, funeral costs and the probate registry application fee.
For general guidance about the process of applying for Probate, who can apply, and some more answers to common Probate questions, read our Probate Solicitors in Lancaster’s blog, below.
What is Probate?
Probate is the collective term used frequently by Probate Solicitors and organisations to refer to the document which grants legal authority for a person to deal with an Estate. Another common term used is applications for Grants of Representation. The most common types of Probate applications which our Wills, Trusts, Tax and Probate Solicitors in Preston and Lancaster deal with are applications for Grants of Probate or Letters of Administration.
Who can apply for Probate?
Depending on whether or not the deceased left a Will, will depend on who can apply for Probate. If there is a Will, the Executors named can make an application for a Grant of Probate. In there is no Will, the person or people who are entitled under the Rules of Intestacy will be able to make an application for Letters of Administration. You can read more about the Rules of Intestacy in our Probate Solicitors’ blog, here.
Executors or Administrators can be known collectively as Personal Representatives.
How much does it cost to apply for Probate?
If the Executors or Administrators of the Estate are applying themselves, there will be an application fee payable to the Probate Registry of £215 (if the Estate is valued over £5,000). With this fee, the Personal Representatives usually receive one copy of the official Probate document. Additional copies come at a cost of £1.50 per document.
If you require the assistance of our team of Probate Solicitors in Preston or Lancaster, our fees would usually be £500.00 plus VAT, plus any disbursements (such as the Probate Registry application fee, discussed above). This fee covers a normal application for Probate, but wouldn’t cover any additional work, such as assistance in dealing with the Estate administration.
How long does it take to apply for Probate?
In terms of the preparation of the application for Probate, this could depend on how complex the deceased’s Estate is. If it’s a fairly straightforward Estate and there are only a few assets (such as a few bank accounts, a property and only a few personal chattels), the preparation of the forms may take a week or two to prepare. If there is information outstanding, such as final balances of any accounts or property valuations, our team of Wills, Trusts, Tax and Probate Solicitors would not be able to complete the application forms until we had this information, and therefore the forms may take slightly longer to prepare.
Once the application forms have been submitted to the Probate Registry, they will process the application, and the Grant of Probate or Letters of Administration will usually be issued within 6 to 8 weeks. It’s worth noting that, quite often, the applications can be issued quicker than this, unless the Probate Registry are experiencing delays.
You can keep up to date with the current Probate Registry timescales on their website, here.
How to instruct MG Legal to deal with Probate
Our expert team of Wills, Trusts, Tax and Probate Solicitors in Preston and Lancaster can guide you through the process of making an application for Probate. You can contact our team of Probate Solicitors online, here, or email email@example.com for a call back within one working hour.
At MG Legal, we understand that when you’ve lost a loved one, you can need clarification straight away on what you need to do. That’s why our team are here for you straight away; we will arrange an initial consultation with you to discuss your loved one’s Estate, and then, once you are ready to proceed with your application with our assistance, we can arrange a full consultation to take all of the details that we need to start preparing the application forms.
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