Practical Guide To Obtaining Probate , livre ebook

Straightforward Publishing - Peter Wade

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100 pages

English

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A PRACTICAL GUIDE TO OBTAINING PROBATE, Revised Edition is a concise and informative guide to the processes that underpin the practice of the administration of estates. The book is designed for those people who are involved in obtaining probate and acting as executor who wish to understand more about this complex area. The book is fully updated to 2022.

Informations

Publié par	Straightforward Publishing
Date de parution	15 décembre 2022
Nombre de lectures	0
EAN13	9781802362046
Langue	English

Informations légales : prix de location à la page 0,0300€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

Extrait

A Practical Guide To Obtaining Probate
Revised Edition
Peter Wade
Editor: Roger Sproston
Emerald Guides www.straightforwardbooks.co.uk
Emerald Guides
Peter Wade Estate Revised Edition 2022
Peter Wade has asserted the moral right to be identified as the author of this work.
All rights reserved. No part of this publication may be reproduced in a retrieval system or transmitted by any means, electronic or mechanical, photocopying or otherwise, without the prior permission of the copyright holders.
ISBN: 978-1-80236-141-4 EPUB ISBN: 978-1-80236-204-6 Kindle ISBN: 978-1-80236-207-7
Printed by 4edge Ltd www.4edge.co.uk
Cover design by BW Studio Derby
Whilst every effort has been made to ensure that the information contained within this book is correct at the time of going to press, the author and publisher can take no responsibility for the errors or omissions contained within.
CONTENTS
Introduction
Chapter 1. Probate Generally
Chapter 2. Drafting A Practical Will-Taking All matters Into Account
Chapter 3. Being Aware of Enduring Powers of Attorney and Lasting Powers of Attorney
Chapter 4. Before The Grant of Probate-Estate Valuation and general tasks
Chapter 5. Making The Application-After the Grant-Distribution of the Estate
Schedule of Standard Letters
Glossary of terms
Useful Addresses
Index
Example Probate Forms
INTRODUCTION
The saying goes that we can avoid everything except death and taxes. Maybe probate has the unique distinction of dealing with both these activities. We cannot avoid death but we can avoid taxes.
The proper regulation of one's estate can certainly minimise inheritance tax and maybe get rid of it entirely.
Life becomes more complicated by the day but it is possible without running up excessive legal fees to prepare a valid will and as an executor to undertake probate of someone s estate without legal help.
A good definition of probate is very high-class administration. We can do it if we follow the checklists assiduously and keep a note of everything we do. If every piece of paper is accounted for and filed properly then probate should not be too difficult. With the advent of the Internet these things are more easily undertaken by the organised amateur.
The minimum you will need is
1. Telephone
2. Computer
3. Somewhere to file all the letters.
This book attempts to take you through a typical probate transaction and to supply you with checklists, addresses, telephone numbers, and website addresses and draft letters. I have tried to keep the text uncluttered by keeping the nonessential items to the appendixes. There will be notes in the text where these things can be found.
I purchased my first house by using a book although I did have the advantage of working in the legal department of a local authority. I knew nothing about practical conveyancing. I am a great believer in how to books . They can at the very least take out this mystique of what the professionals try to wrap up as being very complicated indeed.
Wills and probate are not brain surgery but you have to follow a procedure precisely to get it right. At the end of the process, you can save thousands in legal fees.
WRITING YOUR OWN WILL
Everyone over the age of 18 should make a will. Although in the public s view making a will is a straightforward matter it can have devastating effect if not written and executed properly and if there is no will. The safest advice is to always get a competent person to draw up and have a will executed for you. You can then rest assured that your wishes will be carried out in the event of your death.
Also, if you execute it whilst you are fit and well there is less likelihood of it being overturned by beneficiaries claiming that you were not competent to do it.
If you are in any doubt about your own ability to draw up and execute a will you should get a solicitor to do it for you. At the very least your beneficiaries will be able to sue the solicitor in the event of him or her being incompetent or your beneficiaries missing out because of negligence. If you draw up a poor will, they will regret for the rest of their lives that you had not taken competent legal advice which comes relatively cheaply for a straightforward will.
Unfortunately, the chance of inheriting does not bring out the best in people. Also, families in those circumstances do not seem to enjoy themselves more than when they are falling out over money. We all believe that it would not happen in our family as we are not so petty and mercenary but in my experience no one is exempt.
We would much rather total strangers get part of the estate than let undeserving members of our own family.
We all have someone to whom we do not wish to leave our estate even if it's only the taxman. Or, on intestacy, ultimately the State. If you leave it to the cats' home provided it is a charity you save the tax and keep it out of the Chancellor s hands. A satisfying outcome
WHY MAKE A WILL?
If you do not have a will then your estate will be distributed in accordance with the rules of intestacy. Intestacy means when there is no will. A testator is the maker of a will.
Apart from limited circumstances you have freedom to leave your estate to whomever you like unlike some other legal systems such as in France. You are entitled to go to the stationers and use a will form. The only problem with that is that it may work but any mistake in execution will invalidate your wishes.
Everyone should make a will and think about updating it regularly as your circumstances change. Finally, this book deals with probate in England and Wales. For information concerning Scotland: www.scotcourts.gov.uk/taking-action/dealing-with-a-deceased's-estate-in-scotland . For Northern Ireland:
www.nidirect.gov.uk/applying-probate
COVID 19 and the process of probate
It is worth mentioning the effects of the Coronavirus on the process of probate generally. As you read this book,
The Probate Registry
This is a section of HM Courts and Tribunal Services (HMCTS) that issues letters of administration or a grant of probate. Try not to worry if you haven t heard from the Probate Registry as quickly as you might have expected as HMCTS has advised that following coronavirus/COVID-19, in 2022, there may be some delays in providing grants of representation as a huge backlog has built up.
Registering the death
Registration of the death is usually done in person, however, due to the ongoing backlog in 2022, this is now usually done by telephone. The registrar will liaise with the coroner or doctor who certified the death, as well as the funeral director, to minimise face-to-face contact. The death certificate can then be applied for online and sent to you or your professional advisor.
Administering an estate
Simple estates
We discuss administration of estates further on in the book. In brief, if the estate is simple, for example, everything is jointly owned or the estate is valued at less than 5,000, you may not need a grant of representation and you should be able to administer the estate without professional help.
More complex estates
If the estate is more complex, you are likely to need the assistance of a professional.
This might include estates where:
There are a variety of assets, including property that needs to be sold
There is a possibility that the will might be disputed, for example where a dependant has been left out and it is likely that they will want to make a claim
Some assets are held in trusts, or there is a request in the will that a trust is set up
There are missing beneficiaries
The value of the estate is substantial and may exceed the inheritance tax threshold
If multiple properties, overseas property, investments or businesses are included in the estate or inheritance tax issues are likely, professional help will be required.
In chapter 1 , we discuss probate generally.
****
Chapter 1
Probate Generally
What is probate?
When a person dies, it is necessary for someone to be appointed, with legal authority, to manage the deceased s financial affairs and wind up his/her estate. In law, the uncompleted financial matters of a deceased are known as the estate and the person who is given the legal authority to wind up the estate is called the legal personal representative. After the application for probate, the document which proves the legal authority of the personal representative is called the grant of representation to an estate.
Where to get a grant of representation to an estate
Grants of representation to an estate are obtained from an office of the High Court known as the Probate Registry. The process of obtaining the grant is commonly known as probate .
If someone leaves a will but dies without appointing an executor to carry out the terms of that will, or if the executors who are appointed by the will are unable or unwilling to carry out the duties of an executor, then the grant of representation obtained from the probate registry to prove that the will is a valid one and to authorize the person who obtains it to carry out its terms is called letters of administration with the will annexed . If someone dies without making a will, that person dies intestate and the grant of representation obtained from the probate registry to authorize someone to wind up the estate is called letters of administration of the estate . Those who obtain letters of administration are known as administrators of the estate. The main difference between the executor appointed under the will and the administrator of an estate are that an executor s powers are given by the will and are more or less immediate whereas the administrators powers cannot be exercised until the Registry has appointed the administrator.
Presumption of Death Act 2013
The Presumption of Death Act, 2013 allows relatives to apply for a single certificate declaring someone presumed dead, helping them resolve that person's affairs.
Its creation