| Following the death of a loved-one, it’s often necessary to apply for either a Grant of Probate or Letters of Administration to manage their estate, depending on whether they left a Will and the assets they owned. |
What happens when there is a Will?The Will names the executors and it will be their responsibility to administer the estate. They will need to collect in information about the assets and liabilities of the deceased and determine whether a Grant of Probate is required. What happens if there isn’t a Will?If a valid Will cannot be located, those that are entitled to administer the estate will be determined by the intestacy rules and are usually the nearest relatives. They are then known as the administrators of the estate.
The administrators will need to carry out a Will search to check whether any local solicitors or will writers are holding an original Will. If so, the executors named in the Will will administer the estate. If a will is not found, the administrators will need to determine whether Letters of Administration are required. Letters of Administration are the equivalent of a Grant of Probate where the deceased did not leave a valid Will. |  |
Applying for a Grant of Probate or Letters of Administration
The Executors or Administrators will need to ascertain whether an inheritance tax return will be necessary.
For any deaths prior to 1st January 2022, either a simple inheritance tax return (IHT 205) or a complex tax return (IHT 400) will be required. Which return is appropriate will depend on a number of factors including but not limited to the value and assets of the estate, the inheritance tax liability and available reliefs.
For any deaths following the 1st January 2022, the IHT 205 is no longer required and the threshold requirements for the IHT 400 have been increased.
If an IHT 205 is required, this will be sent to the Probate Registry to review along with a signed Legal Statement. If an IHT 400 is required, the return along with the associated schedules will be sent to HMRC to review. The probate application must then be sent to the Probate Registry no sooner than 15 working days later.
The Probate Registry will then review the application and if necessary, raise any queries before issuing the Grant of Probate or Letters of Administration.
How long will the process take?
Depending on the size and the complexity of the estate, it can take on average between 3 to 12 months to administer an estate. In some cases, where there are additional factors to consider, such as locating lost assets or beneficiaries, the process will may take longer.
At present, the Probate Registry have confirmed that applications are taking roughly 16 weeks to process once the application has been submitted.
How can we help?
We have broken down the administration process into the 4 key steps as follows;
1. Collect the financial information from the banks, building society, pension providers, insurers etc. required to make a probate application;
2. Draft the relevant IHT return and probate application;
3. Collect in the deceased’s assets and arrange payment of liabilities;
4. Distribute the beneficiaries entitled under the Will or the Intestacy Rules.
Our experienced and friendly team of probate specialists have been serving clients across the wider Felixstowe and Ipswich areas since 1988, and are able to assist with all probate enquiries. Whether this be assisting with the probate application and inheritance tax forms only, our full administration service which covers all of the steps listed above or somewhere in between.
We can also provide advice regarding specific queries that an executor or administrator may have to help you apply for a
Grant of Probate or Letters of Administration yourself on a fixed fee basis.
At FairStep, we offer professional Probate services to clients throughout Suffolk. Our team of experienced professionals understands that losing a loved one can be a difficult and emotional time, and the legal process of Probate can add to the stress. That's why we offer a compassionate and efficient service to help alleviate some of the burden. Whether you require assistance with obtaining a grant of probate, administering an estate or dealing with inheritance tax, our team of experts can guide you through the process. We have a wealth of experience working with clients in Suffolk and are committed to providing tailored solutions to meet the specific needs of our clients. At FairStep, we pride ourselves on our attention to detail and exceptional customer service, making us the ideal choice for your Probate needs in Suffolk.
If you are interested in using our specialist probate services, please give us a call on 01394 277 941, or fill in our online contact form, and we can discuss your requirements in further detail.
Why Use Our Probate Services?
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