When clients come to us to discuss their Wills, they often express a common concern: “How can I avoid the need for a Grant of Probate? I want to make things easier for my family.”
It’s a valid point, as many people mistakenly believe that by having a Will or adding a specific clause they can avoid the need for a Grant of Probate. However, the reality is that it’s not the Will itself, but rather the assets within your estate, that determine whether a Grant of Probate is needed.
In this blog post, Walker Foster Wills and Probate Executive Cay Schofield explains the circumstances where probate is and isn’t necessary, and the benefits of having a valid Will in making this process easier.
Some assets can be transferred without the necessity of a Grant of Probate. Here are a few examples:
In contrast, a Grant of Probate will be required under the following circumstances:
Having a valid Will can simplify the process of obtaining a Grant of Probate. It is important to update your Will to accurately reflect your wishes and ensure it is legally valid. At Walker Foster, we offer Will review services to help you make sure that your Will is valid and your intentions are clearly outlined.
Additionally, some estates may be required to submit an Inheritance Tax return to HM Revenue and Customs (HMRC) before applying for Probate. As with any dealings with HMRC, an executor should take expert guidance to correctly fill out forms and provide necessary information.
While a Grant of Probate can seem daunting, understanding the factors that necessitate it can help demystify the process. By having a valid Will and being aware of the specifics regarding your assets, you can take steps to smooth the way for your loved ones during a challenging time.
If you have questions about your estate planning or would like to discuss a Will review, our team at Walker Foster is here to help. Find out more about our Wills and Trusts services to learn more about how we can assist you.
Powers of Attorney (PoA) and Lasting Powers of Attorney (LPA) provide peace of mind that, should you become unable to make decisions yourself, a trusted person you have chosen will act on your behalf. They will be able to manage your affairs in line with your wishes, ensuring important matters are handled with care and responsibility.
When someone dies, everything they own - known as their estate - must be carefully managed and distributed in accordance with their wishes as set out in their will. This process involves not only passing assets to the chosen beneficiaries but also handling debts, taxes and legal formalities along the way. For many, this can be a daunting and emotional task, especially during a time of grief.
When a loved one passes away, going through the process of administering their estate will always be emotional and complex. But when the original will cannot be found, the situation becomes even more difficult - raising questions about the deceased’s true intentions and creating uncertainty for those left behind.
After talking to clients about the planning of their affairs, we at Walker Foster discovered a common misunderstanding over the difference between an executor and an attorney.
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