A Grant of Probate is always needed if the person who has died has left a Will, and owns any of the following:
- Any land or property in their name, or, which is co-owned by them as Tenants in Common
- Stocks, shares and policies
- Bank & Building Society Accounts (especially if savings total upwards of £5,000.00)
A Grant of Probate will not be issued by the Probate Registry until such time as all Inheritance Tax, due under the Estate, has been paid.
Letters of Administration
When a person dies without leaving a Will, it can create a very complicated situation.
We can assist you with gathering details of the assets owned by the person that has died and with making the application to the Probate Registry for A Grant of Letters of Administration. Usually, a close relative or friend applies to become the “Administrator”.
Administration of Estates
We are able to assist you with making application to the Probate Registry on the death of your loved one, irrespective of whether they died with, or without making a Will. We will help determine the exact value of all assets owned by the person who has died, as at the date of their death, and then complete the relevant Probate and Inheritance Tax Forms depending on whether Inheritance Tax is due on the Estate.
Currently, Inheritance Tax is only due on Estates exceeding the sum of £325,000.00. Estates exceeding this amount are liable to tax at a rate of 40% on the amount that exceeds that sum.
Upon receipt of the Grant of Probate / Letters of Administration, we shall then attend to the transfer of assets into the beneficiaries names in accordance with the terms of the Will / Intestacy Rules.