What is Probate?

Probate is the legal term for the process of settling the estate of someone who has died; sorting out what happens to their money, property and other assets.

Assistance with Probate

When a family member or close friend dies, it is an emotional and stressful time. With so many legal and administrative issues that require urgent attention it can become totally overwhelming.

We can explain the process and draw up a detailed schedule of any assets and liabilities. With your authority, we can deal with all the banks, building societies, pension services, mortgage, credit card or loan companies. We also prepare the paperwork required by the Government departments to agree the Inheritance tax position with HM Revenue and Customs (HMRC) and apply for the Grant of Probate.

The Steps of The Probate Process

The process of Probate can seem daunting and, in some cases, especially when there is no Will, it can be a long and drawn out affair for anyone with neither the time or the expertise.

This is a simplified list of the steps of a straightforward Probate:

Research and assess the value of the deceased person’s estate
Calculate the Inheritance tax (IHT)
Submit the IHT returns to HMRC
Gather the assets and pay any debts and creditors
Advise beneficiaries and executors of the tax implications connected with selling assets
Apply for a Grant of Probate
Deal with any Income and Capital Gains Tax liabilities of the estate
Distribute the estate assets
Prepare tax returns for the personal representatives
Provide final estate accounts

You can see more information about these steps in our Probate FAQ page.

Why Use South Hams Wills and Probate Services?

Based in Kingsbridge, we are one of the few firms in the South West to be accredited and licensed by The Institute of Chartered Accountants in England and Wales to carry out the reserved legal activity of non-contentious Probate. Previously this service has been reserved only for solicitors or the legal departments of the major banks.

Being local Chartered Tax Advisers and Chartered Accountants, we are ideally suited to help you by dealing with all the financial matters, preparing all the necessary Inheritance Tax returns and calculations, as well as obtaining the Grant of Probate.

Lower Costs at a Costly Time

As you are probably aware, the costs associated with illness and death have risen greatly over the last few decades. The cost of the funeral can come on top of high care fees, care equipment and home adaptations, not to mention any private treatments that were undertaken. A solicitor’s fee to deal with Probate just adds to that cost.

We are a local small business and our charges are based on time taken, rather than a percentage of the estate, which is the approach often taken by a solicitor or bank. We are therefore very cost-competitive compared to these other traditional Probate specialists. See our costs on the FAQS page about Probate.

Compassion and Support

South Hams Wills and Probate will support you at a very difficult time. We will keep you informed at every step, whilst guiding you through the labyrinth of legalities, forms, tax issues and paperwork.

You can be assured that we will treat you with compassion and handle your legal and financial affairs in the strictest confidence. Our goal is to minimise the burden on you and help you get through the Probate process as quickly as possible.

Local and Personal Service Based in Kingsbridge

Please call Vanessa now on 01548 858806 for a free initial consultation and to discuss how we can help you. We can visit you in your own home or we can arrange a meeting in our Kingsbridge office. We are just out of the main town with easy parking.

More Information on Probate

You can also look at our Frequently Asked Questions (FAQs) page about Probate if you would like more general information at this stage. However, in our experience all cases are different, so feel free to ask a specific question via our Contact page.

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