Find the Right Probate Solicitors Penrith

After a person dies, their assets are distributed to their beneficiaries in a process called probate. In order to do this, you must first obtain a probate grant – a document required by financial institutions such as building societies and banks. This will guarantee that money or belongings are sent to the correct recipient.

It depends on a range of factors. Even if you’ve been named as an executor of a will, it may still be required by the probate court. If you’re unsure whether probate is necessary, our Penrith probate and wills solicitors can help with any queries.

If you agree to it and are named as the executor in a will, then it is your responsibility by law to deal with probate. However, if there is no other designee, next of kin are held accountable.

Our Penrith office will handle all of the paperwork and keep you informed on our progress every step of the way.

Probate is necessary in England and Wales when the estate of a deceased person is valued at more than £5,000. Anything below that can be distributed without going through probate.

Some other instances where a will might not need probate are if:

• All of the assets are jointly owned
• All of the assets are held in trust
• There is no real estate involved

Reasons why probate might be required include:

• If the estate is worth more than £5,000
• If the deceased did not have a joint owner or beneficiary named on their accounts
• If the deceased owned real estate in their name only

If you’re unsure whether probate is necessary in your situation, it is best to contact a legal representative. Our Penrith solicitors are more than happy to offer bespoke advice on the next steps to take.

The time it takes to complete probate is determined by the estate’s size and complexity. A minor, straightforward estate might be completed in a month or two, while a bigger one with many properties and foreign assets may take up to a year.

What’s The Probate Threshold in England?

There is no probate threshold in England and Wales at this time. Instead, the bank or building society will count the number of accounts the person held and make a decision from there.

If you have any questions about how the probate tax threshold may apply to possessions or property you stand to inherit, contact our Penrith office for guidance. 

Probate is the legal process of distributing a deceased person’s assets to their beneficiaries.

Administration is similar to probate, but is used when the deceased did not leave a will. In this case, the administrator must follow the intestacy rules to distribute the assets.

At Legacy Wills and Probate, we understand how difficult it can be to deal with probate or estate administration issues, so please do not hesitate to reach out to our Penrith solicitors. 

Yes, a death certificate is required by law, but an interim certificate can be used for the time being if you haven’t received it yet. If you’re having difficulty getting a copy of your deceased loved one’s death certificate, Penrith probate and wills solicitors may be able to help you.

It’s impossible to grant probate until all taxes, including inheritance tax, have been paid. If you don’t pay inheritance tax before it compounds interest, HMRC will begin charging that interest on the outstanding amount. This might potentially reduce your overall inheritance or take money out of your personal account.

To avoid interest from accumulating, contact our experienced legal team today. We’ll have a Penrith wills and probate solicitor that is right for you.

Funds from a deceased person’s estate are used to pay inheritance tax to HM Revenue and Customs (HMRC), which is done by the executor of the will. The beneficiaries don’t typically pay tax on anything they inherit.

However, depending on how complicated the situation is, you may be required to pay taxes out of the probate bill. Our Penrith solicitors are skilled in probate law and can help you better understand the fees involved. 

By law, you must obtain a probate grant in order to access a person’s possessions. This paper is required by financial institutions such as building societies and banks to ensure items are delivered to the correct person.

A close acquaintance, civil partner, spouse, or other family member can apply for a grant of probate. Their relationship to the deceased is not relevant; any connection will suffice as long as they are named in the will.

There is no fixed fee. The cost of settling an estate is determined by the size of the deceased’s property. For example, if the estate is big, more complicated tax forms and higher probate fees will be required.