By Chris Ringham 29 Jan, 2020 0 Comments

We Provide Will & Probate Services In March & Wisbech

We provide will and probate services in March and Wisbech

If you require Probate services in the March or Wisbech areas, Bowsers Solicitors is on-hand to help you understand the process, including timescale information and what to expect.

Download the FREE Bowsers Guide To Probate today!
Probate: What Is It?

Probate is a legal and financial process involving the property, money and possessions of a person who has passed away. Before the deceased’s next of kin (or Executor of the will) is legally able to distribute, claim, transfer or sell any assets, they might have to apply to go through the Probate process. This can involve complex legal work which takes place over the five following phases:

1) Asset Identification

During this phase, your March or Wisbech-based lawyer will highlight assets (possessions, property, investments) and liabilities (unpaid bills, loans, other debts) of the deceased. Liabilities are deducted from assets to determine the value of the deceased’s estate.

2) Inheritance Tax Payment

Probate sometimes requires payment of inheritance tax to HMRC. Your lawyer will be able to submit an Inheritance Tax form on your behalf (regardless of whether any tax is due or not). At this stage, your lawyer will also help you apply for a Grant of Representation from the Probate Registry. This document confirms the authority of the executor to administer the deceased’s estate.

3) Administration/Settling Further Liabilities

After the issuance of a Grant of Representation, the deceased’s assets are liquidated to pay income tax/capital gains, settle liabilities and cover admin expenses.

4) Preparing Account Documents Of The Estate

Accounts which document the payments (both in and out) of the Estate will be prepared. These will show the remaining balance to be distributed among the beneficiaries of the Estate. These documents should be forwarded to each Personal Representative and approved by all parties.

5) Asset Transferral

If no challenges to the Estate have been issued, and there are no other mitigating factors which could prevent distribution, the final phase of Probate begins. This involves the transference and distribution of funds/assets to each beneficiary.

If you require will and Probate services in the March and Wisbech areas, why not get in touch with Bowsers today? We understand that Probate can be a stressful process, particularly if you’re struggling with bereavement. This is why we implement care, compassion and attention to detail in everything we do.

Probate errors can be costly and could even delay the division of funds and assets to the right beneficiaries – so why not allow our March and Wisbech-based experts to take care of all your disputes, legal paperwork and other issues during this difficult time? Call us and we’ll be happy to help.

Image source:

Image source: Pixabay

The Bowsers Guide To Probate

Image source: Pixabay

Arranging Childcare Between Two Households During Covid-19

By Chris Ringham 21 Sep, 2020 0 Comments

Figuring out childcare details when families are split across two households is complicated and stressful at the best of times, but the current...

Continue reading

Wills and Probate: A Covid-19 Update

By Chris Ringham 14 Sep, 2020 0 Comments

We are currently going through an incredibly unusual period, and due to lockdowns, office closures and furlough schemes, many processes,...

Continue reading

What You Need To Know About Landlord Rent Deferrals Under The Coronavirus Act

By Chris Ringham 01 Sep, 2020 0 Comments

When lockdown began, the government released the Coronavirus Act, which gave important details to landlords and tenants. It announced that from...

Continue reading

How Much Does A Divorce Cost In 2020?

By Chris Ringham 25 Aug, 2020 0 Comments

Nobody expects their marriage to end in divorce, but it happens more often than you might think. 42% of marriages in England and Wales currently...

Continue reading

What Does The Stamp Duty Holiday Mean For You?

By Chris Ringham 18 Aug, 2020 0 Comments

The UK government has announced a stamp duty holiday in England and Northern Ireland on all property purchases completed by March 31st 2021. This...

Continue reading

Conveyancing During Covid-19 Lockdown

By Chris Ringham 11 Aug, 2020 0 Comments

Buying a house can be a stressful time for many under normal circumstances. But the Covid-19 pandemic and lockdown have also made matters more...

Continue reading

Subscribe Here!

Guide To Boundary Disputes - Small CTA

Recent Posts