Chapter 17 Transferring Real Estate after Death: Wills, Estates, and Probate.
Practical Guide to Wills & Probate
1
[email protected] EMAIL ELSE ON: LEGAL SOLUTIONS FOR YOU AND YOUR BUSINESS elselaw.co.uk VISIT & LEARN MORE ON: IF YOU WANT TO LEARN MORE? 01283 526 200 CALL ELSE ON: KEY AREAS OUR SOLICITORS SPECIALISE IN: DISPUTE RESOLUTION COMMERCIAL PROPERTY EMPLOYMENT LAW DEBT RECOVERY BUSINESS SERVICE INSOLVENCY & BANKRUPTCY WILLS & PROBATE SPECIALIST SECTOR ARRANGE THE FUNERAL WHAT DO YOU DO AFTER A LOVED ONE DIES: REGISTER THE DEATH: WHAT’S NEXT? WHO TO CONTACT AND NOTIFY OF THE DEATH: THINGS TO ORGANISE 1. Family & Friends Employer // Health professionals // Care or support services Register the death and receive the official Death Certificate Get the green form issued by the registrar for the funeral director Get the arrangements agreed with the funeral director and check for any specific wishes of the deceased within the Will Complete a ‘Tell us Once’ doc to inform all the government organisations Find out if there is a Will. If not, take legal advice on who benefits Make a list of all assets & liabilities at date of death Complete relevant inheritance tax inventory. If tax to pay-pay it All this can be quite confusing, but don’t worry Else can help. For a full list of our services see elselaw.co.uk 2. Financial Institutions Banks // Private pension // Credit cards // Any and all others 3. Property & Utilities Check all properties are secure and insured // Inform landlords // Inform mortgage suppliers 4. Government Department of Work and Pensions if not done already // HMRC // Local authority re. Council Tax etc // DVLA // Passport Agency 5. Others to remember Redirect post // Clubs // Hobbies TAKING CONTROL 1. Get oath prepared and sworn with the original will This is an application process to enable you to make decisions concerning the finances of the estate 2. Receive grant of probate This is your approval to deal with the estate details on behalf of the deceased 4. Pay debts All debts and any expenses should be settled in full 3. Collect assets & close accounts Simply put, this means that you should sell properties and collect assets, such as stocks and shares. 5. Prepare estate accounts This needs to be done in full to ensure all details are clear and accurate 6. Distribute what’s left in accordance with the Will or Rules of Intestacy Take a moment for yourself When a loved one dies, it’s a very stressful time... the complexities of dealing with wills and probate can be very taxing in addition to your grief. Here at Else we want to help wherever we can. We are able to assist at every stage to make the legal aspects as quick and painless as possible.
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Transcript of Practical Guide to Wills & Probate
[email protected] ELSE ON:
LEGAL SOLUTIONS FOR YOU AND YOUR BUSINESS
elselaw.co.ukVISIT & LEARN MORE ON:
IF YOU WANT TO LEARN MORE?
01283 526 200CALL ELSE ON:
KEY AREAS OUR SOLICITORS SPECIALISE IN:
DISPUTE RESOLUTION
COMMERCIAL PROPERTY
EMPLOYMENT LAW
DEBT RECOVERY
BUSINESS SERVICE
INSOLVENCY & BANKRUPTCY
WILLS & PROBATE
SPECIALIST SECTOR
ARRANGE THE FUNERAL
WHAT DO YOU DO AFTER ALOVED ONE DIES:
REGISTER THE DEATH:
WHAT’S NEXT?
WHO TO CONTACT AND NOTIFYOF THE DEATH:
THINGS TO ORGANISE
1. Family & FriendsEmployer // Health professionals // Care or support services
Register the death and receive the official Death
Certificate
Get the green form issued by the
registrar for the funeral director
Get the arrangements agreed with the funeral director and check for any specific wishes of the deceased within the Will
Complete a ‘Tell us Once’ doc to informall the government
organisations
Find out if there is a Will. If not, take legal
advice on who benefits
Make a list of all assets &
liabilities at date of death
Complete relevant inheritance tax
inventory.If tax to pay-pay it
All this can be quite confusing, but don’t worry Else can help.For a full list of our services see elselaw.co.uk
2. Financial InstitutionsBanks // Private pension // Credit cards // Any and all others
3. Property & UtilitiesCheck all properties are secure and insured // Inform landlords // Inform mortgage suppliers
4. GovernmentDepartment of Work and Pensions if not done already // HMRC // Local authority re. Council Tax etc // DVLA // Passport Agency
5. Others to rememberRedirect post // Clubs // Hobbies
TAKING CONTROL
1. Get oath prepared and sworn with the original willThis is an application process to enable you to make decisions concerning the finances of the estate
2. Receive grant of probateThis is your approval to deal with the estate details on behalf of the deceased
4. Pay debtsAll debts and any expenses should be settled in full
3. Collect assets & close accountsSimply put, this means that you should sell properties and collect assets, such as stocks and shares.
5. Prepare estate accountsThis needs to be done in full to ensure all details are clear and accurate
6. Distribute what’s left in accordance with the Will or Rules of Intestacy
Take a moment for yourselfWhen a loved one dies, it’s a very stressful time... the complexities of dealing with wills and probate can be
very taxing in addition to your grief.
Here at Else we want to help wherever we can. We are able to assist at every stage to make the legal
aspects as quick and painless as possible.
