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Probate
I am an executor of a will and have read up on it but am still confused. The deceaseds' estate is only worth around £14000. Do I still have to get probate?
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Read this Kaz. We found that the tax form required (hc45 I think, was verr verr important, I may have the form number wrong but you get the drift). We managed our late mother's estate quite easily. Be prepared for many frustrations.
Read this Kaz. We found that the tax form required (hc45 I think, was verr verr important, I may have the form number wrong but you get the drift). We managed our late mother's estate quite easily. Be prepared for many frustrations.
togo is right
tons of sites telling you how to do it
DON't employ a solicitor- too expensive and you can do it yourself
first time is the worst - I wouldnt say there are frustrations - just there are rules you have to stick to because the officials will stick to them. For good reasons - once the estate is disposed of - its kinda gone big time.
if there is a house or belongings I found it useful to photograph digitally every room from a variety of angles - just in case mourning relatives say "they liddle netskis in the corner valuable they were and they're gone now !"
and you will be able to show "they gone then too"
also assists in assessing the list of belongings ( chattels list I think )
any further confusion repost
tons of sites telling you how to do it
DON't employ a solicitor- too expensive and you can do it yourself
first time is the worst - I wouldnt say there are frustrations - just there are rules you have to stick to because the officials will stick to them. For good reasons - once the estate is disposed of - its kinda gone big time.
if there is a house or belongings I found it useful to photograph digitally every room from a variety of angles - just in case mourning relatives say "they liddle netskis in the corner valuable they were and they're gone now !"
and you will be able to show "they gone then too"
also assists in assessing the list of belongings ( chattels list I think )
any further confusion repost
Hi Kazal
Sorry to here of your loss
Everything is explained here just take a big breath and follow the steps that are most appropriate
https:/
Sorry to here of your loss
Everything is explained here just take a big breath and follow the steps that are most appropriate
https:/
Technically, yes, and if you are passing the inheritance on to third parties it would certainly be advisable to cover yourself from any future claims. As Executor you would be personally liable.
However, if you are sole beneficiary as well, and there is no property or shares, check that their is no tax to be paid (or refunded) most Banks will pay out on a simple indemnity. Also if you take the invoice for the Funeral Expenses to the Bank for payment this will reduce the Estate even further.
Each Bank has it's own limit for this process, but most increased them last year.
However, if you are sole beneficiary as well, and there is no property or shares, check that their is no tax to be paid (or refunded) most Banks will pay out on a simple indemnity. Also if you take the invoice for the Funeral Expenses to the Bank for payment this will reduce the Estate even further.
Each Bank has it's own limit for this process, but most increased them last year.
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