Legal process form an important part of life. They help to regulate interactions with others, money, property and many other aspects of day-to-day existence. At some point, everyone needs to face the idea that life comes to an end – either through the passing away of a relative or thinking about how their estate will be divided once they are gone. Probate is a part of that.
Part our job here at Andrew & Andrew, as a firm of legal professionals, is to guide you through the times in your life when the law comes into play. We do this in lots of different ways and one of them is by acting as probate solicitors in Portsmouth.
What is probate?
Probate is a catch-all term for the legal and financial processes that happen when a person passes away. It covers what happens to assets including property, bank accounts, shares, pensions and so on. As probate solicitors in Portsmouth, we are often engaged to help with these processes and ensure compliance with the law.
Other probate terms
There are lots of legal terms involved in the probate process. As a probate solicitor in Portsmouth, we can ensure that our clients are fully conversant with these, if they need to be. There are just some of the terms:
- Grant of probate – this is the document that allows someone to act on behalf of the deceased when interacting with banks and other institutions;
- Will – this is a legal document detailing the deceased’s wishes. It contains information about executors, how assets should be divided, details about anyone who is excluded from the will and why and perhaps instructions regarding their funeral. If there is no will, the estate is divided among close relatives according to the law. If there are no relatives then the proceeds of the estate are given to the state;
- Executor – this is an appointed administrator whose job it is to ensure that things like inheritance tax and outstanding debts are paid. They also track down beneficiaries and ensure that the estate is divided according to the will. Sometimes a solicitor is named as an executor if there are lots of legal issues involved in the division of the estate.