If you have lost a family member or a loved one then we understand that this can be one of the most distressing times in your life. The emotional turmoil of their death is often worsened by the legal process that follows, which is known as probate. Probate is the legal procedure that takes place after the death of your loved one, which will determine how their assets will be distributed.
If your loved one left a will then the executor named in the will is responsible for handling probate. If your loved one had a sudden or unexpected death and there is no will, the court will decide the rules of inheritance.
We want to help ease the process for you. We have over 60 years of experience in dealing with probate law and we help resolve simple probates as well as highly complex cases. If you are the executor and have been given the responsibility of dealing with the estate of your loved one then you need to speak to us at Andrew and Andrew and let us delegate one of our specialist probate solicitors Portsmouth to you. Our probate solicitors Portsmouth are here to help you initiate and close probate with ease and without any complications or unnecessary delays. We can also help you carry out your role as an executor correctly, avoiding any common mistakes which may cause financial loss or be detrimental to the final outcome.
What happens next?
To begin with our probate solicitors Portsmouth will collect the necessary documentation from yourself. This includes the death certificate of the deceased, your details and the details of any other executor, a copy of the will and a statement of truth. Then we can begin the probate application. We will need to calculate the value of the estate. The value of the estate is made up of the money that your loved one had including cash and in their bank accounts; any money that was owed to them; their property, cars, jewellery, other personal possessions and also any shares that they may have invested in. The value of the estate may also include any money paid out on a life insurance policy.
Our probate solicitors Portsmouth will carry out these calculations on your behalf and speak to all the necessary authorities where possible with your instruction. We will then calculate your loved one’s liabilities, which means finding out any debts that they owed. This includes mortgages, utility bills, credit cards and personal loans.
The next step involves collecting all the monetary assets and paying all outstanding debts. This is a very important part of the process, because as the named or delegated executor of the estate you may be responsible for any unpaid liabilities. All debts are paid from the estate. With the remaining value of the estate, if there is any inheritance tax to pay then this needs to be done now too.
Finally you can distribute the remaining assets according to the will, or where there is no will in place, according to the laws of intestacy. The probate process can be long and complicated so speak to us today and let us help you achieve a positive outcome for everyone involved.