Preparing for every eventuality is somewhat hard to fathom let alone implement. At Titan Solicitors we have taken the time to put together a team who have been trained to take extra care in dealing with sensitive matters in areas including;
A will states what should happen to a person’s property and belongings (‘estate’) after they die. It’s usually valid if it’s been signed by the person who made it and 2 witnesses.
Only certain people can apply for probate to deal with the estate of someone who died. It depends on whether the person who died left a will.
You can apply for probate if you’re named in the will, or in an update to the will (a ‘codicil’), as an ‘executor’. You’ll need the original will and any updates to apply for probate. These must be original documents, not photocopies.
Where there is no will the administrator deals with the estate also known as intestate. You can apply to become the estate’s administrator if you are the most ‘entitled’ inheritor of the deceased’s estate. This is usually the deceased’s closest living relative.
This means dealing with all of their assets (e.g. property, personal possessions, shares and bank accounts), paying any Inheritance Tax and Income Tax and distributing inheritance to the estate’s beneficiaries. Estate administration can often be extremely complex, time-consuming and an added stress at an already difficult time for the Executor or Administrator.
Obtaining the grant of probate is usually a part of estate administration but it is so much more and could involve:
- Applying for probate of confirmation
- Completing all Inheritance Tax forms
- Income Tax work for the year of death
- Postal redirection
- Registering unregistered properties
- Valuing assets
- Property valuation and sale
- Cancelling or transferring utilities
- Distributing funds to beneficiaries
Lasting powers of Attorney
A lasting power of attorney (LPA) is a legal document that lets you (the ‘donor’) appoint one or more people (known as ‘attorneys’) to help you make decisions or to make decisions on your behalf.
This gives you more control over what happens to you if you have an accident or an illness and cannot make your own decisions (you ‘lack mental capacity’).
You must be 18 or over and have mental capacity (the ability to make your own decisions) when you make your LPA. You do not need to live in the UK or be a British citizen.
There are 2 types of LPA:
- health and welfare
- property and financial affairs