When a person dies, the process of handling their estate is called probate. The process for officiating probate is slightly different where a person has not left a Will and the estate has fallen into intestacy. There is also a specific order in which an appointed executor has to handle the deceased’s affairs.
What matters are handled in probate?
A person's estate in probate will encompass everything owned by the deceased or accountable to them, including real property, movable property, bank accounts, debts and liabilities.
What is the process for obtaining probate?
In order to gain control of the deceased’s assets, including bank accounts, they will have to obtain a Grant of Probate or Letters of Administration from a court. Letters of Administration are required where the estate is intestate.
Order of handling affairs
After an inventory has been made of all assets belonging to the estate, the executor will settle tax liabilities and debts owed to creditors. After this, the executor will proceed to distribute the estate to beneficiaries in accordance with the testator’s Will or in accordance with statutory rules on intestacy.
Contact our Wills and Probate Solicitors London
Family law cases involving Wills and distribution of assets can become very complex where there are varied interested parties, including in-laws, former spouses and children. An intestate estate in particular entails myriad statutory rules governing distribution.
The Wills and Probate Lawyers at Lewis Nedas offer a tailored, focused review of your family circumstances in order to determine how best to navigate individual relationships and appoint effective administration of your estate. For more information, please contact us on 020 7387 2032 or complete our online enquiry form.