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Wills & LPA

What is probate, and do I need to apply?

Probate is the process an appointed person goes through to deal with the estate of a person who has died. The appointed person may be next of kin, a family member, a friend or a solicitor.

If there is a Will, the appointed person is likely to already be nominated (executor), but if there is no Will or no one has been named, then a beneficiary or next of kin may apply for Letters of Administration to deal with the estate.

You may not need a grant of probate if the estate is small, or assets are held jointly by a spouse or civil partner.

Why probate matters

Probate ensures that a person’s estate is distributed fairly and lawfully. It also means that someone can settle remaining liabilities, pay any outstanding tax, report the estate value and tax liability to HMRC and sell any assets such as property.

Handling probate properly reduces risk, protects executors, and provides confidence for families through:

  • Ensuring executors and administrators follow the rules and timelines set by law
  • Managing complex assets such as property, businesses, and investments
  • Managing tax obligations with correct calculations, and settling inheritance tax, income tax, and capital gains tax where applicable
  • Prevention of potential mistakes and disputes by ensuring all duties are fulfilled properly
  • Ensuring all inheritances are distributed fairly and transparently to the beneficiaries

Contrary to common belief you do not need to engage a solicitor for probate work unless for example, the terms of the Will are unclear or challenged.

What we can do for you

The joy of being a flexible practice is that we can help you with as much as is needed to feel confident about probate matters.

Here’s how aventae can help:

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Providing clear guidance on every stage of the probate process

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Providing guidance on valuations for assets and liabilities within the estate
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Complete inheritance tax (IHT400) and other required forms
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Reviewing for any tax planning opportunities
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Collaboration with legal advisors

Ready to get help with probate?

Amanda heads up the probate work within aventae. In five steps she will support you through probate from start to finish:
1

Initial conversation

We begin by getting to know your current position and the work that needs to be done
2

Valuation and assessment

Calculating any exposure to inheritance tax and required reporting
3

Grant of probate

We can assist with gaining the grant of probate
4

Tax planning

We are always on the alert for any tax planning opportunities which can include tax efficiency after someone has died.

Get in touch

It has always been important to Amanda and the aventae team that no fees or charges are committed to until the adviser/client relationship is ready to move forward.
Probate can be a complex and emotional matter, but we’re here to face it with you when you’re ready.
Get Started