Estate Administration & Probate
How does Probate Work?
Probate is the legal process of proving someone’s Will after their death. In layman terms it is the whole process of drawing up and dividing an Estate and Assets to the Beneficiaries after death.
LCS have an array of friendly and personable staff, who come with expert knowledge and innovative thinking and excel in making Probate a seamless process.
LCS have an array of friendly and personable staff, who come with expert knowledge and innovative thinking and excel in making Probate a seamless process.
In order to apply for Probate at the Probate Registry, you will need to gather all information regarding a deceased persons Estate including:
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bank accounts
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investments
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debts
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pensions
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property and any other valuable items.
You will then to consider any outstanding debts or taxes owed by the deceased and then administer the Will in accordance with their wishes, ensuring all debts and taxes are paid.
There are some instances where Probate isn’t required; for example, when an individual had minimal savings or where they own property held jointly with someone else, in which case this property will automatically pass to the surviving joint owner.
LCS provide an excellent Estate Administration service, taking the legal responsibility away from your Executors at a time when a loved one has been lost.
Contact us today to discuss our competitive rate of 1% plus, VAT + disbursements for administrating your loved ones estate.
Estate Administration
When someone has passed away their estate will need to be distributed to their chosen Beneficiaries as per their Will. This can be a lengthy and complex process, but we can help.
Legal & Contract Services Ltd have an array of friendly and personable staff, who come with expert knowledge and innovative thinking and excel in making Estate Distribution a seamless process.
Prior to distributing an estate it is vital that all debts, taxes and funeral expenses are paid.
Great care is needed to ensure that all legal obligations are met by your Executors prior to distributing the estate. If the estate is not distributed in accordance with legal requirements, some parts of the process can be missed and your Executors could be personally liable for any mistakes made and any Beneficiary missing out on inheriting.
Dying intestate (dying without a Will) could leave your loved ones unprovided for and in financial hardship.
People are often under the misconception that if they are married or in a civil partnership that they do not need to make a Will and that everything they leave will automatically pass to their spouse or civil partner, THIS IS NOT TRUE!
When someone has passed away and their estate has been administered and Probate granted if required, their estate will need to be distributed to the chosen Beneficiaries according to their Will.
If someone has passed away without a Will, this is called Intestacy. When this happens, the Law decides how the estate is distributed; this may be contrary to your wishes.