Will Issues after the Death of a Parent
The death of a parent drains a person emotionally, leaving an impact that will take time to diminish. If your parent has not left a valid Will, their property must be shared according to the rules of intestacy. Under these rules, only married and civil partners and some close relatives can inherit the person’s property. If there is no valid Will, then the Court appoints an administrator to handle financial matters of the deceased. If the parent has left a valid Will, then the executor must manage his/her property and the distribution of the estate. Here are some things that will need your immediate attention:
· First, you must assess all the property left behind and find out if there are any debts to be cleared.
· You need to report to the Tax office to determine whether any Inheritance Tax may be due.
· You need to apply for a Grant of Probate/ letter of Administration from the Court and get in touch with all asset holders to collect and submit their closure/transfer forms to set the ball rolling.
· You can't sell the property or transfer it to the beneficiaries until probate has been granted. In case the property was rented, all dues must be cleared.
· Prepare an estate account, finalise its value and get it approved by beneficiaries.
Doing all this on your own can be quite onerous as a lot of legal processes are involved. It is best to hire a legal expert who can help you sail through this emotionally difficult time. It can be a bit expensive, but by choosing carefully, you can minimise the cost. Using professional executors takes care of a lot of problems. A solicitor can guide you effectively, taking you smoothly through the maze. For any help in situations like this, you can trust Will Associates to offer you the right guidance. Spread across the UK, they have a huge team of qualified and trained legal experts. You can download their free guide with step-by-step instructions on how to go about the whole process. Alternately, you can call/email them with your queries and they will help you find the right expert to suit your needs. Established in 2010, Will Associates have grown rapidly to become the largest Will writing and legal services company within a short span. Their consultants come over to your home to listen to your requirements and take it forward from there. Once you hire The Will Associates, you can rest assured that you are in safe hands. Losing a parent is an emotional loss no doubt, but a lot of legal processes need to be taken care of thereafter. Until you work with a reliable expert, your parent’s hard earned property is at risk.
For any additional information contact The Will Associates by calling us on 0800 9500 700 to arrange a free, no obligation consultation at a time convenient to you and your loved ones, in the comfort of your own home.