The legal process of administering an estate can be complex and overwhelming during an already stressful and sensitive time. There are substantial benefits in seeking the help of a trusted probate solicitor during this period of bereavement.
An experienced solicitor is able to navigate the legalities of your matter with impartial judgment, whilst having a compassionate understanding for your family circumstances. They provide much needed independent and professional support during a challenging time for all involved.
Executors are personally liable
Acting as an executor is an onerous task where you must ensure the estate is administered correctly, to avoid being personally liable to the estate. For example, if inheritance tax has not been paid in full, an executor could find themselves liable to pay it. This happened in the case of Glyne Harris who administered a £1.2 million estate, filing the estate return form and paying some inheritance tax. The remainder was payable on an instalment basis but Mr Harris transferred the majority of the assets to a beneficiary on the basis that the beneficiary would pay the inheritance tax. Unfortunately, the beneficiary reneged on this understanding and moved to Barbados. As Mr Harris was the executor in the estate he, not the beneficiary, was liable to pay the remainder of the £350,000 of inheritance tax.
Other advantages of using a probate solicitor
There are also some situations where a probate solicitor is particularly beneficial, and using their expertise would help tackle pressing issues that could prove to be problematic. This can in include:
- The deceased died without a Will and the estate is complicated to administer;
- The validity of the Will is disputed;
- The deceased had dependents who were not acknowledged in the Will and may wish to make a claim on the estate;
- The estate is bankrupt;
- The estate has complex particulars, such as trust funds;
- The estate includes foreign property or foreign assets;
- The deceased resided outside of the UK;
- The value of the estate is over or near the limit of the Inheritance Tax threshold; and
- The value of the estate continues to receive a regular income.
A probate solicitor can also be valuable when dealing with an estate for which the first of a married couple has died. They can provide practical advice to the surviving spouse or civil partner, there may also be estate planning opportunities which may be available, but must be actioned upon within a specific timeframe. A solicitor can also provide legal advice regarding the advantages of Lasting Powers of Attorney, lifetime gifting or re-evaluating a Will as the surviving partner.
There are other organisations that offer probate and administration services such as banks or online facilities, but they can be more expensive than solicitors and it is not guaranteed that they will have the specialist qualifications and security that a qualified probate solicitor can offer. These other organisations may also be unregulated and uninsured, but by using a Law firm you have the peace of mind that we are regulated, insured, qualified and experienced.
If we are instructed in the administration of the full estate the legal fees would be payable from the estate, so it is not expected of you to front the costs of the service.
When choosing a solicitor, it is worthwhile looking at firms that are members of specialist organisations such as Society of Trust and Estate Practitioners (STEP) and Lifetime Lawyers (previously Solicitors for the Elderly), for which Harpreet Talwar, Solicitor at NEXA Law, is a full accredited member.
Conclusion
There are many positive and compelling reasons as to the benefits of using a probate solicitor including their expertise, professionalism, and neutrality. However, the most persuasive case remains that you are safe in the knowledge that the final wishes of yourself or your loved ones are being carried out respectfully and legitimately.
If you would like to speak to us further about how we can help, please do get in touch.
