Our Bristol probate solicitors always encourage their clients to write a Will, as dying without leaving a valid document can mean a lot of unnecessary hard work for those you leave behind.
So why make a Will? When you pass away the Will;
Gives your property, money, investments and belongings (your estate) to the people you wish to benefit
Appoints as Executors the persons you feel are the best suited to manage your Estate on your behalf
Appoints Guardians for any of your children under eighteen
Makes sure any inheritance tax, which sadly has to be paid, is kept to a minimum
Gives powers to your Executors to act on your behalf
Avoids disputes between your relatives as to who should receive your estate
If no Will is left, the rules of intestacy apply. This means if you are married with children, your spouse will only receive a limited sum from your Estate plus your personal possessions. What remains is divided, half to your children and half in trust. It's complicated. At such a time of sadness and loss, a headache such as this is the last thing your loved ones need.
Administrating an Estate is complex, and is even more difficult when a loved one is involved. We can relieve the executors of this pressure by dealing with the administration on behalf of the named executors or by acting as professional executors.
We will establish the value of any assets, liabilities, and inheritance tax which may be payable. We then prepare an account for submission to HMRC. This is complex and the consequences of completing the form incorrectly can be costly.
Next we proceed with an application to the Court for a grant of representation. Either a grant of probate where the deceased has left a Will or where no Will has been made, a grant of letters of administration.
Having obtained the grant we collect in the various assets and pay from those monies any liabilities. A comprehensive set of Estate accounts is then prepared and the net Estate distributed to the beneficiaries in accordance with the terms of the Will. Or if no Will has been made, according to the intestacy rules.
Our specialists can also answer any questions relating to inheritance tax, and assist with Power of Attorney. To find out how our Bristol probate solicitors can help, please either call us using the number below, or complete the form to the right.
Tel: 0845 603 0708