Death and taxes are inevitable, as the saying goes. However, despite this, it’s surprising how many people give little thought to drawing up a Will and the ensuing disruption when they die is very hard for a family that is already in mourning. Many people do die intestate and this means prolonged probate and higher inheritance tax. Making a Will is neither a particularly lengthy or expensive procedure and it’s something that everyone should ensure that they do – particularly if you have accumulated a few assets, but most certainly if you have any dependants.
What does probate mean?
In some situations you may find that a friend or family member dies and you discover that you have been named as the executor. This will be difficult for you if you have no experience in the matter, as it now falls to you to ensure that the requests of the deceased are carried out. In this situation, it’s a good idea to consult an attorney who can advise you. The first thing you need to do as an executor is to obtain probate – this will be issued to you as a legal document called a Grant of Probate.
Many Wills in Caversham, and elsewhere in the UK, name family members as executors. Currently, disputes about probate are on the rise, but it’s not clear whether there is a direct link to the fact that many executors are not professional, but it’s likely to be the case. If an estate if complex, it’s really worth naming a professional executor because there may be a lot of work involved. Sometimes the Will has set up a trust and this needs special attention. Occasionally the beneficiaries need to be found and tracing them can be a lengthy procedure. Probating a Will often isn’t as simple as sitting around a table and dividing up the furniture. You can visit here to get more information.
Getting professional assistance with Wills
Apart from the grief of bereavement, everyone knows of stories where relationships have been strained when property needs to be divided. There is little than can cause a rift in a family more than an argument as to who gets the family jewels! The more specific you can be in your Will, the less likely it is that there will be a dispute. Professional solicitors also know how to obtain probate rapidly and what forms need to be completed. You have the knowledge that you can turn to a professional if any problems arise and that this person will be impartial when assets need to be distributed or if the terms of the Will are contested.
Given the problems that can occur when an individual dies intestate, it is always advisable to inquire about wills in Caversham as soon as possible. Harrison’s Solicitors will be able to offer you both advice and expertise.