How Does The Probate Process Work? The probate process can be very complicated and time-consuming. After the loss of a loved one, it is important that you carry out their final wishes. Calling an expert at Final Duties can help you carry out the last will and testament of the deceased. Understanding how probate works can help you through the complicated process of death. The main purpose of probate is to help in managing the estate or assets of a person who has died. Probate court is a particular type of court that deals exclusively with this process. The first… read more →
Probate Market leaders Final Duties tests the market leaders – In a recent mystery shopping exercise, Final Duties invited the probate market leaders to quote for a simple probate estate. Both the CO-OP and Simplify (the chosen provider of Barclays Bank) insisted on meeting face to face as part of their sales process and so appointments lasting about an hour were booked with both. We asked each representative to quote for identical estates with a value of £137,000 made up of one property and two bank accounts. The CO-OP quoted £4631.62 and Simplify £3080.40. A fixed-rate quote for the same… read more →
The Question “Do I need a probate solicitor?” in one that we hear on a regular basis, or we see when browsing conversations in online forums, “Do I need a Probate Solicitor?” The answer is no, there is no law stating that you need to use a solicitor when applying for a Grant of Probate. If someone chooses to take the responsibility of dealing with a whole probate case without legal professionals then that is not a problem, although having some kind of experience within probate probably would be an asset as probate can be very time consuming and complicated.… read more →
An explanation about Probate Property Valuations and what’s involved It is common that when someone passes away that the most valuable asset in their estate is property. Hopefully, they will have written a will which dictates how their property should be managed. If there is no will their property and other assets will be distributed according to the rules of intestacy. When applying for probate the property will need to be valued even if the beneficiaries are not planning on selling it. The property that is subject to probate will be valued based upon the ‘open market value’. This gives… read more →
Mourning and grief are experiences which are almost certain to take place to us sooner or later in life. Coping with Bereavement ordinarily means to lose someone we feel affection for through death. It results in a great longing for the deceased person and a cycle of adjustment which may well take years. All parts of our being may possibly be affected – emotional, physical, spiritual and social – but the overriding feeling is one of intense pain, or grief. Stats from BBC website below It’s estimated that each day 500 women in the UK will become widows. It’s estimated that… read more →
The Cost of dying rises to equal three months worth of the average UK wage. Yet almost half of the population are unprepared. The cost of dying has risen to the equivalent of three months worth of the average pre-tax British salary, according to figures published this week. In the UK today, the cost of dying – which include death-related costs such as funerals, probate, headstones and flowers – have increased to an average of £7,248. That represents a rise of 20% since 2007 and over £400 since last year. However, Sun Life Direct, the insurer which carried out the… read more →
What is Estate planning Nobody wants to spend too much time thinking about death, but the importance of proper estate planning is paramount to the people in your life who you will leave behind. It may sound morbid and slightly daunting, but some simple pre-planning will make your passing a little easier for your family and friends once you are gone. So what is Estate Planning? Estate planning put clearly is arranging your assets so that the people you wish to benefit from your passing do so, and aren’t left with nothing. Your assets can be anything that you own… read more →
Final Duties are aware that the administration of an estate and applying for probate can be a long and stressful process. So we have created a guide to the steps of probate in order to help you break down the process into manageable sections if you were looking to DIY probate. Please be aware that the process differs in Scotland and Northern Ireland therefore please follow the links for more information. Many of the steps of probate will be linked to other blog posts which go into more detail about that subject. We have also linked the relevant HMRC and… read more →
Know what HMRC require when dealing with probate Finding the right Inheritance Tax and probate forms, for example a pa -1 can be a very simple process. The forms you need depend on the complexity of the estate. The HMRC website helps you to find the form that is required. The site gives you information and advice and points you in the right direction to get you started with probate. HMRC Probate. Once you have downloaded and printed all the correct forms we will help you through the next steps giving you a low cost fixed fee probate quote and… read more →
Are you in London or surrounding areas and require Probate services? Final Duties can offer a value-for-money probate service through regulated specialist firms and assist with the next steps with helpful advice and an empathetic approach. We provide quick and simple quotes. Unlike many banks and other probate providers, we do not even have to arrange for a face-to-face appointment. The London Probate office is located at the First Avenue House at 42-49 High Holborn. The First Avenue House has 19 Family Division courts and holds a complete set of calendars of wills and administrations from 1858. The First Avenue… read more →
Living abroad is becoming a popular option among British retirees. With the cost of living in the UK increasing, the opportunity to exchange rainy days for sea and sand is an attractive one. Making your money stretch further with lower property prices, cheap goods and all-year sunshine, it’s easy to see why many Brits are making the move. However, with the excitement of a more leisurely lifestyle, it’s easy to forget things like updating your will or writing a will to include dealing with foreign assets. Property or assets are subject to the laws of the country in which they… read more →