Probate is the process of collating all of the assets of someone who has recently passed away and making sure that they are distributed according to that person’s will (assuming there is one), as well as making sure any debts are settled.
It can be a complicated and difficult process, and is one that is made all the more stressful given that you are usually dealing with the emotional effects of losing a loved one at the same time as trying to understand their financial situation.
An article for the Independent recently discussed how you can handle probate. It cited research from the Office of Tax Simplification (OTS), which found that more than one-third of people who didn’t seek professional assistance with probate spent more than 50 hours on administration.
The report from the OTS also described managing other things, such as inheritance tax as “a huge burden”.
Inheritance tax has long been criticised for its complex nature, as demonstrated by the fact that last year around 280,000 inheritance tax forms were filed for people who had died, but fewer than 25,000 estates were eligible to pay the tax.
Spending money on a solicitor might seem difficult at a time when you will have other costs to consider as well, but given the time and stress often involved with probate, it can be the best way to go to make the process less onerous.
Find probate solicitors in Epsom to help you and it’s likely to feel a lot less stressful than if you go it alone.
Because many people have not had to deal with this before, you may need to do some research into probate before you start. We recently provided an overview of the process, which you may find helpful.