When do you need to apply for probate and how can a probate solicitors in portsmouth help
1. When do you need to apply for
probate and how can a probate
solicitors in Portsmouth help?
Andrew and Andrew Solicitors Limited
2. You may have heard of probate. When someone loses a loved one they often will apply for probate and
you may find yourself in the same position. But what exactly is probate and when is it required?
What is probate?
When you lose a loved one it may be that probate is required, but what exactly is it and how can probate
solicitors in Portsmouth help you through the process? Probate is a legal process and it involves obtaining
documents that you can then take to the bank, building society or other organizations holding the lost
loved one’s assets, and collect these. The estate can then be distributed to any beneficiaries. Although
this can be an emotional time for all involved, probate solicitors in Portsmouth will be able to help you
navigate the potentially complicated steps as easy as possible so that you can focus on remembering the
one you have lost.
Is probate always required?
Once you have contacted your probate solicitors in Portsmouth they will be able to advise if probate is
required. Some factors that may impact this include the amount the assets are valued at. If they amount
to less then ten thousand pounds, for example, there is likely to be no need for probate, however, all
banks differ in their probate thresholds.
If for any reason you are unsure whether you will need to apply for probate then contact your probate
solicitors in Portsmouth, as these experts in the field will be able to talk you through the likely scenarios
that would or would not require probate.
3. In around half the cases in the UK probate is required. The average value of this is around the £50,000
mark.
Are the assets jointly owned?
This is of importance, and again your probate solicitors in Portsmouth can really help you nail down the
details of this, because if the assets are jointly owned then they are likely to go straight to the
surviving party with no need for probate. While there may be some variations on this it is worth
consulting with probate solicitors in Portsmouth to clarify if this will apply to you.
How to progress with probate
Contact your probate solicitors in Portsmouth as soon as possible. It is an unavoidable fact that some
government processes can take a long time and in order for you to receive your grant as soon as
possible then you need to act quickly. This is obviously going to be a sensitive time but acting quickly
with the help of probate solicitors will mean that you can get the wheels in motion while you take time
to reflect on the life of your loved one.
While the procedures vary from case to case your solicitors will guide you through every step and can
be as involved as you need. This can include contacting all third parties on your behalf, valuing and
documenting all the estate and assets, communicating with the banks and paying off outstanding
debts, and even going right through to distributing the assets between the noted beneficiaries. Clearly
expert guidance from probate solicitors in Portsmouth will be invaluable.
