3 Important Things to Consider while Finding the Right Solicitor for Wills and Probate
The sorrow of losing a loved one is horrible but no one can avoid duties that come along with the death. One of these duties is probate. If you don’t know anything about what to do of it, don’t worry. You’ll just have to find a good wills and probate solicitor. Here are important things to consider.
1. Are You an Executor in the Will?
If you are an executor according to the will, you will have to consider several things about notifying a probate solicitor. First of all, you will have to decide whether you want to act as estate’s executor or not. This is not compulsory; but maybe your loved one discussed with you about the possibility of becoming their executor prior to their death.
It’s essential to remember that if you want to tackle with probate on your own, i.e. without a probate solicitor, you are legally responsible for the legal duties and if you are unable to perform them correctly, there are chances for you of being held legally or financially responsible for any mistakes you may commit.
2. Do You Have to Get Probate?
In certain scenarios, you need not get probate at all. Examples of these are if the estate in question is not having any shares, property, investments or land, or if the estate doesn’t have a specific value, normally set by every bank or financial firm with which your loved one held investments or funds.
Every financial institution has different rules to decide if they need probate and so, you’ll need to do some research to find out if you need probate or not.
3. Do You Need a Wills and Probate Solicitor?
You don’t need one but someone like solicitors for wills and probate in London can save you thousands of pounds in probate fees. Completing probate can be extremely complicated and takes a quite long time. You should be ready to invest anywhere from 70 to 100 hours of work for this task and anticipate to take up to a year. This is obviously a too big commitment to make for several people who work full time and have other responsibilities. Therefore, getting a specialist for this task is usually the best way to tackle with the probate.
When someone passes away in England or Wales, some tasks should be done as fast as possible to help protect their estate and belongings including finding their will, protecting important documents and so on.
In that case, taking help of a solicitor is the best way to save yourself from stress and legal and financial penalties. Consider the above things and make life easier for you.