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Probate

Probate

Stewarts Accountants Limited is licensed by the Institute of Chartered Accountants in England and Wales to carry out the reserved legal service of probate in England and Wales.

Probate is the process by which individuals can obtain the legal right to deal with a deceased’s property, money and possessions (their ‘estate’).

An individual can apply themselves, or appoint a solicitor or licensed Chartered Accountant.

We offer a free first discussion in relation to any probate or inheritance tax matter and at the end of that discussion we will be able to give you a clear statement of our fees. 

Process

The work that is performed will differ depending on whether there is a will in place or not. However, the basic process for all grants of probate is the same.

Is there a will?

This normally states who should apply for probate. If there is no will the next of kin can apply

Apply for Grant of Representation

This gives you legal to right to administer the estate. This can be a ‘grant of probate’ (executor), ‘letters of administration’ or ‘letters of administration with a will’ (personal representative)

Pay Inheritance Tax

This must be done 6 months after the end of the month of death

Collect the assets

Gather all the relevant information of all assets within the estate, eg property, bank accounts

Pay any debts

Settle all amounts owing, eg unpaid credit cards, utility bills

Distribute the estate

Give the property and assets to the people entitled to it (the ‘beneficiaries’)

As Chartered Accountants we have extensive experience of accounts, taxation and the administration of an estate following someone's death. Being specialist probate accountants we have the expertise to tie up all probate matters quickly and efficiently and will advise on ways to minimise the estate's liability to taxes as much as legally possible.

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