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Silbee
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22-01-2017, 07:44 PM
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Re: Probate

My daughter looked it up online a reckoned she could do it when the time comes.
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22-01-2017, 07:53 PM
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Re: Probate

I'm really thick where this thing called probate is concerned . Surely if there is a will made specifying who gets what then why can't the executor just sort it ?

For instance my will was drawn up by a solicitor , my two kids are executors and split everything 50/50 so why should they have to pay to sort it , surely the will says it all .?
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22-01-2017, 08:04 PM
13

Re: Probate

That's what I thought Sue,

But,
Probate is the legal[1] process whereby a will is "proved" in a court and accepted as a valid public document that is the true last testament of the deceased.

The granting of probate is the first step in the legal process of administering the estate of a deceased person, resolving all claims and distributing the deceased person's property under a will. A probate court decides the legal validity of a testator's (deceased person's) will and grants its approval, also known as granting probate, to the executor. The probated will then becomes a legal instrument that may be enforced by the executor in the law courts if necessary. A probate also officially appoints the executor (or personal representative), generally named in the will, as having legal power to dispose of the testator's assets in the manner specified in the testator's will. However, through the probate process, a will may be contested.[2]
From Wiiki
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22-01-2017, 08:36 PM
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Re: Probate

Originally Posted by susan m View Post
I'm really thick where this thing called probate is concerned . Surely if there is a will made specifying who gets what then why can't the executor just sort it ?

For instance my will was drawn up by a solicitor , my two kids are executors and split everything 50/50 so why should they have to pay to sort it , surely the will says it all .?
Money from Banks ,Shares and also Deeds of Property will not be handed over without Probate.

If it was things of little value ,this would not be a problem ,

Probate is an official document which the law up holds ..
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22-01-2017, 09:12 PM
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Re: Probate

Originally Posted by swimfeeders View Post
Hi

Solicitors can be very expensive, but very simple.

Have you asked your daughter what she would prefer?


Yes I agree, this might be the best idea Rehab. She might say she would be quite happy to sort it out, or perhaps she may prefer a solicitor to deal with it. Best to ask her I think.
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22-01-2017, 09:25 PM
16

Re: Probate

Thankyou rehab and Eliza .

In my head I just assumed my two kids could take the will to my bank and also the will as evidence of my death and transfer of house ownership.

Crikey , dying ain't easy



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22-01-2017, 09:47 PM
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Re: Probate

If a house is involved you may need to look at tax needing to be paid, solicitor knows ins and outs of all that. We had capital gains to pay without the solicitor the first we would have known would have been a big bill arriving.
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22-01-2017, 11:46 PM
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Re: Probate

Originally Posted by susan m View Post
Thankyou rehab and Eliza .

In my head I just assumed my two kids could take the will to my bank and also the will as evidence of my death and transfer of house ownership.

Crikey , dying ain't easy



Or cheap
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22-01-2017, 11:47 PM
19

Re: Probate

Originally Posted by Mups View Post
Yes I agree, this might be the best idea Rehab. She might say she would be quite happy to sort it out, or perhaps she may prefer a solicitor to deal with it. Best to ask her I think.
I will take your advice on that and run it by her.
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22-01-2017, 11:50 PM
20

Re: Probate

Rehab
If your will is straight forward ie all going to your daughter it's not hard at all.
When completed you just have to swear that the will is true .
You just get several copies of the Death certificate and send it to the various places .
If your daughter sells the house she will only have to pay capital gains tax on the amount it has gained since the day she inherited it.
She will also have a CGT allowance of 11100.
She will have to pay inheritance tax if your estate is over 325k it is charged at 40% over this amount.
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