It’s always hard to cope with the death of a family member. You need time to recover after a loss and get over it. At the same time, you will face a lot of challenges especially if you have been named a beneficiary in your relative’s will. Inheritance can leave you with a large tax […]
Valuation is an assessment of your property’s value. There are different types of valuations used for a wide variety of purposes. A Red Book valuation is just one of them. Solicitors, accountants, bankers and agents are acquainted with this type of valuation. Let’s dig deeper to find out what Red Book valuations mean and why […]
After the death of a loved one, going through the probate process is necessary for most cases. For an executor to be able to administer the property of the departed accordingly, they’ll need to acquire a grant of probate or a letter of administration where applicable. Although the probate process might be stressful, going through […]
What does it mean when probate is granted? Once probate is complete, this means that you or the solicitor have the legal right to administer the deceased’s estate(property, money and possessions). If the person left a will, you’ll get a grant of probate, if there was no will left then a letter of administration is […]
Probate process and the estate administration process takes between 9-12 weeks. In situations where the deceased had small and uncomplicated property, probate timeline is much shorter. What is a probate? This is the legal right to oversee the affairs of the deceased person before the estate is distributed according to the will. At times, probate […]
When a family member dies, you, as the inheritor of their property, will have a large job on your hands. As well as informing friends and relatives and making funeral arrangements, you will need to have the deceased’s property valued and cleared. This is a difficult task at a difficult time, and it is understandable […]
Chattels and house contents rarely make up a significant proportion of the value of an estate. However, they will often pose the greatest practical issues for an executor and can be subject to competing claims. For this reason, a prudent executor will want a clearly itemised and properly valued inventory.