hate having to delve into this now, but I have tofind out the best way forward for me to deal with this, as I am very limited with ££-- do not want to have to move from home suddenly as have a whole shed load to clear and am unwell.
So… can a very simple estate be managed by the PERSON ie do the PROBATE themselves? I see that Solicitors can charge 2- 5 % of the estate value, why the heck should I lose anything from my estate if I could do it all myself?
so my relatives estate is simple they have a home - nothing else except below 4K in one bank acc…that is it. Has anyone done the process themselves?
I am going to try and get as much info prepared I found a good site - that tells you the sort of info you have to have to hand
I know one must deal with the Government ( grant of probate? ) and I have a link that i am going to look up to see what else i would need to do, I am suddenly being pushed on this as once again my relative has taken ill and is frail and to be honest any time now she gets ill, could be the final time
so I am looking to do Probate myself if that is possible – I don’t want to be fleeced as I will have to pay up front for everything cannot sell home just like that –
thanks anne
Hi Ms Anne
The very simple answer is YES you CAN deal with Probate yourself.
I did it for my Mum some years ago and then for my Father-in-Law about three years back.
You will need to prepare a list of Assets. If there is a property involved you can get a local Estate Agent to give you a valuation (they will all do this Free of Charge in the hope of being asked to handle a sale but you have NO OBLIGATION to any of them). This valuation proves you have not deliberately tried to under value an asset.
On top of that, list bank accounts and investments etc. If there is likely to be anything of value in the property (John Constable original painting?) you should have a valuation, but its not normally necessary to do that for most things in a home.
Once you have that the process is remarkably easy. I did the online Probate for F-i-L in about an hour, including asking my hubby to provide me with bank accounts/National Savings etc (which he had to look up!).
Go to the Government website - www.gov.uk and search “Probate” that gives you access to guidance forms and the actual form you need to complete. The fee is currently £273 if the Estate is valued at more than £5000. A Solicitor will charge you their fees on TOP of that.
The whole process is quite straight forward. If there is a Will the Executor should complete the form, if not the next person down a list can do it.
I hope this helps.
My brother dealt with my Dad’s Estate and made a total mess by asking a Solicitor to do it. He charged well over £1,000 plus fees and there was just one bank account and one N&SI investment. To say I was angry is an understatement. I would have done it for nothing but he said it ‘had to be done properly’. smile sweetly and walk away
You are doing well to be prepared and I hope all goes OK for you.
Thank you So Much Chris
I am so stressed with it all --even though mum is now unwell, I am having to think what ifs, and its best to be prepared.
Working out the INHERITANCE TAX NIL RATE BAND is very confusing to me, basically I need a valuation below 500k our home does need attention and I am hoping to get a valuation of less than 550k it sounds a lot, but we have been here a long time when properties were way cheaper, I just am not well enough to be forced to move out mum has one bank account - and the house and that is it!! Ideally I do not want to pay solicitors fees… I hope there is time to do all of this and they don’t pressure you ? well done I am just trying to be more ready its a truly horrible time I have not one person to turn too. this forum is a huge help thanks
anne
Anne
I assume the house is just in Mum’s name - even though you are living there.
Have you contributed to the upkeep/maintenance/running of the house as you can claim that you have an interest in it which would help you. If it is not too late you could get part of it signed over to you in consideration of the amount you paid towards it over the years. I think you can go back seven years and it’s something like £7,000 per year which could be assigned to you. There you would need professional advice though.
It’s a nightmare isn’t it? At least you are aware of the situation and trying to do something about it now. It would be worse when the inevitable happens and you suddenly found yourself forced into it with no warning.
Best of luck.
Thank you Chris I am ok for now re I live here and have done for a very long time. The home is left to me, and i note what you suggest.
I have to find out if I need to apply for probate as her estate is very simple, but you are right I need to find out as much as I can now so that I am not trying to find out when it gets to the point of her passing.
thank you again
Anne