Estate Administration in Nottingham

All executors of a will must apply for probate.  It is very important to have basic knowledge of the procedures involved with probate in Nottingham, if you are looking to obtain a grant of probate to deal with a person's estate quickly, and without complication.  Included in this article are some common issues that may arise when obtaining a grant of probate in Nottingham.

All executors must apply for probate

The deceased, if they have left a will, will have named executors.  Normally, there are around two executors, but there could well be more.  All of the named executors must jointly apply for probate, so that the deceased's estate is able to be administered.  A deed of renunciation should be signed and presented to the Probate Registry Office by any executors that do not wish to act, for any reason,e.g. due to ill health.  If there aren't any executors left, the court will appoint one otherwise, the executors that remain must continue to act.

Main steps when applying for probate in Nottingham

- Acquire the death certificate, after reporting the death

- Find a probate specialist (which can be done immediately, if preferred)

- Notify all banks, credit card companies, utility companies, mortgage lender etc., of the death

- Assemble documents eg, list of liabilities and assets, identification documents, to take to the initial appointment with the probate specialist

- Inform the solicitor of the companies that have not been notified of the death, so that they can be contacted

- Review H M Revenue and Customs tax return (and supplementary forms, if applicable) with the solicitor and relevant oath for executors 

- Sign the above oath, stock transfer forms, tax forms, bank closures etc... along with any other executors (note: the oath must be signed before an independent solicitor, not the one you have instructed)

Your probate specialist will then submit the application for grant of probate in Nottingham.   The probate specialist you instruct will then arrange for the assets to be transferred or released and the estate to be finalised, once probate has been gained.  

Finding a probate specialist in Nottingham to assist with applying for probate

As it involves several different steps, the process of probate can be carried out by either submitting a personal application or with the help of a probate specialist.   There are a number of solicitors in Nottingham who are able to assist you with applying for probate.   The Law Society also offers a list of numerous solicitors who practise private client work and wills and probate.  

DIY Probate

There is another way of applying for probate, and this is applying for it personally.  This should be done directly at the Nottingham Probate Registry Office, which is open to the public Monday - Friday.   In order to apply for probate in Nottingham, you will need to make an appointment with them and they will continue to conduct any relevant interviews.  

Paying tax on the estate

Any amount of Inheritance Tax (IHT) due on the estate must be paid within six months of the date of the deceased.   However, if the Inheritance Tax is not paid on time interest will be payable.  The grant of probate will not be issued until the IHT bill is settled.   Where land or property, such as a flat or house, is involved, the IHT can be paid annually in instalments.  If the tax position needs to be re-examined, eg, an asset value was incorrectly stated, then H M Revenue and Customs need to be immediately informed of this.  

Probate specialists fees for probate in Nottingham

Fees for probate will vary, depending on the probate specialist in Nottingham that you choose.   Some probate specialists charge an hourly rate, whereas some may charge a percentage of the value of the estate.   People applying for probate should be aware that if you get charged per hour, it would leave you unclear as to the total bill.  If the estate is complicated and additional work is involved for example, where assets are abroad, you will most likely get charged for this extra work.