NEW HELP FOR FAMILIES IS NOW AT HAND WITH PROBATE ASSIST

Time and again over the past 18 months, as professional providers of probate, we have had requests from families enquiring of us how we can help them even when they decide to do “DIY probate”.  In response, we have now released a new Probate Assist range of services, specifically designed for those who wish to do all or some of the estate work themselves, but at the same time, want the comfort of having a professional in the background to turn to when help is needed.

When someone dies and you find yourself the Executor of the estate, you may at some point consider the case for doing the probate yourself.  It’s certainly true that some estates are more straightforward than others and a decision on what “straightforward” means will typically depend on what is set out in the Will – assuming there is one of course – together with a look at the number and complexity of assets of the deceased (for example, property and bank accounts). 

Probate Assist offers the best of both worlds. It allows you to stay in full control of the estate whilst at the same time you gain the comfort and security of knowing that professional help is at hand when you most need it.  We offer three affordable Probate Assist packages, each one providing the degree of support to deal with the most common situations that we see families face.

Our standard Probate Assist service is ideal for those Executors who have an elementary understanding of the Estate Administration process.  The estate value will be considerably below the IHT threshold and the estate will comprise of several but simple assets, for example, a bank account, a property and a few other savings accounts, ISAs or similar.  In addition to a valid Will with no complications, for example, no setting up of a Trust, the estate will have no requirement to complete R27 Income Tax.

For a total fixed cost of £195 inclusive of VAT, Probate Assist provides you with:

• Telephone assistance with completing the IHT 205 form
• Telephone advice and guidance to help you to check that the Will is valid
• Telephone advice and assistance with completing a PA1 form
• Our unique Probate Assist Guide on the key stages of Estate Administration  that contains “what to do next” information for each stage of the process.

Where more support is envisaged and where the estate is a little more complex, we offer Probate Assist Plus.  This is most appropriate where you are acting as an Executor or Administrator and have a relatively good understanding of the estate Administration process and financial matters.  The estate finances will be relatively simple and IHT will not be due.  The Will may contain a Trust that needs to be set up or special provisions that require professional explanation.  Additionally, there may be no Will (intestacy), but the family structure will be known and established, for example, the identities of beneficiaries and their whereabouts are known.

For a total fixed cost of £395 inclusive of VAT, Probate Assist Plus provides you with:

• Telephone assistance with completing the IHT 205 form
• Telephone guidance and explanation of the Will provisions, including implications and what to do if there is a Trust in the Will
• Telephone advice and assistance with completing a PA1 form
• Asset and liability letter templates for establishing date of death values and encashment transfer
• An Estate Accounts template
• Our unique Probate Assist™ Guide on the key stages of Estate Administration that contains “what to do next” information for each stage of the process.

Finally, full peace of mind is available with Probate Assist Premier.   Typically, this service is for you if you are acting as an Executor or Administrator and have a good understanding of the Estate Administration process and financial matters.  Completion of the IHT 205 form may not be a straightforward task or the estate may have a transferable Nil IHT 400 allowance with no IHT to pay. As before, the deceased’s estate finances will typically be fairly simple and IHT will not be payable. The Will may contain a Trust or special provisions or alternatively there may be no Will and a family tree may be needed to prove entitlement.

For a total fixed cost of £795 inclusive of VAT Probate Assist Premier provides you with:

• Telephone assistance with completing the IHT 205 form or Nil IHT 400 form
• Review of the completed IHT form against supporting documentation to ensure that information has been entered correctly
• Telephone guidance and explanation of the Will provisions, including implications and what to do if there is a Trust in the Will
• Checking that the Will is valid, for example, looking to see if two witnesses have signed the Will, and advising for the need for an Affidavit on the basis of a copy Will
• Advice and assistance on establishing a family tree to prove entitlement where there is no Will (intestacy)
• Provision of PA1 form and assistance with its completion
• An Estate Accounts template
• Telephone advice on steps to take after receipt of the Grant of Probate
• Our unique Probate Assist Guide on the key stages of Estate Administration that contains “what to do next” information for each stage of the process.

If you are thinking of doing the probate yourself, do research fully what’s involved from start to finish. Probate can be a complex and onerous process, requiring a great deal of time and responsibility by Executors. Before you decide, why not talk to Kings Court first using our free Probate Advice Line on 0800 496 9000? We can talk you through the steps and explain the jargon to bring you peace of mind that you are making the right decision for you and your family.  We can help you choose the right service whatever your circumstances. 

Christine Houghton is Sales & Marketing Director, at Kings Court Trust Corporation. You can reach her on 01225 750 274 or at christine.houghton@trustcorporation.com