Probate
Unravelling the mystery of Probate
Probate is the process to establish ownership of an estate before the tax is paid and the assets distributed. Probate is the responsibility of the executors of a will who often appoint a professional firm, such as Kings Court Trust Corporation, to take on the responsibilities of handling Probate. Probate is still required where there is no will although the process is known as Administration.
The executors have a number of responsibilities, including:
- Ensuring that the wishes of the deceased as expressed in the will are carried out.
- Identifying all the assets and claims against the estate
- Obtaining valuations of the joint and sole assets as at the time of death
- Ensuring that the estate of the deceased is handled efficiently and that the funds and assets in the estate including businesses, are properly managed
- Preparing tax returns for the deceased for Inheritance Tax, Capital Gains Tax, Income Tax and Stamp Duty Land Tax.
- Obtaining tax clearances before distributing the estate
- Settling all the debts of the estate including all taxes - this responsibility can last for 6 years
- Completing and filing the relevant court forms
- Applying for Probate and attending a personal interview at the Probate Court
- Preparing accounts for the beneficiaries and after payment of all claims, distributing the estate
Kings Court can handle all of these responsibilities and can support you with Probate, whether or not we are named in the will as an executor and even where there is no will.
As part of our Probate service, we will:
- Take on all the responsibilities of the executors
- Assume all the potential liabilities from the executors
- Value of all assets
- Apply to the Court for Probate
- Collect in all the assets
- Handle the sale of any properties
- Distribute all the assets
- Pay the Income & Inheritance Tax
- Produce Estate Accounts
Our approach is very different as our Price Guarantee means our fees are fixed and include all the items that are usually charged as extras, including VAT. For your convenience one of our experienced Probate Consultants will visit you and the other executors in your own home to talk through how we can help and once they understand the complexity of the estate, quote you the fixed fully-inclusive fee for the work involved.
To find out how Kings Court can help you call us on 0845 126 0891.
For further information or to arrange a no obligation initial meeting with one of our probate consultants please call the probate team on 0845 126 0891
What our customers say
"You have been exceptionally professional in your dealings with us and most sensitive on every occasion "
Probate Client, Newcastle