Handling wills and trusts can be complex, especially when there are complications that need to be sorted out. If you are unfamiliar with this process or simply want a little extra assurance, you may consider hiring a probate solicitor to assist you with a will or help you sort out any issues. While in some cases, it is entirely possible to handle probate yourself, this can be difficult when simultaneously dealing with the emotional stress of a lost loved one.
If nothing else, probate solicitors can guide you through the process so that neither you nor your family will have to undergo any unnecessary struggles. They can reduce time and effort spent on the will, take care of most of the legal responsibilities, help negotiate with disagreeing family members, and handle complex estates.
When to Hire a Probate Solicitor
There are a number of reasons to hire a probate solicitor, and these reasons may vary depending on your situation. If you are looking for a probate solicitor in London, consider your situation, and decide whether or not it’s going to be necessary.
In general, there are three situations where you would want to call a solicitor, and these are when contracts are involved, conflicts are arising, or you have to go to court. Specifically, however, the following situations would be good reasons to get in touch with a solicitor.
- Unclear terms in the will
- Estate exceeds inheritance tax threshold
- When you question the validity
- When no will exists
- An insolvent estate
- There is money or property in a trust
- There is land or property abroad
Whenever something does not make sense or seems to complicate things, you may want to get in touch with a solicitor as soon as possible. If you are unsure but attempt to move forward anyway, you may experience a number of issues.
Steps in Probate Process
There are a handful of steps involved with the probate process, many of which can be complex. You have to notify certain organisations of the death, locate all assets, calculate and pay inheritance tax, identify and contact beneficiaries, close down bank accounts, and prepare estate accounts, among other things.
All of this can be overwhelming without professional assistance, and professionals not only understand the process, but they have also gone through it on numerous occasions.
Solicitors for Trusts
Trusts are different from wills in that they take effect right now, whereas wills take effect only after the death. Solicitors that work with wills can assist with trusts as well, and they can draft trusts based on your unique needs. Most importantly, they can help you get the trusts right the first time so that complications in the future are extremely minimal.
Whether it is trusts or wills, you can find solicitors that are experts and are willing to guide you through the entire process until everything is sorted out. With their assistance, you can avoid any unnecessary stress and resolve any issues as quickly as possible.