Time to Say Goodbye: Probate and Timescales
Probate and Timescales
When a loved one passes away there can seem to be no end to the things to organise from the funeral to house clearance and dealing with the financial affairs. Combined with the experience of grief and supporting those around you this is a difficult time.
Some people find that getting straight on with the administrative work is a useful point of focus at this time but for others it is all too much too soon.
At Wheelers Solicitors we see families at all stages of the process including within days of someone passing away to many months afterwards. For those families who are only very recently bereaved we always advise them that dealing with the funeral is their first priority and that most administrative aspects of the Estate can be dealt with in time when they are ready to do so.
In terms of the actual timescales if Inheritance Tax will be payable then the application for the Grant of Probate must be made within six months of the date of death or there will be financial penalties and interest to pay to HMRC.
In terms of completing the administration and paying gifts to the beneficiaries these should be completed in a timely fashion and there is a notional “Executor’s year” which means the aim to complete the administration should be within a year, although more complex Estates can take even longer.
Wheelers Solicitors in Newport, Isle of Wight, offer free consultations for all aspects of Estate Administration. Please call us on (01983) 533938 to arrange an appointment with our Probate Practitioner Lewis Wheeler or send us a message through our website.