Understanding the Probate Service

“Probate”is the word commonly used for the administration of a deceased’s Estate. It actually means the name of the legal document that is produced by the High Court if the deceased left a valid Will with surviving Executors.

There are several ‘Grants’ that can be issued, but the most popular are the Grant of Probate and the Grant of Letters of Administration, for when someone dies “intestate” (without a Will).

Role of Administrator or Executor

Simply, it is the responsibility of the Executor or Administrator to deal with all aspects of the administration of the deceased’s Estate. In practice, many Executors and Administrators ask a solicitor to do this for them, due to the sizeable amount of paperwork that is generated.

Solicitors can be appointed as Executors and this is usual where you wish to ensure that a particular firm carries out the administration of the Estate for you, especially where there is a house involved.

The solicitor holding the Will should be approached as soon as possible after death in order that they can make the necessary arrangements for the administration of the Estate. If there is a Will and it is held by a solicitor you must inform that solicitor of the death as soon as possible.

A list of assets and liabilities will be compiled. If necessary, assets will be professionally valued. Once the values of the assets and liabilities have been obtained, the necessary Inland Revenue forms will be completed, a formal Oath will be sworn and the application made for the appropriate Grant .

The assets of an Estate cannot be encashed, or a house sold, until the Grant has been issued. Even when the entire Estate has been liquidated, it is not always a good idea to distribute it amongst the beneficiaries. There are two specific deadlines that have to be considered – one for creditors of the estate and another for potential beneficiaries to make a claim. 

Also, an Executor or Administrator is not legally obliged to distribute an Estate until one year has elapsed from the date of death. Most non-professional Executives do not know this, and will make payments from an Estate without being aware of the personal liability they may have. Administrating an Estate can be a complex and time-consuming task. 

Asking a solicitor to act on your behalf is not an admission of defeat – it is extremely sensible! A good solicitor will keep you involved in the process, and provide you with regular updates. You should always use a solicitor who is experienced in dealing with Estates, preferably one who is a member of the Society of Trusts and Estates Practitioners (STEP), a prestigious organisation for those who are specialists in the areas of Wills, Trusts and Estates.

Probate Advice

Funeral Planner have linked up with TWP LLP and offer probare services.

www.FuneralPlanner.co

It’s never to soon to make plans.......

The time for funeral planning is something we all ,like to avoid even though we know it is going to happen to everyone

We understand how hard and painful it can be to consider a time when you are no longer around. We are aware of the genuine problems created when no planning is taken causing family stress and financial worries.

The aim of Funeral Planner is to provide valuable information allowing you to make decisions about planning your funeral, organising your estate and

supporting the post funeral arrangements for your family.

We offer a comprehensive list of services which allow people to plan a bespoke funeral service which can vary from a traditional funeral to a more modern event including coach and horses or motorbike hearses.

We can plan the type of funeral and service you want, discuss the benefits of a pre-paid funeral plan, explain why it is necessary to have a Will and look at other legal services, offer financial advice from our independent financial advisor, make a choice about flowers or donations, define your own personal funeral poetry and music, plan a reception to celebrate your life and lots more.

Our professional network include probate specialists, independent financial advisors, funeral directors and bereavement counsellors.

We also offer practical post funeral services including house clearance, refurbishment and gardening.

All your wishes will be listed and available in a treasured journal and be available for your family to follow, preventing family arguments

and any confusion.

Funeral Planning Solutions are approved members of the Golden Charter Trust and can arrange pre-paid funeral plans to secure the funeral at today's prices

http://www.funeralplans.co/

Steps to Funeral Planning

The sensitive subject of planning for your funeral is an area most people want to avoid, we offer the much needed help and support to make the process easier.

There are many reasons why you decide to plan your funeral and the most important one is to make sure the family knows your every wish for the funeral and how your life can be celebrated.

It will allow you to enjoy the rest of your life having the peace of mind that everything is in order.

All your wishes will be listed and available in a treasured journal, all your personal wishes will be available for your family to follow and it will prevent family arguments and they follow everything you want.

In certain instances where you have no family the journal will be passed to your friends and carers to make sure all the wishes are followed.

The journal once produced will cover all the essential areas including practical instructions to make sure your full estate is administered by the executors in the best and most sensible way and reducing any areas of indecision.

This document will sit next to your Will with the Solicitor and be available to your family and friends on your passing.

During the meeting we can discuss your thoughts and decide what you may want to happen. You can plan the type of funeral, discuss the benefits of a pre-paid funeral plan, explain why it is necessary to have a Will and look at other legal services, offer financial advice from our independent financial advisor, make a choice about flowers or donations, define your own personal funeral service, plan a receptions to celebrate your life and lots more.

The meeting will allow you to list down lots of answers to a number of key questions which you may not have been considered essential but will support your plans and wishes and help your family and friends when you pass on.

Sample Questions:

What type of funeral service, Religious or Humanist?

Pre Funeral gathering?

Poetry, Quotes, Readings (Be conscious that a eulogy will be read, you may want to choose the people in advance and the content)?

Music: Live or Recorded (This is linked to the funeral theme) Do you want a choir, instruments or a singer (all or part)?

The location of the Will (home, lawyer, accountant?) Let someone know where it is stored

Who are the executors? (Their names, addresses, telephone/mobile number, email addresses)

Do you have a Bank Vault?

The combination of your House Safe?

Where is your outside Storage unit?

What is the name of your Pension provider?

Insurance documents are filed where? There are many questions we ask in order to have a complete understanding of your wishes and we list all the practical details to support the estate management.

We will produce a comprehensive document and arrange the secure storage of the journal with your solicitor or family. We can also securely store in our offices, if required. The Funeral Planning Journal is a document which will serve as your Letter of Wishes, and offer your family and executors complete clarity at a time when they will be stressed and needing assistance.

Always allow time to the finish all the answers to the important questions and re-visit if more time is required.

In our experience we know this will help your loved ones find the answers to all those important questions as they make arrangements.

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Hugh O'Brien http://www.funeralplanner.co/ EzineArticles.com/?expert=Hugh_O'Brien

Meet The Man With A Plan For Your Loved Ones' Funeral

It's not a day many people want to think about let alone plan for, unless you are Hugh O’Brien, the north west’s first funeral planner.

Hugh opened Funeral Planning Solutions, which he runs from his home on Stanley Grove, Heaton Moor, after being made redundant from his job as a logistics manager.

The 50-year-old hit upon the idea after his aunt died and her service did not run smoothly as it had been arranged at the last minute.

Now he can arrange anything from the church music and wake buffet to organising for the deceased’s coffin to arrive at the church on a motorbike sidecar.

Mr O’Brien, a father of two, said: "I am like a wedding planner but for funerals.

"And this is even more important.

"Your wedding is just one day but overall the impact of a funeral is greater.

"Around 600,000 people a year die in this country but 70 per cent don’t have a will or make the necessary arrangements.

"People just don’t like thinking about the fact that they’re not going to be around forever.

"I leave it up to the individual, the service can be as traditional or extreme as people want.

"Whatever people request I can make happen."

As part of his service, Mr O’Brien offers will-making, the organisation of the whole funeral day as well as the clearance and disposal of the deceased person’s possessions if required.

He works alongside his wife Lesley, 48, and the business has now been running a month.

Mr O’Brien said: "Obviously there are other funeral directors or people who make wills but I am the only person who does the whole lot in the north west.

"When you tell people what you do the reaction varies from ‘that’s a bit ghoulish’ to that’s a good idea.

"Lots of people has a story of going to a funeral that went wrong. That’s what I help avoid."


www.FuneralPlanner.co


menmedia.co.uk/stockportexpress/news/s/1408984_meet_the_man_with_a_plan__for_your_loved_ones_funerals

Funeral Planning Journal

The sensitive subject of planning for your funeral is an area most people want to avoid, we offer the much needed help and support to make the process easier.

There are many reasons why you decide to plan your funeral  and the most important one is to make sure the family knows your every wish for the funeral and how your life can be celebrated.

It will allow you to enjoy the rest of your life having the peace of mind that everything is in order.

All your wishes will be listed and available in a treasured journal, all your personal wishes will be available for your family to follow and it will prevent family arguments and  they follow everything you want.

In certain instances where you have no family the journal will be passed to your friends and carers to make sure all the wishes are followed.

The journal we produce will cover all the essential areas including practical instructions to make sure your full estate is administered by the executors in the best and most sensible way and reducing any areas of indecision.

This document will sit next to your Will with the Solicitor and be available to your family and friends on your passing.

During our meeting we can discuss your thoughts and decide what you may want to happen. We can plan the type of funeral, discuss the benefits of a pre-paid funeral plan, explain why it is necessary to have a Will and look at other legal services, offer financial advice from our independent financial advisor, make a choice about flowers or donations, define your own personal funeral service, plan a receptions to celebrate your life and lots more.

The meeting will allow you to list down lots of answers to a number of key questions which you may not have been considered essential but will support your plans and wishes and help your family and friends when you pass on.

          Sample Questions:

•     What type of funeral service, Religious or Humanist?
•   Pre Funeral gathering?
•   Poetry, Quotes, Readings (Be conscious that a eulogy will be read, you may want to choose the people in advance and the content)?
•   Music: Live or Recorded (This is linked to the funeral theme) Do you want a choir, instruments or a singer (all or part)?
•   The location of the Will (home, lawyer, accountant?) Let someone know where it is stored
•   Who are the executors? (Their names, addresses, telephone/mobile number, email addresses)
•   Do you have a Bank Vault?
•   The combination of your House Safe?
•   Where is your outside Storage unit?
•   What is the name of your Pension provider?
•   Insurance documents are filed where?

There are many questions we ask in order to have a complete understanding of your wishes and we list all the practical details to support the estate management. We will produce a comprehensive  document and arrange the secure storage of the journal with your solicitor or family. We can also securely store in our offices, if required.

The Funeral Planning Journal is a document which will serve as your Letter of Wishes, and offer your family and executors complete clarity at a time when they will be stressed and needing assistance.

We will sit with you and give you time to the finish all the answers to the important questions and will arrange further visits if more time is required.

In our experience we know this will help your loved ones find the answers to all those important questions as they make arrangements.



You Can't Take It With You: Episode 5

How do you decide to leave your business to the family?

Hans and Anna have six children, five sons live in the UK and one daughter lives in New Zealand, Their family Garden Centre business has been recently valued at £4 Million and is based in two locations. Three of the sons are currently involved in the business whilst the other two run their own operations.

Nev and Alan have two children, a son and a daughter. Their family Land Management business has a recent price tag of £3 Million. Their son works in the business and their daughter who lives 100 miles away is a school teacher.

Hans and Anna are both getting on and have reached their 80's and a decision is rather urgent but they just can't decide. The indecision is now hurting the business as it is now drifting and certain sections are losing money. The three sons who work in the business offer no true leadership skills and have offered loyalty, hard work but little else.

Gerry sets out to meet the rest of the children in the UK.

Nev and Alan's children have very clear opinions on what to do with their inheritance. Damian wants the business to go into a trust which will allow him to grow it for future generations. The daugher Vashti wants her share and feels placing the estate into a trust shows a last of respect to her.

Nev and Alan want complete fairness but also don't want to put the business at risk so they feel placing the business in a trust is the best solution.

Gerry arranges for the meeting with Sue Medder to offer advice to both couples.

Hans and Anna agree that the estate should be placed in equal shares  for the children but cannot decide who will be Managing Director amongst the sons. They are sent away to make a decision about the MD role. Gerry points out that the decision of MD should be immediate to secure the current business status and allow the business to flourish.

Nev and Alan have their meeting and still feel a trust is the best solution though this is clearly unfair on their daughter.

Gerry arranges for the family debates over dinner with Hans and Anna sitting with their five sons to discuss options. The boys generally disagree until Antony, a middle son, shows his hand and says he is happy to move from his existing business and take control, Antony throughout the show has demonstrated the most business sense and he is also the diplomat.His offers does go down well with his other siblings and parents.

During the Nev and Alan family debate Damian says very little as I suspect he feels he is in the box seat. However Vashti makes it very clear that the decision to put the estate in a Trust is unfair and it certainly shows how controlling their parents will remain even after their death. She challenges her Mother about having a similar role to her in the family business which certainly struct a nerve and challenged her current position in respect of the Will. Alan said very little other than it should be 50/50 but it is clear that the parents were closer to Damian. Vashti tells them she does not want an inheritance she cannot spend. This clearly affects her Mum, Nev.

The final meetings arec arranged with Sue Medder and Gerry.

Hans and Anna have acted quickly and installed Antony as MD and the business is now in better hands. They split the business into six equal shares and state that Antony will remain as MD after they die.

Nev and Alan arrive and Nev does the talking and initially says she wants it in a Trust but with no rules attached. This is discussed but Sue highlights that no clarity will exist and it would end in dispute. Gerry adds that this would be a very uncomfortable position for both children.

Nev suddenly changes her mind and decides it should be a direct split 50/50 and no Trust. Alan nods in agreement.

Before Nev changes her mind again the Wills are produced and they both sign.

My gut feeling says this is not the final outcome and these Wills may change again one day.

This episode wants again highlights estate issues and how difficult the decisions can be without communication.

How many other business owners are in the same position and don't make a decision leaving behind a real mess.

Next week's final episode will highlight issues within families when certain siblings are disabled or need extra support and attention.

Tune into BBC2 on Friday for the last episode.

You can't take it with you, but you can ensure who has it

An increasing number of people are needing more complicated Wills, in line with those currently being featured in the BBC 2 programme 'Can’t Take it With You', says Francis Durrant of Barr Ellison Solicitors in Cambridge, making it all the more worrying that 70% of people die without making a Will. 

 

“People wanting to leave money to charity or to leave uneven amounts to different relatives and people who are delaying writing a Will because they undecided how to divide their estate are some of the issues featured in the programme and we ourselves are seeing an increasing number where the Will is not straight forward.

Whatever people have to leave it’s important that they write a Will to ensure their estate is left with the people they want to leave it to and they don’t pay any unnecessary tax.”

Reasons why people are increasingly having more complicated Wills include the increase in couples cohabiting rather than marrying, more complicated trust provisions and more people having second marriages. “It is particularly important for unmarried couples to make Wills because they do not have the protections you automatically receive as a married couple,” says Francis. “Also trust provisions can be put in place that can actually end up saving tax and second or subsequent marriages obviously make Wills a lot more complicated.

People are also concerned about the possible remarriage of a survivor and how that would affect what they leave to loved ones. And even if people believe they have very straight forward requirements, with people living much longer they need to think about protecting funds against the increasing cost of long term care.”

Francis believes that it is often the fact that a Will is likely to be complicated that puts people off taking the plunge: “If people are worried about who should receive what or how they should go about it they should remember that any difficult decisions they have to make are likely to be far easier than leaving family with the stress of them dying intestate.”

 

It’s also important, he says, to remember to keep a Will updated to take into account any changes in beneficiaries’ needs and a person’s financial and personal circumstances. 

http://www.funeralplans.co/