A Will is a written document that sets out your requests for the distribution of your estate when you die. It looks after your family and it is your opportunity to make sure things go smoothly on your death.
There are strict legal formalities to be complied with in making a Will. If these are not adhered to then this creates many difficulties on your death and the possibility that the paper that you signed will not be recognized as your Will.
When a person dies, they often leave behind property, assets and debts that need to be handled and finalised. This is often described as a deceased person’s ‘estate’. Where a legally binding will exists, the estate will usually be finalised by the executor named in the will. If there is no valid will then the deceased’s closest next of kin will typically be responsible for finalising the estate and may be appointed as administrator of the estate.
The executor or administrator must make sure any debts are paid and that any residual assets are distributed according to the deceased’s wishes (where there is a will) or the laws of intestacy (where there is no will).
To obtain a Grant of Probate from the Court, the executor should make an application within 6 months of the deceased’s death or give a reason to the court for the delay regarding the case of an application being made more than 6 months after the deceased’s death.
The deceased’s assets are completely frozen until Probate has been approved. However, the executor has access to the deceased’s bank account to cover the funeral costs and expenses, and any Court fees related to acquiring the Grant of Probate.
For a confidential discussion relating to Wills and Probate, do not hesitate to contact Roser Lawyers