If you have been appointed as an executor in a will, you may be tempted to try to obtain probate yourself with a view to saving on legal costs.
However, except with the simplest of estates, the process can be complex for inexperienced executors to handle and there are many potential pitfalls and problems which can arise. In the event of a dispute regarding the will, it can end up costing much more than it might have done and adding a significant delay to the process.
Marie Tisdale, director and head of wills and probate at Ansons Solicitors in Lichfield has put together this blog series, to explain the common areas where complications arise, and how using a solicitor can avoid some of the potential pitfalls.
Calculating inheritance tax
Depending on the value of the estate, you may then need to submit an account to HM Revenue & Customs and arrange payment of any inheritance tax. You will also need to provide beneficiaries with detailed accounts of the estate. If this is not done accurately you could find yourself open to accusations of fraud.
By instructing an experienced solicitor, you can shorten the process of obtaining probate and avoid causing unrest among the family. With often large amounts of money at stake, it is safer to leave it in the hands of an experienced solicitor who specialises in probate law and can provide you with the assurance that everything will be handled correctly. The fees of a solicitor are a legitimate expense of the estate.
For more advice about obtaining probate contact Marie Tisdale at Ansons Solicitors in Cannock and Lichfield, on 01543 267 981 or email mtisdale@ansons.law.