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Telegraph
7 hours ago
- Business
- Telegraph
What is probate of will and how it works
Understanding what probate of will entails is crucial when dealing and distributing someone's assets when they die, but it can be a complex and complicated process. In this guide, we will aim to demystify the topic of probate, and provide you with what you need to know to navigate its intricacies with confidence. We will cover the following: What is probate? When is it needed? The probate process: A step-by-step guide Common probate challenges and how to overcome them FAQs What is probate of will? Probate, specifically probate of will, is the legal process of managing a deceased person's estate, typically by named executors. This includes: Handling assets Paying any outstanding debts Ensuring that beneficiaries receive their inheritance Before any inheritance may be passed on, probate ensures that all financial and legal obligations are met. In order to meet these requirements, executors are granted access to the deceased's bank accounts, investments and even property. Who are the key players in probate? There are several different stakeholders involved in the probate process and it can be confusing without an understanding of them. The most important roles are: Executor: the person or persons named in the will to manage the estate. Executors are responsible for collecting and distributing the deceased's assets, completing any legal documentation and paying off outstanding debts. Administrator: in the event of no will (known as 'intestacy') or the executors being unwilling to act, the court appoints an administrator to manage the deceased's estate. Beneficiaries: those people or organisations in line to inherit from the estate. Probate registry: the UK government office that processes probate applications. HMRC: responsible for collecting any inheritance tax. When is probate of will needed? Probate of will is required when dealing with a deceased person's major financial assets. In many cases, you won't be able to take charge of and distribute assets of significant value until you have a 'grant of probate' – so it is a very important task for executors, and can be a lengthy process. Financial companies and institutions will typically freeze accounts once a person dies, and you will need probate to access assets such as savings and investments or to be able to sell their home. Banks, investment firms and the Land Registry usually require legal proof before releasing funds or transferring ownership. Some banks may pay out small sums without the need for probate, ranging from £5,000 to £50,000, depending on the provider, but you will need other documentation, such as a death certificate, to access this money. If the deceased had no property and an estate worth less than £10,000, you may be able to avoid the stress of getting a grant, but the vast majority of executors do require one. If the deceased owned property solely in their name, probate is usually required. However, if most assets were jointly owned, probate may not be necessary due to ownership transferring directly to the surviving joint owner. What is a grant of probate? A grant of probate is the legal document that you will receive once you have been given authority to access and distribute a deceased person's assets. It is not a quick process. There have been reports of widespread delays with the probate system due to staff shortages and a shift to remote working. This has left some families having to wait months longer to gain control of their late loved one's finances, which can make it harder to pay inheritance tax bills, funeral costs and to sell a property. The probate process: A step-by-step guide Applying for probate of will can be overwhelming; however, following the steps below should make the process less stressful and time-consuming. There are seven steps you'll need to go through: Register the death Find the will Arrange the funeral Contact official organisations and financial providers Value the estate Apply for probate Pay inheritance tax 1. Register the death A death needs to be registered within five working days in most of Britain (eight in Scotland). Once this is done you will receive a copy of the death certificate. Make sure you order multiple copies as financial institutions will require one when you register the death with them and there could be lots of accounts to access. Each copy will cost you £12.50 in England and Wales. Confusingly, banks will sometimes ask for an 'original certificate', but this just means a certified copy. You can order more at a later date if needed. 2. Find the will The will should name an executor – the person responsible for dealing with the finances. If there is no will, then you will need to apply for Letters of Administration. This process is virtually identical to applying for probate in all but name, but can take longer. Once you have the will you should notify all the beneficiaries and place a notice in the Gazette, the official public record, asking potential creditors to come forward. This may sound excessive, but it is necessary to show you have carried out your legal duties as executor. Joe Cobb, of the law firm JMW Solicitors, said: 'Should the executor fail to take the correct measures in identifying the potential creditors and then one comes forward after the assets have been distributed, the creditor may pursue the beneficiaries for the outstanding amount.' 3. Arrange the funeral The deceased may have left instructions for their funeral in their will. Funeral costs are notoriously varied, but on average you should expect to spend £4,285 on a 'simple' attended service, according to the insurer SunLife. Luckily, some banks will pay out funeral expenses before probate is granted. If not, you can later recover the fees from the estate. Simon Hancox, of estate planning service Kings Court Trust, said: 'Executors or administrators can be reimbursed for reasonable expenses from the estate, which could include probate registry fees, funeral expenses, property maintenance, postage costs, the cost of death certificates, property insurance costs, clearance costs, valuation fees and so on.' 4. Contact official organisations and financial providers Government departments such as HM Revenue & Customs and the Department for Work and Pensions will need to know about someone's death to resolve tax or benefit issues. But you don't need to wait for hours on hold. You can use the Tell Us Once service to register the death with the various government departments in one go. You should also contact the banks, pension providers, investment firms and other companies the deceased held funds with. If the deceased held accounts with any of the following firms, then you can use the Death Notification Service to make things easier for yourself by notifying multiple organisations at once:
Irish Times
a day ago
- Business
- Irish Times
Must I go to probate over dead relative's small holding of shares?
A relative of mine, who died some years ago, named me in their will as sole executor and, in that capacity, I have dealt fully and properly with her estate, with the exception of one small matter: the deceased had a small holding of shares (valued today at about €3,000), of which I only became aware recently. These shares are in the sole name of the deceased. Must grant of probate be applied for before they can be dealt with? Mr N. B. Being an executor is a more challenging role than many people expect and that is why you would like to think people ask whether others are happy to act in that capacity before putting their names down in their wills. READ MORE Of course, it is possible to renounce executorship, but most of us are reluctant to do so, not least as the deceased has placed their trust in us and it seems wrong to simply walk away – although that is very much what someone should do if they feel the role is beyond them. It is also why many people will nominate their solicitor to act alongside a friend or family member in the role. One of the big challenges for an executor is pulling together all the threads of a person's financial life – assets and debts – before (generally) seeking probate and then distributing any remaining assets to those named in their will. As you have discovered, it can be very difficult to track down all the strands of a person's life. We all know we should keep file or, even notes alongside our wills on assets and where they are, but we never do. You are far from the first person to be surprised by a long-forgotten asset. Probate is generally required and most often this is done by a solicitor on behalf of the executor, though it is possible in the case of very straightforward estates for an executor to make a personal application. There are some limited exceptions when you can bypass probate. This includes where the assets are jointly owned by spouses – such as the family home or bank accounts – and are transferring to the surviving spouse under what is called survivorship. In practical terms, this means these do not even form part of the estate and therefore probate is irrelevant. If the only asset in an estate is money amounting to less than €20,000 in an account that is just in the dead person's name then most banks will have procedures in place allowing it to be transferred without going through probate. There is also a process called the Small Estates Procedure for the management of estates that are, in total, worth less than €25,000. However, my understanding is that where the estate includes shares in a listed company, probate will be required. If you secured probate for the rest of the estate, you will need to inform them of this late-discovered asset and you will inevitably be required to file an updated listed of assets and debts. If you did not have to go the probate route the first time, these shares will now require it, as I understand. And that means the whole estate has to go to probate. It might well be something you require legal assistance with. Ironically, that could easily wipe out the value of these shares. The relevant value for probate, obviously, is not their current value, but the value at the time the person died. For anyone else going through an estate, it is always an idea to examine bank statements closely as this is where you might get a clue to the existence of shares through dividend payments – assuming the shares pay a dividend. Please send your queries to Dominic Coyle, Q&A, The Irish Times, 24-28 Tara Street Dublin 2, or by email to with a contact phone number. This column is a reader service and is not intended to replace professional advice
Daily Mail
3 days ago
- General
- Daily Mail
FLOURISHING AFTER 50: Dad had a secret daughter for 49 years - now she's taking a share of everything including our family home
Dear Vanessa, I'm still reeling. My father died a few months ago at 82. We had a beautiful funeral - just as he would have wanted - and my siblings and I felt proud of the farewell we gave him. Then, everything changed. We were called in by the executor to discuss the will. That's when we were told there's a fourth beneficiary: a woman none of us knew. She's 49 years old, and she's our half-sister. It turns out Dad had an affair during his marriage to our mum, and this woman is the result. We had absolutely no idea. Mum passed away 10 years ago, and as far as we know, she never knew either. I can't stop thinking about how betrayed she would have felt. To make things worse, this half-sister has been left an equal share of Dad's estate. That includes part of the family home we grew up in - a place we assumed would stay in the family. She's now reached out and says she wants to connect. She's being polite, even gentle, but I feel completely torn. My brother is furious and wants to challenge the will. My sister doesn't want to talk about it at all. And I'm somewhere in between. I feel heartbroken, confused, protective of Mum's memory, and weirdly curious about this woman who shares our DNA. I don't know what to do. Do I fight? Do I accept her? And how do I stop this from changing the way I remember my dad? Blindsided Daughter. Dear Blindsided Daughter, What a devastating thing to uncover - and at the worst possible time. You've lost your father, and now you're mourning not just his death, but the version of him you thought you knew. Finding out about a secret sibling after a parent dies shakes your identity to the core. It's betrayal layered with grief and I can feel how much you're carrying. The anger, the confusion, the need to protect your mum's memory… all of it is valid. And yet, as hard as it is to accept, your half-sister didn't ask to be born into this. She had no control over what happened back then and may have lived her whole life wondering where she came from. Her timing might feel intrusive, but her existence doesn't erase your place in the family. It just complicates it, painfully. From a legal standpoint, if your father left a valid will and was of sound mind when he signed it, you may not be able to contest it successfully - especially if this woman has a legal claim as his biological child. But it's worth getting advice from an estate lawyer in your area before making any decisions. If you're unsure where to start, I offer a free referral service that can connect you with financial advisers and estate professionals who handle situations just like this. Emotionally, though? That's a different story. You get to choose how this unfolds. You don't have to welcome her with open arms. But you also don't need to turn this into a battle that leaves you more broken than the situation already has. This isn't just about the money - it's about legacy, fairness, and the stories we tell ourselves about our families. I believe having honest conversations about these things, even the hardest ones, is the only way to find peace. If the emotions become too tangled to talk through with others, try writing your dad a letter he'll never read. Say everything - the love, the pain, the betrayal. It's not about him hearing it. It's about you letting it go. You've been hit with a truth you didn't ask for. But how you move forward from here - that part is entirely yours to shape. Wishing you the best, Vanessa.
Mail & Guardian
26-05-2025
- General
- Mail & Guardian
Inheritance in limbo: How the Master's Office fails grieving families
The system turned our mourning into a minefield. Graphic: John McCann/ M&G When a loved one dies, the grief should be sacred. It should be met with compassion, clarity and support. But, in South Africa, mourning often collides with bureaucracy, and what should be a dignified farewell turns into an administrative nightmare, especially when the Master's Office becomes part of the problem. In September 2023, my father passed away. The pain of that loss will remain etched in my memory, not just because of his absence, but because of how the system turned our mourning into a minefield. The tragedy began on my birthday, 4 September, when he suddenly fell ill. By the end of that month, he was gone. We buried him with dignity — or at least tried to. He was a well-respected man, even in death. But the peace we tried to preserve was quickly shattered by his own family. Despite my brother being his only biological child, a group of retired siblings, our aunts and uncles, rushed to the Master's Office in Mahikeng, in North West, to open a file. They were told that the estate's value exceeded the R250 000 threshold and that a lawyer would be required. They were also told something else — they couldn't proceed without the biological child. That's when they came knocking, seeking my younger brother. My mother, ever cautious, sent me to accompany him, a move that would prove critical. We followed the Master's instructions and got a lawyer. My brother was appointed executor through a letter of authority issued under Section 18(3) of the Administration of Estates Act 66 of 1965, which governs estates under a certain threshold where no will exists. That should have been the end of the matter. It was only the beginning. The elusive BI-1663: The gatekeeper to the truth One of the key documents required for claiming policies and processing estate matters is the BI-1663 — the death notice form signed by the funeral parlour and family. Our family couldn't locate it. Why? Because it was being withheld. We approached my father's younger brother in December 2023, during the festive season, a time when families should gather in peace. Instead, we were kicked out of his home and threatened. We pleaded for the form so we could finalise one of the legitimate policies left behind for my little brother. Ironically, this uncle had helped with one of the claims. At the time, no mention was made of a will. He even accused us of 'claiming' when, in truth, we were following due process. The mysterious appearance of a will Then came the shock. When we tried to claim another legitimate policy in January 2024, we were told something chilling — a new letter of executorship had been issued. A will had surfaced. We had never seen it. No one had informed us. And no one had signed for its delivery at the Master's Office. Let that sink in — a completely new executor had been appointed without any notice to the existing one. A will was accepted without transparency and we only discovered it because a private insurer alerted us, not the state. This wasn't just an administrative error. It was negligence that borders on complicity. No signatures. No notifications. No accountability. Under the law, the Master's Office is required to act with transparency and procedural fairness. According to the Promotion of Administrative Justice Act and section 33 of the Constitution, every person has the right to administrative action that is lawful, reasonable and procedurally fair. How does one accept a will without due process? How is it that, months after an executor was formally appointed, a new one can be slipped in through the back door without even a courtesy call to the original applicant? This failure is not unique to our case. In 2020, the Office of the Chief Master acknowledged in parliament that hundreds of cases had been compromised by fraud, mismanagement and missing files. Efforts have been made to digitise processes but these have been poor. The public is left in the dark. Families are told different things at different times. Documents go missing. Queries are ignored. And the human cost? Enormous. This dysfunction has a face — mine. My brother's. And thousands more. I've since learned that we are not alone. Families across the country are calling radio stations, appearing on TV shows like Mamazala and Rea Tsotella , or resorting to expensive private investigators all because the Master's Office is a breeding ground for fraud and betrayal. My family has escalated this. We've engaged signature experts. My family has escalated this. We've engaged handwriting experts and are currently in court disputing the validity of the will. But justice moves slowly — and often too late. Meanwhile, the people who obstructed these processes are living off policies not meant for them, with no regard for the wishes of the deceased, nor the law. This article is just the beginning. It's the first in a series I intend to write, not just about my family, but about the systemic rot that allows this to happen. We need reform. We need digital tracking. We need real-time estate visibility. We need legislation that holds the Master's Office accountable for breaches of trust and protocol. But most of all, we need to start talking. Because until we do, the dead will keep being buried twice — once in the ground and again beneath paperwork and lies. Orateng Lepodise is a writer and communications specialist.
Yahoo
18-05-2025
- Health
- Yahoo
Tips on handling advance care directives, Roth IRAs
Dear Liz: There is a lot of dysfunction and drama in my family so in my will, I've named a friend to be my executor. But I don't think she's the best person for my advance healthcare directive. She's too nice and I think she would cave under pressure from my family. Can I choose someone else? Answer: Absolutely, and often that's the best choice. Your executor is the person who will settle your estate after you die. You should pick someone you know to be trustworthy and diligent. The executor (or successor trustee, if you have a living trust) doesn't need to be a financial expert, since they can use estate funds to pay for legal and tax help. The person who makes healthcare decisions for you may need another set of skills. They may face considerable pressure from others, including family, friends or the medical establishment, so you'll want someone who not only understands your wishes for end-of-life care but who will fight to carry them out. Your advance care directive or living will is the document where you articulate your wishes for the care you do and don't want at the end of your life. You'll also need to create a medical power of attorney, which is where you name the person you want to speak for you if you become incapacitated. Even a detailed advance care directive can't cover every circumstance, and the power of attorney will help ensure that your chosen person can advocate for you no matter what happens. You'll need one more document, which is a financial power of attorney. This names someone who can pay your bills and otherwise handle your finances if you become incapacitated. You can name your executor, the person you named for healthcare decisions or some other person to serve this role. Check with your financial institutions, since they may have their own documents they'll want you to use. If possible, you should name at least one backup for each position, since people may not be able to serve when the time comes. Also, your wishes or circumstances could change over time, so all these documents should be reviewed at least annually and updated as necessary. Dear Liz: I work for a local government and am trying to decide when to retire. I will receive a pension and have put away as much money as I could afford in my 457 deferred compensation plan. I invested it in a Standard & Poor's 500 index fund that has performed well and is now worth $1.3 million. I also have a non-sheltered brokerage account of seven figures and no debt. Last year, I contributed vacation time and money to maximize my 457 contribution of $46,000. This year (and next unless I retire), I am likewise maximizing my contribution and contributing $46,000 each year. But periodically our monthly expenditures have exceeded my monthly income after the contribution and I have had to dip into the brokerage account to make up the difference. Does that make financial sense to do if needed or should I consider scaling back my contribution? Answer: When you're behind on saving for retirement, maximizing your contributions to tax-deferred plans in your final working years can be a smart move. You, however, have a large amount of savings as well as a pension, so you may face a different problem: higher future taxes. Diligent savers can find themselves pushed into a higher tax bracket when required minimum distributions (RMDs) kick in. RMDs used to begin at age 70-½, but now start at age 73 for those born between 1951 through 1959 and will rise to 75 for those born in 1960 and later. Many people with large tax-deferred retirement accounts can reduce their lifetime tax bills by converting at least some of the funds to a Roth IRA. Conversions are taxable, but Roths don't have required minimum distributions and future withdrawals from Roths can be tax free. Conversions can affect other aspects of your retirement, such as Medicare premiums, so you'll want sound tax advice before moving forward. You also may want to consult a fee-only financial planner who can review your overall financial situation and help you shape your retirement income plan. Liz Weston, Certified Financial Planner®, is a personal finance columnist. Questions may be sent to her at 3940 Laurel Canyon, No. 238, Studio City, CA 91604, or by using the "Contact" form at Sign up for our Wide Shot newsletter to get the latest entertainment business news, analysis and insights. This story originally appeared in Los Angeles Times. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
