The passing of a loved one can be a difficult time for a family and friends. However, beyond the grief there are financial matters that need to be dealt with after following the proper procedure. As per the recommendations of wills solicitors, we have compiled a guideline for relatives and friends to following in dealing with the estate of a recently deceased loved one.
If they have left a Will
As per law, a Will must meet certain requirements to be valid. This is to make sure that the will can be followed properly, and that there was no fraud in making the will. Wills Solicitors can advise on whether the will is valid or not.
The Will specifies the “executor” to put the deceased’s affairs in order and deal with the Will itself. It is however the executor’s decision to accept or decline the responsibilities.
If there is no Will:-
If the deceased has left behind no will, the deceased is said to have “died intestate”. Under such circumstances, the estate will be distributed according to the intestacy laws. And the person who deals with the estate is known as the “administrator”.
In most circumstances, you will need to apply to the court for:-
- “Grants of Probate” if there is a valid will.
- “Letters of administration” if there is no valid will.
What happens next?
Once the grants of probate and letters of administration are approved, then as the personal representative you can take control of the estate. You will have to clear pending debts and bills before distributing the estate.