DIY Probate in England and Wales with or without Help

DIY probate (England and Wales) – is it for you?

Doing it yourself with or without support can substantially reduce costs, and even speed things up if you have nothing else to worry about and have those skills. However, it can also land you in deep trouble with the Taxman, the beneficiaries, and people who think they should be beneficiaries but are not. The worst case scenario is dire. But most of the time, things won’t be that bad (and you can always hand it over to our panel of advisers if the going gets tough!)

Do it yourself probate – some cases where you maybe should not DIY:

• If the estate contains trusts.
• Where there is a business involved.
• If inheritance tax might be payable (we can introduce you to tax experts who may save you much more than their fees.)
• If there may have been substantial gifts over the previous 7 (and sometimes 14) years.
• Where there are overseas assets.
• Where there may be family arguments (too many families never make up again – (if we organise professional help, the professionals shelter you from blame!) Ending up in Court may mean no one inherits anything but debt and bitterness.
• Where you don’t have the time or administrative skills.

Click HERE for your LOCAL Probate & Registration information.

But what other options are there to Do it yourself Probate?

We introduce you to firms who can do as much or as little of the work as you like. But they also offer an Assisted Probate Service where you get all the information, they give it the once over, then assist you to fill in the probate forms. The forms are often the most difficult part of the process. If you need a little help over and above that, they just charge for the time spent, which may just be a few minutes (although to be fair, it is usually longer than that, but they do try to keep it to a minimum).

As things stand, well over half of probate applications are by solicitors. This Assisted DIY Probate Service aims to help those who are not quite confident or time rich enough. Even those with really complex estates where IHT expertise can pay real dividends can cut costs by collecting in all the basic information, and not paying solicitors to do it.

Legal Responsibilities of Do It Yourself Probate

The executor is legally responsible for meeting all genuine claims on the estate. That may include debts (known and unknown), income tax, inheritance tax, capital gains tax. They must also consider the possibility of anyone claiming under the Inheritance Acts for family provision. Get it wrong and you could get personal penalties from the Taxman. If you don’t get it right, you could be sued by beneficiaries or creditors. Our advice is to consider do it yourself probate only where everything is straightforward.

DIY Probate stages explained

The executor must:

• Protect the estate with all that involves.
• Value the estate.
• Find out what the liabilities are.
• Pay any tax due of whatever type, including income tax, IHT etc etc. Probate loans.
• Apply for a grant of probate.
• Administer the estate. That means gathering information on all the assets and liabilities, paying the bills, and eventually paying out the beneficiaries. Very often do it yourself Executors get this wrong because they don’t understand the real meaning of the clauses in the Will. Or the executor doesn’t understand how the Rules of Intestacy work.

With us,  the Assisted Probate Service can help to get the grant of probate for you. You could, if you wished, take over the rest of the estate administration yourself.

We do offer a free guide to Do It Yourself Probate (by email only, I am afraid). Just use the form alongside.

DIY Probate Help and Review (IHT 205) covers:

DOCUMENT CHECKING

This is a form checking service. For a fixed fee of £249 they will review the PA1 and IHT 205 forms that you have completed against a list of Assets & Liabilities containing the date of death values provided to us by you.

A broad outline of the work they are to carry out for you is:

• Receiving the completed PA1, IHT 205, and a list of assets & Liabilities with their date of death values;
• Receiving a completed family tree where there is no Will including details if widowed/divorced;
• Receiving a copy signed Will (if there is one)
• Receiving a copy death certificate
• Receiving payment in full in advance
• Reviewing the PA1, IHT 205 and commenting on any amendments to and / or more information required by telephone appointment with follow-up email of bullet action points

Their next service is for a slightly more complicated estate where extra forms have to be completed (and they are pretty tough).

DIY Probate Help and Review (IHT 400) Larger or more complex estates.

There may well be the possibility of Inheritance Tax, significant lifetime gifts, or trusts, both lifetime and Will trusts.

This is done on the basis of charging just for the time used and is tailored to your requirements. It is carried out by phone, post, and email as appropriate. Video meetings are available. A broad outline of the work they may be asked to carry out for you is:

• Receiving and discussing the completed PA1, IHT 400 and supporting schedules and list of assets & Liabilities with their date of death values
• Receiving and discussing a completed family tree including details if widowed/divorced where there is no Will;
• Receiving and discussing a copy signed Will (if there is one)
• Receiving and discussing a copy death certificate
• Reviewing the PA1, IHT 400 and supporting schedules and commenting on any amendments to and / or additional information required by telephone.

 For the  DIY probate forms click the link.  These are very well worth using to prepare information on, even if you are going to use the HMCTS online service.   We are told that it takes 4 to 5 weeks for the HMRC Helpline 0300 123 1072 to post out a pack.  That sort of delay could easily land you with a fine if Inheritance Tax is payable, as it should be paid by the end of the 6th month following the month in which the person died.  One could even suspect it was a deliberate ploy to raise revenue!Our Guide to Do it yourself executorship in probate is free and without obligation, so why not give it a read.   Even if you decide to hand all the work over to the most suitable of our panel, you will be better placed to understand what is happening and answer beneficiaries questions. Do it yourself probate FAQ:

Who decides if probate is needed?A) Small estates don’t always need probate, and estates passing between legally married/ civil registered.Very often it is a matter of what is in the estate, and whether the asset holders require probate, see this article to see what the limits are for various banks etc.  Land, houses, flats etc in the sole name of the deceased or owned as Tenants in Common will always require probate. In an extreme case Inheritance Tax may be payable even though no one insists on probate!

 MORE FAQ.    .