Things you Need to Know About Applying for Probate – Post Covid 19 – Series 9

Continuing with our series about things we think you need to know about applying for Probate.

Remember to Protect the Estate After Death

Executors are legally responsible for the assets of an estate, including any residential property. Most find that they have to take out empty building insurance, if the house is vacant for thirty days or more before it is sold.

This can be difficult to obtain by way of a layperson, but there are insurance companies out there who will deal with this.

You will find that they will require a considerable amount of information before they will even quote on the matter, and often once the information is given, they may turn round and decide not to quote.

Often a vexed question is in relation to the personal possession of the deceased, and the valuable assets need to be removed, and the property needs to be maintained, so that it is not obvious it is empty.

Often families who feel they are entitled to possession will resist this, but it is the executor’s duty to ensure that the valuable possessions are protected.

When monies are released from the estate, be aware that although The Financial Services Compensation Scheme usually has limit of £85,000, the money from a deceased persons estate is covered up to 1 million pound, but only up to six months. The protection begins from the date the balance is credited to a depositors account, or in the case of a professional adviser is credited to a clients account, held on the individuals’ behalf.

We offer a service where, we will draft and provide the appropriate paperwork, for the application for the Grant of Representation to be made.

Please do not hesitate to contact to us if you have any queries on this matter.