family lawyer inverness executries probate

Executries (Probate) Lawyer Inverness

probate lawyer invernessContact Family Law Inverness today for expert executry support and advice. You can call us on 01463 630 027 or contact us online.

For those named as an executor, winding up a deceased’s estate can be quite a complex and involved process. At Family Law Inverness, our expert Executry and Probate lawyers regularly help executors fulfil their obligations and duties, and help to make things easier during what is likely to be an emotional and stressful time.

What is an Executor?

An Executor will normally be appointed through the deceased’s will to deal with the estate, in particular, to pay off debts and transfer assets in accordance with the deceased’s wishes.

In order for the Executor to act, they must first obtain a copy of the deceased’s Death Certificate and will if one has been left. If not, the executor must obtain the deceased’s Death Certificate and a Bond of Caution. In both instances, a cheque must also be sent to the Sheriff Court for the relevant fees.

Fulfilling these criterion would suffice if the estate was under the value of £10,000, however, where it is larger than that - and particularly where the deceased has owned their home - the executor also has to obtain Confirmation.

Confirmation

Confirmation is the Scottish equivalent of Probate and it is a legal document obtained from the Sheriff Court within the jurisdiction of the deceased’s main residence. It provides the executor with the power to uplift funds and other assets from holders, for example banks, and to distribute it.

Until Confirmation has been obtained, the executor cannot access any of the deceased’s bank accounts, sell/transfer any investments or initiate the sale of the home. Therefore, the executor must obtain Confirmation by completing the necessary documentation, including an inventory listing the deceased’s property and valuations of it at the date of death. Once the Sheriff Court receives all the relevant documentation, Confirmation is normally issued around 2 weeks later.

Time-Scales

The complexity and size of the estate often affects the time-scale involved. It is important to realise that valuing the estate may take several weeks, as third parties may be needed to provide the executor with information. In addition, there is a six month rule that states that an executor should not complete the winding up an estate within a period of six months after the date the deceased passed away. If the executor goes ahead and does so, they will be personally liable to meet any valid claim made against the estate after that time. The time-scale may also be affected if Inheritance Tax requires to be settled with the HMRC; however, these time-scales are necessary to ensure all the proper procedures have been followed.

Executries in Inverness

Our friendly family lawyers are highly experienced in all areas of executry and winding up estates. Contact us today.

Call us on 01463 630 027 or contact us online.

Enquire now

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