There are several situations where it makes sense to hire a probate lawyer to help with the administration of an estate. Probate, the legal process of settling a deceased person’s affairs, can be complex and time-consuming, especially when certain complications arise. In other cases, the process may be straightforward enough that professional legal assistance isn’t necessary. Here’s a breakdown of both scenarios
The Estate Is Large or Complex
When the estate has substantial assets, multiple properties, or complex financial holdings such as business interests, investment portfolios, or offshore assets, the probate process becomes more challenging. A probate lawyer can ensure that everything is properly valued, reported, and distributed, while also handling any tax implications.
Why hire a lawyer? Large estates may trigger significant inheritance tax obligations, and complex estates often require formal appraisals or dealings with specialised legal matters like business succession, which a probate lawyer can help manage.
There Are Disputes Among Beneficiaries
Family disputes or disagreements about how assets should be distributed can delay probate proceedings. If beneficiaries disagree about the validity of the will or how assets should be divided, a probate lawyer can step in to mediate or represent your interests in court if necessary.
Why hire a lawyer? Disputes over inheritance can lead to lengthy and costly litigation. A lawyer helps navigate the legalities, ensures the will is properly interpreted, and protects your interests if conflicts arise.
There’s No Will (Intestate Estate)
If the deceased did not leave a valid will, the estate is considered intestate. UK law determines how the estate is distributed, which can be a complex process depending on the number of relatives and the value of the estate.
Why hire a lawyer? A probate lawyer can help navigate the intestacy laws and ensure that the estate is distributed according to legal requirements. They can also assist in identifying and notifying all heirs, which can be particularly tricky when distant relatives are involved.
There Are Concerns About the Validity of the Will
If there are concerns that the will was created under duress, lacks proper signatures, or does not reflect the true wishes of the deceased, a lawyer is crucial. This is often referred to as a contested will.
Why hire a lawyer? Challenging or defending the validity of a will can be a complex legal battle, and you’ll need an attorney to navigate the court process and present evidence to uphold or contest the will.
There Are Debts or Insolvency Issues
If the estate has significant debts, or there is uncertainty about its solvency (whether it has enough assets to cover its liabilities), the executor must carefully manage the payment of debts and taxes before distributing any assets.
Why hire a lawyer? In cases of insolvency or uncertain debt claims, a probate lawyer ensures debts are handled properly and in compliance with UK law. They can also protect the executor from personal liability if debts aren’t managed correctly.
Complex Tax Matters
Estates that may be subject to inheritance tax (IHT) or have complicated tax arrangements can benefit from legal advice. UK IHT is currently set at 40% for estates above £325,000 (as of 2024), but exemptions and reliefs (such as the residence nil-rate band) can significantly reduce the amount owed.
Why hire a lawyer? A probate lawyer can ensure that all exemptions, allowances, and reliefs are applied, reducing tax liabilities. They can also manage complex filings and communications with HMRC.
Conclusion
In many cases, especially when estates are large, complex, or involve disputes, hiring a probate lawyer can save time, money, and stress. The legal expertise they provide ensures that assets are properly managed, beneficiaries’ rights are protected, and taxes are handled efficiently. However, for smaller, straightforward estates, it may be possible to manage probate on your own without needing legal assistance, or just taking advice on the aspects of the process that you feel unsure about.
If you’re unsure about whether you need a probate lawyer, contact us for an initial discussion and can help you assess your situation and make an informed decision.