What is a probate professional?

A probate professional is a specialist who provides expertise in managing and administering the probate process, which involves handling the estate of a deceased person. Their role is crucial in ensuring that the deceased's wishes are carried out according to their will and that the estate is managed in compliance with legal requirements. Here's a detailed overview of what a probate professional does:

1. Role in the Probate Process

• Obtaining Probate: Assisting with applying for and obtaining the Grant of Probate (or Grant of Letters of Administration, if there is no will). This legal document authorises the executor or administrator to manage the estate.
• Validating the Will: Ensuring that the deceased's will is legally valid and meets all necessary legal requirements.

2. Estate Administration

• Asset Management: Identifying, valuing, and managing the deceased’s assets, which might include property, investments, personal property, and bank accounts.
• Paying Debts and Taxes: Settling any outstanding debts, bills, and taxes owed by the estate, including inheritance tax.
• Distributing Assets: Distributing the remaining assets to beneficiaries according to the terms of the will or, if there is no will, according to intestacy laws.

3. Legal and Financial Responsibilities

• Compliance: Ensuring compliance with legal requirements, such as filing necessary documents with the probate registry and adhering to probate laws.
• Record-Keeping: Maintaining accurate records of all transactions and decisions made during the probate process.

4. Advisory and Support Services

• Providing Advice: Offering expert advice on the probate process, including legal and tax implications, and guiding executors and administrators through their responsibilities.
• Handling Disputes: Assisting with resolving any disputes or claims that arise among beneficiaries, creditors, or other interested parties.

5. Types of Probate Professionals

• Solicitors: Many probate professionals are solicitors who specialise in probate and estate administration. They handle legal aspects of the process and ensure compliance with the law.
• Chartered Legal Executives: These professionals may also specialise in probate and provide similar services as solicitors.
• Probate Practitioners: Individuals or firms specialising specifically in probate services, often providing comprehensive administrative support.

6. Why You Might Need a Probate Professional

• Complex Estates: For large or complex estates, a probate professional can provide expertise to navigate complicated legal and financial issues.
• Time and Expertise: Handling probate can be time-consuming and intricate. A probate professional can manage the process efficiently, relieving the burden from executors or administrators.

In summary, a probate professional plays a vital role in ensuring the probate process runs smoothly, handling legal, financial, and administrative tasks to ensure the estate is managed and distributed according to the deceased's wishes and in compliance with the law.