We’re not always the best at talking about later life matters, whether that’s wills, probate, powers of attorney, estates, or anything in between. One question we often hear at Probate Solicitors Near Me is “Do I need probate if my husband dies?”.
It’s a question that’s worth asking – and the answer’s not as simple as yes or no. Sadly, few things are when it comes to the probate process.
We’ll begin with the always elusive ‘it depends’, because it really does. There’s a range of circumstances and everybody’s life is different, which means that every will is different…
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Probate – What Do I Need To Know?
Probate is the formal process that releases the various assets to the estate in accordance with the deceased’s will so that they can be distributed to the beneficiaries.
It’s smart to work on the assumption that you probably WILL need probate, given that the exceptions are as follows:
- If the estate is valued at less than £5,000
- If the deceased jointly owned their assets with another person who is still alive
Probate might not be required if the total value of the estate is £10,000 or less, but this is subjective and will depend on the view of the financial authorities with whom the money sits.
But the reality is that in marriage, many of your assets will be jointly owned, whether that’s a house, joint bank accounts, cars, as well as savings and investments.
Which would mean that probate will NOT be required…
Of course, every marriage is different and everyone’s individual circumstances are different, but the likelihood is that you’ll own the most significant assets jointly, and as such, probate wouldn’t be a factor.
In terms of the financial aspects of the property, you’ll be responsible for any remaining mortgage, bills, and monies owed on it, in much the same way you will be for any cars and other assets.
Any life insurance policies you own will come into play as well, as many work on a sliding scale that will ensure any mortgage is fully paid off so as not to leave the other partner in a difficult financial predicament.
How Do I Know Whether I’ll Need Probate?
Dealing with the deal of a loved one is difficult, particularly if it’s a husband, wife, or partner.
And the entire process can feel confusing when you’re not sure how the probate process works, how assets will be distributed, what pensions your partner might have had, and how to go about things…
It’s even more confusing when you’re unsure whether you’ll even need probate or not.
Which is why it’d be prudent to seek the advice of an expert from an early stage – for peace of mind as much as anything else.
Probate Solicitors Near Me
At Probate Solicitors Near Me, we’re here to guide you through the probate process from start to finish – whether you just need advice or you need guidance all the way.
Many situations can be more straightforward than you’d think, and Probate Solicitors Near Me can help you connect to a probate solicitor near to where you live to ease the burden on you and your loved ones.
All of our solicitors are hand-selected to be the best at what they do, so you can be assured of a high quality, personal service.
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