How does probate work in the UK

 

 

 

Probate in the UK is the legal process of handling a deceased person’s estate, including their money, property, and possessions. Here's how the process works:

1. Determine if Probate is Required

• Probate is usually required if the deceased owned significant assets in their name only, such as property or large bank accounts.
• If the estate is small or jointly owned with a surviving spouse (e.g., a joint bank account), probate might not be necessary.

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2. Value the Estate

• List all the deceased’s assets (e.g., bank accounts, property, investments) and liabilities (e.g., debts, mortgages).
• Notify financial institutions to freeze accounts and obtain valuations.
• Calculate the net value of the estate (assets minus liabilities).

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3. Check for a Will

• If there is a will: The named executor(s) in the will must apply for a grant of probate.
• If there is no will: The estate is distributed according to the laws of intestacy, and a relative must apply for letters of administration.

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4. Apply for a Grant

• Submit an application to the UK Probate Registry, including:
  • A completed probate application form (e.g., PA1P if there’s a will, or PA1A if there’s no will).
  • A copy of the death certificate.
  • The original will (if available).
  • An inheritance tax (IHT) return (see below).

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5. Handle Inheritance Tax (IHT)

• IHT must be paid if the estate exceeds the tax-free threshold (£325,000 as of 2024, with possible additional allowances).
• Submit an IHT form:
  • Form IHT205 for estates below the threshold.
  • Form IHT400 for taxable estates.
• Some IHT may need to be paid upfront to secure the grant.

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6. Administer the Estate

• Once the grant is issued, the executor or administrator gains legal authority to:
  • Collect assets (e.g., sell property, access bank funds).
  • Pay off debts and taxes.
  • Distribute the remaining estate according to the will or intestacy rules.

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7. Distribute the Estate

• Executors must distribute the estate to beneficiaries as outlined in the will or intestacy laws.
• Keep detailed records of transactions and obtain receipts from beneficiaries.

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8. Close the Estate

• After all assets are distributed and liabilities are settled, the probate process is complete.

Key Points:

• Probate can take several months to over a year, depending on the complexity of the estate.
• Legal advice is recommended for complex estates or disputes among beneficiaries.
• Online probate services are now available for straightforward applications.

Would you like to explore any of these steps in more detail

EWS1

 

 

 

An EWS1 Certificate (External Wall System 1 Certificate) is a document used in the UK to confirm the fire safety of a building's external wall system. It is particularly relevant for high-rise buildings and was introduced in response to the Grenfell Tower tragedy to address concerns about cladding and fire risks in residential buildings.

Here’s a quick breakdown:

What is the EWS1 Certificate?

• Purpose: Assesses the fire risk posed by a building's external wall materials, including cladding, insulation, and attachments like balconies.
• Applicability: Typically applies to buildings over 18 meters (approximately six stories) in height, but in some cases, it is required for buildings under this threshold if there are specific fire risk concerns.
• Audience: Used by mortgage lenders, surveyors, and prospective property buyers to determine whether the building is safe and suitable for financing.

How Does the EWS1 Process Work?

1. Inspection: A qualified fire safety professional inspects the building's external wall system.
2. Report: The professional evaluates the materials and construction to ensure compliance with fire safety standards.
3. Certification: If the building meets safety requirements, an EWS1 Certificate is issued.

Key Points About the Certificate:

• Two Categories:
  • Option A: The materials are unlikely to be combustible (e.g., brick, concrete, metal).
  • Option B: Combustible materials are present but are deemed safe following a detailed fire risk assessment.
• Validity: The certificate is typically valid for the whole building, not individual flats, for up to 5 years unless significant changes occur.
• Who Can Issue It: Only qualified professionals, such as chartered fire engineers or surveyors with relevant fire safety expertise, can issue EWS1 Certificates.

Common Issues:

• Availability: Obtaining an EWS1 Certificate can be challenging due to a limited number of qualified assessors.
• Impact on Sales: Buildings without an EWS1 Certificate may face difficulty with sales or remortgaging.
• Cost: The inspection and certification process can be expensive and is often borne by the building owner or management company.

Would you like to know more about how to obtain one, who to contact, or specific concerns related to the certificate?

 

An EWS1 Certificate (External Wall System Certificate) is a document used in the UK to confirm the fire safety of a building's external wall system. It is part of the response to fire safety concerns raised after the Grenfell Tower tragedy. The certificate is required mainly for residential buildings over 18 meters (or about six stories) in height, although it may also be used for some lower buildings depending on their cladding or materials.

Key Features of an EWS1 Certificate:

1. Purpose: Assesses whether the external wall materials, including cladding and insulation, pose a fire risk.
2. Issued by: Qualified fire safety professionals with expertise in external wall systems.
3. Use: Primarily for mortgage lenders to determine whether a property is a safe and insurable investment.
4. Outcomes:
   • Option A: For walls where materials are unlikely to need remediation.
   • Option B: For walls that may need remediation or further investigation.

When is it Needed?

• For buildings with cladding or other potentially combustible materials.
• When selling, remortgaging, or valuing a property within an affected building.

Challenges:

• Delays: There have been significant backlogs in obtaining EWS1 assessments, as only a limited number of qualified professionals can perform them.
• Not Legally Mandatory: However, many mortgage lenders require it for transactions.

If you need an EWS1 certificate, it’s advisable to contact your building's management company, freeholder, or managing agent, as they are typically responsible for arranging the assessment.

Conveyancing indemnity insurance

 

 

 

Conveyancing indemnity insurance is a type of insurance policy typically used during property transactions in the UK to address legal risks that might otherwise delay or complicate the process. It provides financial protection for the buyer (and often their mortgage lender) against specific potential defects in the property’s title or legal status that cannot be easily resolved.

Common Scenarios Covered:

1. Restrictive covenants: Protects against the risk of a property breaching historical covenants that could result in legal challenges.
2. Lack of building regulations or planning permission: Covers potential penalties or enforcement actions for missing approvals.
3. Right of way or access issues: Provides protection if access to the property is disputed.
4. Missing deeds: Insures against risks arising from missing or incomplete documentation.
5. Chancel repair liability: Covers the potential cost of contributing to church repairs if the property is liable under ancient laws.
6. Absence of easements: Protects against issues such as the lack of formal rights for utilities like drainage or electricity.

How It Works:

• Single premium: A one-time payment is made, usually by the buyer, seller, or sometimes the mortgage lender.
• Validity: Policies often last indefinitely and transfer to future owners, providing ongoing protection.
• No claims requirement: The policy compensates for losses but typically does not involve active resolution of the defect.

Why It’s Used:

• Efficiency: It allows transactions to proceed without the need to resolve the underlying legal issues, which could be time-consuming and costly.
• Reassurance: Provides peace of mind to all parties in the transaction.

Cost:

The cost of conveyancing indemnity insurance depends on the type and scope of cover, the value of the property, and the specific risk being insured. Premiums can range from a few tens to several hundred pounds.

If you're considering this insurance, it’s best to consult your solicitor or conveyancer to understand its necessity and scope in your transaction.