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Free Probate Valuation!
- Get Free Probate Advice and Consultation
- Find A Probate Solicitor - Get Free Advice and A Probate Quote
- Free HMRC Compliant Probate Property Valuation
- Sell Your Probate Property Fast - Completion In As Little as 30 days
- Fast, Simple & Stress Free
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Probate Advice
Do You Need Any of The Following Probate Services?
If you need help with any of the probate services below, simply fill in the form on this page, select what you need and one of our team will be in touch.
- Free Probate Advice and Consultation
- Finding A Probate Solicitor
- Getting A Free Probate Solicitor Quote
- Free HMRC Compliant Probate Property Valuation
- Selling Your Probate Property Fast
- Free Inheritance Tax Consultation
What Is Probate?
Probate in the UK refers to the legal process of administering the estate of a deceased person.
Probate can be a complex and time-consuming process, particularly for larger estates or if there are disputes among beneficiaries. Many people choose to work with a probate solicitor to navigate the process smoothly.
One of the first and most important tasks that must be completed before starting the probate process is to Value The Estate For Probate and Pay Any Inheritance Tax that may be due.
This is where we can help, by providing you with the following services that are normally required to execute the probate process successfully. If you would like to proceed on any of the options below, simply fill in the form on this page, select what you need and one of our team will be in touch.
We can help you with the following services:
- Free Probate Advice and Consultation – We can provide you with a Free Consultation with a probate solicitor that can provide you with free advice based on your specific situation.
- Finding A Probate Solicitor – We can refer you to a probate solicitor that can provide you with free advice based on your specific situation and provide you with a quote for completing the probate work on your behalf, if you wish.
- Free Property Valuation – We can provide you with a Free Property Valuation in any location in the UK for both Probate and Inheritance Tax purposes.
- Probate Property Sales – We can assist you with a Fast Sale of your property including buying your property directly, auctioning your property or selling your property on the open market.
- Free Inheritance Tax Consultation – We can provide you with a Free Consultation with an Inheritance Tax specialist, that can provide you with free advice based on your specific situation and provide you with a quote for completing the Inheritance Tax work on your behalf, if you wish.
How to Value An Estate For Probate?
Before probate can be granted, the estate must undergo valuation to enable HMRC to determine if any Inheritance Tax is owed.
To initiate the probate application, whether for a grant of probate in cases with a Will or a grant of letters of administration in cases without one, understanding the estate’s value including the property value, is imperative. This is because completing the Inheritance Tax forms, necessary for obtaining probate, requires knowledge of the estate’s value.
Valuing an estate entails identifying all assets and possessions, including property, as well as all liabilities such as loans and outstanding bills owed by the deceased. The total value of all assets constitutes the gross estate value, while the net value is derived by subtracting any liabilities from this amount.
Accurately estimating the estate’s value ensures the fulfilment of tax obligations and debt settlements, facilitating the correct distribution of assets.
It’s crucial to ensure precision in valuation, as administrators and executors may bear personal liability for errors. If uncertain, seeking professional guidance from a probate solicitor is advisable.
What Is Inheritance Tax?
Inheritance Tax applies to the estate of a deceased individual. It is calculated based on the total value of all assets, encompassing property, possessions, investments/shares, insurance policy pay-outs, funds in financial institutions, and cash. The standard rate of Inheritance Tax is 40%, applicable only to the portion of the estate exceeding the tax-free threshold, which presently stands at £325,000.
Do I Have To Pay Inheritance Tax Before Probate?
Yes, unfortunately, inheritance tax must be paid before probate is granted. If there is an inheritance tax (IHT) liability on the estate, a portion of the tax must be settled before probate can be obtained.
This situation can pose challenges for estate administration. For example, if the estate includes a property, it cannot be sold without probate, yet probate cannot be granted until the inheritance tax is paid.
Ideally, the executor should make an initial payment towards the inheritance tax within six months of the deceased’s passing, even if the estate’s valuation is still ongoing. This initial payment is referred to as a payment on account.
What Is The Grant of Probate?
A grant of probate is a court order recognising the validity of an individual’s will upon their death. It serves as a legal instrument empowering executors to administer the deceased person’s estate in accordance with the instructions outlined in their will.
When is Probate Required?
Probate is typically required in the UK when a person dies and leaves behind assets in their sole name that exceed a certain value threshold. The specific threshold can vary depending on the financial institutions involved, but it’s generally around £5,000 to £50,000.
Probate may not be required if the deceased person’s assets were held jointly with another person and pass automatically to the surviving joint owner(s) upon death. Additionally, some assets, such as certain types of pensions or life insurance policies with designated beneficiaries, may not be subject to probate.
However, if the deceased person owned property or assets solely in their name, or if the financial institutions involved require it, probate will likely be necessary to transfer ownership of those assets to the beneficiaries named in the will or determined by intestacy laws.
What Is The Probate Process?
The probate process typically involves several steps, including:
- Valuing the Estate: The executor or administrator identifies and values all assets including property and debts belonging to the deceased person at the time of their death.
- Paying Inheritance Tax: Inheritance tax must be paid before probate is granted. If there is an inheritance tax (IHT) liability on the estate, a portion of the tax must be settled before probate can be obtained.
- Applying for Probate: The executor named in the will or an administrator appointed by the court applies for a Grant of Probate or Grant of Letters of Administration. This document gives them the legal authority to deal with the deceased person’s estate.
- Paying Debts and Taxes: Any outstanding debts, bills, and taxes owed by the deceased person’s estate must be settled before the remaining assets can be distributed to beneficiaries.
- Distributing the Estate: Once all debts and taxes are paid, the executor or administrator distributes the remaining assets according to the instructions in the will or the rules of intestacy.
Can Assets Be Distributed Before Probate?
In some cases, small estates or those with straightforward asset distributions may allow for assets to be distributed before probate. However, this typically depends on the policies of the financial institutions involved and the specific circumstances of the estate. It’s advisable to consult with a legal professional to determine if early distribution is possible and appropriate in a particular situation.
Can You Sell A House Before Probate?
In most cases no, it’s not feasible to sell a house before obtaining probate because you lack the legal authority to do so until probate is granted. Exceptions to this rule include situations where:
1. The property is jointly owned with a surviving spouse or partner.
2. The deceased has established a trust that includes the property.
While you can list the property for sale before probate is granted, completing the sale is typically not possible in most instances.
It’s crucial to inform both estate agents and solicitors that probate has not yet been granted at the time of listing the property. Failure to do so can delay the sale process and may even cause prospective buyers to withdraw their offers.
Given the potentially lengthy and intricate nature of estate administration, especially involving property sales, seeking guidance from a qualified probate solicitor is strongly advised to navigate the next steps effectively.
The Typical Process for Selling a Probate Property Includes:
Secure the Property: Before selling the house, ensure its properly secured and maintained to protect its value.
Legal Authority: The executor or administrator of the estate must have legal authority to sell the property. If there’s a will, this authority is typically granted by the grant of probate. If there’s no will, it’s granted through letters of administration.
Valuation: The property needs to be valued to determine its market worth. Sell House Fast Group can provide you with a Free Valuation, simply fill in our online form to request one.
Marketing and Sale: Once the legal authority and valuation are in place, the property can be marketed and sold. Potential buyers need to be informed that the sale is subject to probate, which may affect the timeline and process.
Proceeds Handling: Once the property is sold, the executor or administrator can distribute the proceeds according to the instructions in the will or intestacy laws.
how it works
1
Complete The Online Form
Fill in our online form and one of our team will call you back to discuss your requirements and answer any questions.
2
Free Probate Advice and Valuation
We will provide you with a Free Probate Advice call from one of our probate solicitors and any other services that you require, including a Free Valuation of your property, if you require.
- Get Free Probate Advice
- Find A Probate Solicitor
- Get A Free Probate Solicitor Quote
- Free HMRC Probate Property Valuation
- Sell Your Probate Property Fast
3 Options To Sell Your Probate property Fast
If you are trying to sell your probate property fast, Sell Your House Fast Group can help. We have a range of different options that can help you sell your property quickly and efficiently.
Option 1
Estate Agent Sale
60 Days
We can help you sell your property fast through our fast sale estate agency service. You will achieve the maximum price and can sell in as little as 60 days.
Proactive marketing of your property to our large network of UK buyers and property investors.
- Sell In As Little As 60 Days
- 100% Of The Market Value
- Listing On All Major Property Portals, inc Rightmove, Zoopla, On The Market
- Free Professional Photography and Video
- Direct Marketing To All Local Buyers and Estate Agents In Your Area
- UK Wide Network of Local Buyers, National Buyers and Property Investors
- Free Valuation and Advice
Option 2
Auction Sale
30 Days
We can help you sell your property in as little as 30 days.
- Up To 100% Of The Market Value
- Completion From 30 days
- No Auction Sale Fees
- Any Property, Any Condition, Any UK Location
- Free Valuation and Advice
Option 3
Direct Purchase
30 Days
We can buy your property directly in as little as 30 days, if it meets our buying criteria.
- Completion From 30 days
- Cash Offer Within 24 hours
- Solicitor Costs Paid
- No Selling Fees To Pay
- £1000 cash back on completion
- Any property, Any condition, Any UK Location
- Free Valuation and Advice
Why Choose Us?
If you need help with any of the probate services below, we can help!
- Free Probate Advice and Consultation
- Find A Probate Solicitor - Get Free Advice and A Probate Quote
- Free HMRC Compliant Professional Valuation
- Free Inheritance Tax Consultation
- Fast and Secure Way To Sell Your Property
- Sales Can Be Completed In As Little As 30 Days
- We Provide Free Advice and Guidance.
- We Are Open 24/7 To Answer Any Questions You Might Have.
Get Free Probate Advice
What our customers say
Christine Clark
“Very good communication. Everything went through quickly and efficiently. Very professional in every way…”
Very good communication. Everything went through quickly and efficiently. Very professional in every way. Would recommend!
George Matthews
“My property had been on the market for a long time…..”
My property had been on the market for a long time and I really wanted a fast sale to free up the money. After a helpful and friendly phone conversation, I decided to go ahead, it was easy and so quick. I would definitely recommend them to my family and friends.
Edward Renardson
“I had contacted many companies before I came across Sell House Fast Group…”
I had contacted many companies before I came across Sell House Fast Group, I found that they had by far the best customer service and knew what they were talking about, which gave me the confidence to proceed with them.
FAQ
Yes! You can sell your property in any condition, even if it is in need of major repair or modernisation .
Depending on the sale option you select there may be no fees to pay. Our Direct Purchase and Auction service typically have no sale fees to pay. Our Fast Sale Estate Agency has estate agent fees, as standard.
Yes the probate Valuation is 100% free and you are under no obligation.
Yes, we operate across the UK and buy and sell properties in any condition and any location.
You can sell your property in as little as 30 days. If you need more time, that is no problem, we can work with you on your timelines.
You will receive the money to your bank account the same day that we complete the sale. The money will be paid directly to you on the day of completion by your solicitor.
contact us
- 0208 050 6165
- info@sellhousefastgroup.co.uk
- 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ
- We are open 24 hours a day / 7 days a week