From May 2017, the government is introducing a new set of Probate fees based on a banding system – the larger the value of the estate, the higher the fee. In many cases a Grant must be issued by the Probate Registry in order for personal representatives of a deceased person to access their assets. When this happens, upfront costs of around £200 are met by the representative and reclaimed later from the assets of the estate. But what if the upfront cost is £20,000?
Whilst it is true that you do not need a solicitor to prepare your Will in order for it to be valid, as with most drafted legal documents, it is often safer for a solicitor to prepare it. They are well used to the legal requirements to make a valid Will and what happens upon a person’s death. This will help avoid uncertainty in the future. The following are some aspects of a Will a lay-person may not be aware of and which highlight the fact that legal advice is important.