Probate and how we help
When someone dies in the UK, their estate (everything they own in their own name at the time of death) needs to go through a process where their possessions and assets are brought together to be distributed, and probate allows this to happen legally. This process however, can require a lot of information. Because our clients have the means to store their information effectively, Data Organiser will be able to help the process. This can also allow them to save their family time and money.
When a client of ours dies, and we are notified, we can work with the executors or administrators of the estate, to retrieve the information they need to complete the probate forms. In fact, our systems are designed to pre-fill a lot of the information required. This will give the executors or administrators of the estate a lot of help and will give them most of the information they need to fill the forms in accurately, but also confidently.
When a client of ours dies, and we are notified, we can work with the executors or administrators of the estate, to retrieve the information they need to complete the probate forms. In fact, our systems are designed to pre-fill a lot of the information required. This will give the executors or administrators of the estate a lot of help and will give them most of the information they need to fill the forms in accurately, but also confidently.
Probate example
A not so simple estate
Mr and Mrs A have a few thousand pounds of savings between them, mostly kept in Mrs A's name. When Mrs A dies, she leaves behind two bank accounts in her sole name, with everything else in joint names with her husband. Both banks are happy to release funds to Mr A without probate, so long as a simple identification process is carried out, with a copy of the original will.
In this example, you may think that it is an easy process to go through, but there may still be a lot of form filling to settle Mrs A's affairs. Furthermore, depending on the size of the estate left behind by Mrs A, banks may insist on a grant of probate (the paperwork needed to distribute an estate). Mr A may also be too upset to deal with the paperwork. If a family member had easy access to all the required information (as handled with Data Organiser), they should find it relatively easy and quick to sort things out. Mrs A could have nominated family members to get quick access to her information on her death (important if they are executors).
What happens when both people die? This is where it becomes much harder to sort things out quickly, as people do not tend to share access to their information with the whole family. Data Organiser can bridge that gap by allowing access only after death and after verification of death and identity. The more complicated the estate, the more useful Data Organiser will become.
Mr and Mrs A have a few thousand pounds of savings between them, mostly kept in Mrs A's name. When Mrs A dies, she leaves behind two bank accounts in her sole name, with everything else in joint names with her husband. Both banks are happy to release funds to Mr A without probate, so long as a simple identification process is carried out, with a copy of the original will.
In this example, you may think that it is an easy process to go through, but there may still be a lot of form filling to settle Mrs A's affairs. Furthermore, depending on the size of the estate left behind by Mrs A, banks may insist on a grant of probate (the paperwork needed to distribute an estate). Mr A may also be too upset to deal with the paperwork. If a family member had easy access to all the required information (as handled with Data Organiser), they should find it relatively easy and quick to sort things out. Mrs A could have nominated family members to get quick access to her information on her death (important if they are executors).
What happens when both people die? This is where it becomes much harder to sort things out quickly, as people do not tend to share access to their information with the whole family. Data Organiser can bridge that gap by allowing access only after death and after verification of death and identity. The more complicated the estate, the more useful Data Organiser will become.