Legal Group Solicitors for the Elderly (SFE) have issued a warning that although it is entirely possible to apply for probate and deal with an estate without seeing a lawyer, this is not without risks.
They explain that many professionally drafted Wills contain Trusts to save tax, to avoid those who inherit paying care home fees and to reduce the likelihood of potential disputes. SFE members have noticed an increase in 'DIYers' returning to them to seek advice when they have made a mistake or find the paperwork too tricky.
Mrs A's Will had included a tax-saving Trust, but when her husband administered the estate, he paid the whole estate to himself. The solicitor was thankfully able to sort out the matter and avoid future complications occurring when Mr A eventually dies. In Mr G's case, he sold some shares that had made a gain during the administration of his late sister's estate and had to pay tax. If he had transferred the shares to himself first, before selling them, he could have avoided the tax.
KCJ partners Robert Chalmers and Lynn Wicks are both members of Solicitors for the Elderly. Robert comments: "People aren't always aware of the complexities and assume probate work is straightforward. It is true that it can be, but it isjust as true that sometimes it isn't. In all but the most straightforward cases, it is important to seek timely specialist legal advice that can actually save you money and worry."
Like many SFE members' firms, KCJ is happy to work in partnership with a deceased person's family to help and support them with the legal and technical work. It is sometimes possible to add additional value, for example by identifying cases where money is owed to the estate for care funding which should have been met by the NHS and assist in making a claim.
Please contact any of the lawyers in our Wealth Management team for individual advice.
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