When a loved one passes away, it is bound to be a challenging time for the entire family.
Yet, more often than not, such passings also throw an entire barrage of issues into the hands of surviving family members. If the passing occurred in someone who is younger or passed suddenly, then issues surrounding inheritance come into the foreground; does their non-married spouse inherit everything? Do their parents? Who is the next of kin?
Remember, that at this emotionally challenging time, there are people available who are trained and knowledgeable about such circumstances. While you and your family may not want to employ a solicitor due to a loved one passing, doing so can really clarify many areas surrounding inheritance, assets, and housing. Indeed, while it may appear to be an unnecessary expense at a glance, engaging with probate solicitors in Portsmouth can actually save you a great deal of time, money and at such a vulnerable time, heartache too.
But, what are the scenarios that may require the extensive knowledge of probate solicitors near Portsmouth? Read on to find out.
No will
More common in younger people or when a person passes suddenly, an absence of a will is a common reason to seek out probate solicitors around Portsmouth.
Such scenarios will involve identifying a next of kin and, if that next of kin is under age, the solicitor will begin instruction to have the money placed into a trust until the child is legally classified as an adult.
Will validity
A real sore spot for families who are grieving involves a will’s validity.
It is an unfortunate occurrence that family members, during the history of probate law, have drawn up fake wills in order to gain full access to an estate. Hence, there are strict guidelines in place today that govern a will’s validity in the eyes of the law.
Checking for validity is no easy task, but if you suspect that a will is fraudulent, contact a solicitor at your earliest convenience.
Insolvency
Another unfortunate occurrence is if there is an estate to be inherited, but due to outstanding debts or other issues, the estate is bankrupt.
If you suspect that the departed’s estate is insolvent, then you need to contact a solicitor who can check if this is the case and if not, can help pay off outstanding debts using the money or assets left.
Foreign assets
More common than it has been in the past, many people invest their money or other assets abroad in foreign accounts to avoid UK taxes.
If the member of your family that passed did this, then a solicitor is needed to restore the assets to you, but to also ensure that they pass through the UK taxing system legally.
Estate value
If you or your siblings have been left money by a now deceased parent, but they have an estate that exceeds the total that you are set to inherit, you need to contact a solicitor for an equal asset division.
