Joint probate application?

Jay0Bee

Hi, my brother and I are the executors of our mother"s will, and have just decided to go through the probate process ourselves rather than using a solicitor as the estate seems fairly straightforward and should be under the IHT threshold.

We live quite a long way from each other, plus I am no longer working whereas he is. So I am wondering whether it would be best to apply for probate jointly or - if he agrees, to suggest doing it on my own as I have more time? We trust each other and are trying to share all the tasks relating to our mother's death as fairly as we can. The beneficiaries of the will are ourselves and our children.

So really just wondering about the pros and cons. Thanks

Yorkshireman99

Jay0Bee wrote: »

Hi, my brother and I are the executors of our mother"s will, and have just decided to go through the probate process ourselves rather than using a solicitor as the estate seems fairly straightforward and should be under the IHT threshold.

We live quite a long way from each other, plus I am no longer working whereas he is. So I am wondering whether it would be best to apply for probate jointly or - if he agrees, to suggest doing it on my own as I have more time? We trust each other and are trying to share all the tasks relating to our mother's death as fairly as we can. The beneficiaries of the will are ourselves and our children.

So really just wondering about the pros and cons. Thanks

Good to hear you are on good terms. The best thing would for you to apply with your brother reserving powers. Much simpler and quicker. Plenty of help here if you need it. Have you read the stickies at the start of this forum?

Tom99

Yorkshireman99 wrote: »

Good to hear you are on good terms. The best thing would for you to apply with your brother reserving powers. Much simpler and quicker. Plenty of help here if you need it. Have you read the stickies at the start of this forum?

2nd that, easy to do and saves both of you having to sign everything which will be a pain.

AnotherJoe

3rd that, indeed that's what I've just done, with my brother reserving powers, I had him write to me so we had a record of that. There's a section in the form where you state their name and their status which is a variety of options such as renounces, reserves and i forget the other two or three.

Doing it was as very straightforward and saved £1600 (solicitors quote) and is much quicker since solicitors have to do things you don't, such as issue notices, wait several months in case of debtors coming forward, drag the process out so it seems they are earning their money, and so on.

Yorkshireman99

AnotherJoe wrote: »

3rd that, indeed that's what I've just done, with my brother reserving powers, I had him write to me so we had a record of that. There's a section in the form where you state their name and their status which is a variety of options such as renounces, reserves and i forget the other two or three.

Doing it was as very straightforward and saved £1600 (solicitors quote) and is much quicker since solicitors have to do things you don't, such as issue notices, wait several months in case of debtors coming forward, drag the process out so it seems they are earning their money, and so on.

To be fair solicitors are bound by their professional code of conduct which means they have to wait six months to see if there is any claim from someone claiming financial support. Likewise they have to issue the statutory notice(s) to any potential creditors. Any executor is still liable if they dont follow the same rules but if they know the testator well then they can choose to take a chance.

AnotherJoe

Yorkshireman99 wrote: »

To be fair solicitors are bound by their professional code of conduct which means they have to wait six months to see if there is any claim from someone claiming financial support. Likewise they have to issue the statutory notice(s) to any potential creditors. Any executor is still liable if they don't follow the same rules but if they know the testator well then they can choose to take a chance.

If they are a beneficiary, which seems highly likely, there is no chance they are taking as they are still liable for debts.

Plus if they know the testator well, they will know if anyone could realistically come forward claiming support. Again, no chance being taken.

Solicitor doesn't ,and anyway solicitors never take chances.

Larac

Yorkshireman99 wrote: »

Good to hear you are on good terms. The best thing would for you to apply with your brother reserving powers. Much simpler and quicker. Plenty of help here if you need it. Have you read the stickies at the start of this forum?

Would agree - we did this as both my brothers were executors and the one in Scotland 'stood down' as was going to might a right old faff, with the other brother in England, where the bulk of the estate resides.

Jay0Bee

Tom99 wrote: »

2nd that, easy to do and saves both of you having to sign everything which will be a pain.

Thanks Tom. Just wondering, what are we likely to have to sign? I am guessing forms to release money from bank and building society and other investments? And also documents relating to sale of the property?