Matrix Estate Planning Ltd is thrilled to announce its collaboration with Roser Coll of Temis & Co, a renowned Spanish solicitor based in Barcelona, Spain. This partnership allows us to offer comprehensive legal services to our valued UK clients who require guidance on matters pertaining to their Spanish assets or inherited properties.
With an increasing number of individuals acquiring Spanish properties or receiving inheritances in Spain, there is a growing need for expert advice and legal support. At Matrix Estate Planning, we understand the complexities involved in navigating the Spanish legal system, specifically in relation to probate and the requirement for a Spanish will. Our collaboration with Temis & Co enables us to provide tailored solutions to our clients within the realm of Spanish inheritance law.
Our team at Matrix Estate Planning boasts extensive knowledge and experience in matters regarding estates and inheritances. By partnering with Temis & Co, who specialise in Spanish law, we can now extend our expertise to include Spanish assets and probate issues. Whether you are a UK client with a property in Spain or have inherited assets in the country, our joint collaboration ensures that you receive the highest level of professional advice and support throughout the process.
By choosing Matrix Estate Planning as your trusted partner for Spanish assets and inheritance matters, you can rest assured that our knowledgeable team will guide you through the intricacies of Spanish law. We recognise that every situation is unique and requires personalised attention. Our collaborative approach with Temis & Co ensures that we can offer bespoke solutions that align with your specific needs and circumstances.
If you are a UK resident with Spanish assets or have recently inherited property in Spain, we encourage you to contact us for a consultation. Our dedicated team of estate planning experts, along with the expertise of Temis & Co, are ready to provide you with the necessary guidance and legal assistance. Together, we will help you navigate the complexities of Spanish probate, explore the need for a Spanish will, and address any other matters related to your Spanish assets.
Probate is usually needed in England or Wales when the person who died owned property or significant assets in their sole name. If a bank or other financial institution has asked for a grant of probate or grant of letters of administration (also called a grant of representation), this means probate is likely to be needed.
Below we outline other common situations and explain whether probate is needed.
A personal representative is simply another name for someone who is an executor or, if there is no will, the person who has legal authority to administer the estate.
The need for probate doesn’t depend on whether there’s a will, it depends on the financial situation of the person who died. The process is very similar regardless of whether there’s a will or not, but some of the terminology is different.
Visit our Do I need probate? page for more information on whether or not you need probate.
If there is a will and probate is needed then the executor needs apply for a grant of probate. If there is no will, then the administrator will need to apply for a grant of letters of administration.
If you’re struggling to find the will, see obtaining a copy of the will.
No, you do not have to act as an executor. You have a couple of options. Your first option is to give up all rights to act as executor (as long as you haven’t done any work on the estate administration). Your other option, if there are other executors named in the will, is to choose to have ‘power reserved’. This allows the other executors to act but you can apply to join in the probate process later on if you want to or need to.
You can also choose to instruct a probate solicitor to complete the probate work for you.
If you do act as executor, it’s important that you understand the duties and responsibilities of an executor. If you make any mistakes, you could be held liable for these.
It depends on the size of the estate and the value of individual assets. If the estate is small, with no property and less than £5,000 in the bank, probate isn’t likely to be needed. This is because some assets and small amounts of money can be dealt with without probate. Ok
Banks and other financial institutions set their own limits for probate, so it’s worth checking with them whether they need a grant of representation. We have made a list of the most common high street banks and their probate thresholds – see bank limits for probate. If probate isn’t needed, the bank might still ask for a Statutory Declaration to be completed before they release the money, as this confirms that they’re releasing the money to the right person.
For more information see probate for small estates.
If the person who died owned joint assets, such as a joint bank account or a property as joint tenants, this will pass to the surviving co-owner under the right of survivorship. The co-owner will need to produce the death certificate to formally transfer the asset into their sole name, but usually won’t need probate to do this.
Usually probate will be needed to deal with a property that is owned with someone else as tenants in common.
This is because when property is owned as tenants in common, each co-owner owns a distinct share of the property. This will pass to the beneficiaries named in their will, or according to the rules of intestacy if there isn’t a will. Probate will be needed to do this.
Again, it depends how the assets were owned. Many couples own their home as joint tenants and have joint bank accounts, meaning probate wouldn’t be required. But probate could be needed for any large assets owned in the deceased’s sole name, or a property owned as tenants in common.
If a house is held in the deceased person’s sole name then a probate will be needed to sell it. If the house is held as joint tenants and the surviving co-owner wants to sell the house, they can do so with a copy of the deceased’s death certificate.
To sell a house that is owned as tenants in common, probate will be needed.
Premium Bonds are governed by National Savings and Investments (NS&I). If the Premium Bonds holding is more than £5,000, probate will be required.
After a Premium Bond holder dies, NS&I can keep the holding in the prize draw for up to 12 months. A claim form will need to be completed that asks NS&I to either keep the bonds in the prize draw or encash them.
If the person who died left a valid will, this will name one or more executors, and it is their responsibility to apply for probate. If there isn’t a will, then inheritance rules called the rules of intestacy will determine whose responsibility it is to get probate.
With our probate complete service we take full responsibility for getting the grant of probate and dealing with the legal, tax (excluding VAT), property and estate administration affairs.
Where we are are being instructed by lay Executors, there will be a value factor charge of 0.5% of the value of any residence included in the Estate and 1% of the balance of the gross value of the Estate.
If we are acting as professional Executors then the value factor charge will be 0.75% of the value of any residence and 1.5% of the balance of the gross value of the Estate.
We anticipate this will take between 10 and 15 hours work at our rate of £210.00 per hour
Total costs estimated at £3,500.00- £5,000.00
The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
There may be income tax, capital gain tax and inheritance tax to pay in addition to the above. How much tax will be payable depends on the specific circumstances of your case, we will be able to discuss this with you and advise you once we are in receipt of all of the estate information.
On average, estates that fall within this range are dealt with within 6-12 months. Typically, obtaining the grant of probate takes 4-12 weeks. Collecting assets then follows, which can take between 2-6 weeks. Once this has been done, we can distribute the assets, which normally takes 2-4 weeks.
When someone dies, the law says that a person who was not adequately provided for by the deceased has up to six months from the date of the Grant of Representation to make a claim. The type of people who can claim are:
To comply with the law, we cannot pay your entitlement when there is a risk of someone making a claim, this may delay the distribution of the estate.
Fees will be collected from estate assets provided there are sufficient funds in the estate and pursuant to an account being rendered we will be able to exercise a lien over any papers or funds held, for unpaid costs and charge interest on all or part of any unpaid bill. If there are insufficient funds in the estate our fees and the disbursements will be payable by the person who has instructed us.
If the deceased was in receipt of income based benefits during their lifetime the Department for Work and Pensions may investigate their entitlement after probate or letters of administration has been granted. We will not be able to distribute the estate until the Department for Work and Pensions have concluded their investigation which may take several months, this is treated as a potential claim against the estate.
TOTAL: fixed fee of £795.00 for an exempt/excepted estate.
This includes: obtaining the grant only. You will need to collect in the assets and distributing them.
Breakdown of costs:
Disbursements:
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
As part of our fixed fee you must provide us with the date of death values of all assets held by the deceased at their date of death and all liabilities owed by them, we will:
Typically, obtaining the grant of probate takes 3 -10 weeks however it will depend on the circumstances of your matter.
