Probate
What is probate?
When a person dies leaving a Will, the executors (those people nominated by the deceased to deal with their assets) will need to apply for probate. This is the name given to the official form which authorises the Executors to carry out their function.
Institutions such as banks and building societies will often need to see a copy of this form before they will allow the Executors to manage a person's assets.
What if someone dies without making a will?
That person is described as having died intestate. Instead of the executors of a Will applying for probate, someone, (usually the next of kin), will need to apply for what is known as the 'letters of administration.' This is similar to probate and allows them to carry out the same procedures as an Executor.
What happens once I have obtained probate/ letters of adminstration?
Once you have received the necessary paperwork you will then be able to set about administering a person's assets and paying any left over debts (eg funeral expenses, tax etc) they may have out of their estate.
Corlett Bolton & Co recognises that a person applying either for probate or letters of adminstration often has to battle grief at the same time as getting to grips with what can seem like a daunting legal process.
We offer our clients a supportive and caring service. At Corlett Bolton we are always there to offer advice and reassurance to assist you every step of the way. Our service is flexible. You decide our level of input - whether it is simply drafting the necessary forms or as much as carrying out the entire administration of the estate.
In addition to providing probate services to Manx residents, we regularly provide similar services for people who have died outside the Island, but who have left assets (eg investments, bank accounts etc) in the Isle of Man.
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