We have all seen movies where the family has gathered for the reading of the will. In reality, this rarely happens and is simply a Hollywood fabrication. When someone dies it is important that their will is read straight away as it often contains information about their wishes for their funeral. Some people can leave very detailed descriptions of what they wish to happen at their funeral. The executor, the person who is responsible for arranging probate, will need to read the will. It is up to them whether they read the will to other people, or share the will around the family, however, they must share relevant information with pertinent people. If one person is organising the funeral, and the deceased wishes are in the will, then the executor must share this information. Likewise, they must inform the beneficiaries of the terms of the will.
What is Probate and Why is it Important?
After someone has passed away probate must be applied for, this is a legal document which gives you the authority to distribute the estate of the person who has died according to the instructions in the will. Once this is approved, it gives you access to the deceased bank accounts and assets, and then the estate administration can begin. This is when any debts are settled and any assets can be sold. Once everything is finalised the beneficiaries can receive their inheritance. This can take many months to resolve, especially when property is involved, and a house needs to be sold to liquidate the estate.
When and How Long After Death is a Will Read?
There is very rarely a formal will reading, such as seen in the movies. In reality, the executor will find the will as soon as possible after the death, in order to check if there are any specific requests regarding the funeral. The executor is the person responsible for dealing with the estate planning, and informing the beneficiaries of the inheritance of the deceased. They can share the entire will with others but are under no obligation to do so.
Roles and Responsibilities: Executors, Beneficiaries, and Interested Parties
Who Can Read the Will?
The executor is the person who is responsible for carrying out the wishes in the will and administrating the estate. They can read the will and should inform any beneficiaries. Once probate has been granted, the will then becomes public and can be read by anyone.
Duties of Executor
The executor is responsible for administrating the estate. This can be a complex and difficult task, however, you can hire a probate solicitor to carry out this work on your behalf. Administrating the estate will involve, gathering the paperwork for the assets, calculating the value of the estate, paying the inheritance tax, notifying and distributing inheritance to the beneficiaries, and completing accounts to show how the estate has been settled.
Notifying Beneficiaries
In general, the executor will read the will shortly after the death, so that they make sure any instructions regarding the funeral are followed. At this point, they can then let the beneficiaries know what their inheritance will be. Remember though, that it can take some time for the estate to be settled, so the inheritance will take many months to come through.
The Timeline of the Probate Process
Generally, it takes around a year to settle an estate, though obviously, this will vary depending on how complex the estate is. In the first month, the executor will start applying to get a grant of representation. It then takes 3 to 6 months to collate all the financial information and value the estate. After this the inheritance tax can be finalised, and all the paperwork necessary for the court application. After this time you should receive the grant of administration, and this can then be sent to the banks, which allows access to the money. At this point, you can begin to give inheritance to the beneficiaries. However, it is necessary to wait for a few months, to ensure that no claims are bought against the estate. Claims can be made for 6 months. So after this time has elapsed then the estate can be fully settled. This usually takes around a year.
Contesting a Will: When and How Can It Be Done?
If you wish to contest a will, then it is important to do so quickly. While it is possible to contest a will after probate and after the inheritance has been dispersed, it is far more difficult. If you wish to contest a will seek legal advice immediately as it is a tricky situation that needs to be handled professionally and swiftly. You can contest a will if you have grounds to do so, such as believing that the deceased was not of sound mind, or that they were coerced when they wrote their will.
Accessing and Managing the Will Before and During Probate
After someone has passed away always check for a will. If your loved one did not leave a will, then their assets will be distributed under intestacy rules. The will must remain with the executor so that they can administer the estate according to the wishes of the deceased. Remember that probate is not always required, for instance, if the value of the estate is low, or any assets are jointly owned. Once probate has been granted then the will becomes publicly available.
Dealing With the Death and Will of a Loved One is Hard
At NC Funerals, we understand that dealing with the death of a loved one is hard. That is why our family is here to support your family during these dark times. We will support and advise you on planning a funeral for your loved one so that your family and friends can come together to celebrate their life and mourn their passing. Whether you want a traditional church burial service, a crematorium service, or a highly personal and bespoke service we are here to help you. We understand that a funeral is a reflection of life, so we will support you in creating the ideal service to represent the life of your loved one. Speak to the compassionate and knowledgeable team at NC Funeral Directors today, on 01253 420 450