Do you have the time & skills to apply for probate and administer an estate?

In order to answer this question in the first place you must be named as an executor in the will. If you have not been named, or the will does not contain the name of an executor that can perform this function, then you must be a relative or spouse of the deceased.
 
If you are asked to act as an executor then it’s essential you are comfortable with the position. Many people ask themselves whether they have the skills and the time required to fulfil their duties.
 
To apply for probate there are a number of forms that need to be completed and submitted to the Probate Registry.  This part of the process is relatively straightforward and so long as you are equipped with some basic form filling skills you should have no problems.  The real question is whether or not you can manage the process once you have received the Grant of Probate which allows you to administer the estate.
 
There are many complex aspects to this part of the process and the single overarching factor involved is time. Obviously each case is unique and there are many simple estates with a small amount of assets and few beneficiaries.
 
These will take less time to manage than a more complex estate, but if you are the type of person who leads a busy life, and time is at a premium for you, then you may not have the freedom required to apply for probate. Before you embark on the process you must have a clear timetable and ensure that you will be able to commit the required number of hours to the process to see it through.
 
In addition to good time management there are many other skills that you are required to have. You will need to be disciplined about completing and storing documentation and have the ability to communicate with all of the stakeholders involved.
 
Money management skills are imperative as you may have to deal with lots of different banks, building societies, insurance companies, mortgage lenders and realtors as part of the process.
 
Sometimes, the best thing to do is get some professional advice and find a service that will handle the process for you. There are many alternatives to choose from and if you would like some advice on how to apply call free on 0800 612 6105 for further information.

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