Wills & Probate
JMS Wills & Probate Solicitors, Greater Manchester
JMS are a firm of solicitors based in Manchester, UK. If you are looking for a solicitor to help prepare a Will, or to make sense of and deal with Probate, or you need advice on a particular aspect of Wills and Probate Law then we are here to help.
Contact us today on
Freephone 0800 781 7057
During what is often a difficult time for our clients, we are able to combine our experience and detailed knowledge with an understanding of the pressures particular to Wills and Probate law. In every case we focus on providing clients with permanent solutions in a constructive and cost effective manner.
Our solicitors have a wide range of knowledge and experience in dealing with Wills and Probate.
Wills
It is always advisable to have a valid Will to ensure that your wishes are followed after your death. If you are married or in a relationship it is beneficial to you and your family for you to have prepared a Will. A Will is used to state your wishes after you have passed away and so is there to provide you with peace of mind that your money and other assets will be distributed as you wish and that your dependents will be taken care of. If you do not have a Will your assets will be divided according to the Rules of Intestacy
JMS experienced Wills and Probate Solicitors are here to offer constructive advice on every aspect of preparing your Will and to help you to make informed decisions in relation to your property and assets. Our staff will help you to draw up your Will making sure that provision is made for all the people important to you, advise you on your assets to ensure protection of your wealth and arrange for your Will to be signed. Where appropriate we will always recommend that you take independent financial advice before we prepare your Will.
Probate
The process of dividing a person's estate after their death is known as Probate. In this area JMS are able to offer a assistance according to your needs and individual circumstances. Our service includes advice on Inheritance Tax and the Transfer of Property.
Please call JMS now on Freephone 0800 781 7057 for a consultation with one of our experienced Wills and Probate Law Solicitors. Alternatively for more information about the full range of our services please continue to browse our site.
frequently asked questions
Wills & Probate – Frequently Asked Questions
JMS Solicitors based in Greater Manchester are here to provide you with information about all aspects of the law including Wills, Probate, Inheritance and Tax.
Wills
Why do I need a will?
You need a will if:
- You are in a marriage or a relationship. Your whole estate will not necessarily automatically pass to your spouse or partner upon death and depending on your circumstances, other members of the family could be entitled to make a claim against your estate
- You have children under the age of 18 the authorities may appoint a guardian you would not have chosen for them. You can use your Will to state YOUR wishes.
- You have assets in your name only. When you die your assets will be frozen until the completion of the administration of your estate, which could take months or even years and, could lead to financial difficulties for those your care about.
By having a will you can be assured that after your death your estate will be distributed in accordance with your wishes.If there is no will, JMS will be able to advise and assist on taking the appropriate course of action.
Probate
What is Probate?
A Grant of Probate is an order of the Court giving one or more people the authority to administer the Estate of the deceased in order to distribute the Estate to the beneficiaries.
When is Probate necessary?
Probate is needed when:
- The deceased has investments in their sole name such as Stocks, Shares or Insurance Policies. Financial institutions, banks, building societies typically holding such assets ask for a Grant of Probate to be produced before they will release funds.
- The deceased owned Property in their sole name and a Transfer of Property is required or it is to be sold.
Depending on your own circumstances, JMS offer various levels of assistance from giving advice on Probate, Inheritance Tax and Property transfer.
What happens to my house?
Joint assets
Where you and your partner have a joint legal interest in a property your share passes to them on your death. Where a property is owned by more than 2 owners, the death of one joint owner causes that share to pass equally to the remaining joint owners automatically (not withstanding what the Will says)
Joint assets are still subject to Inheritance Tax (IHT).
What happens to outstanding debt?
All debts (including loans to family members) must be identified.
All creditors must be informed in writing of the following:
- Full details of the executor or administrator
- when the Grant is expected to be issued
- when repayment is expected to be made.
Upon issue of the Grant the debt incurring interest will be repaid first and thereafter the frozen debt is repaid.
How is the estate distributed?
Once a Grant of Representation has been granted, all bank accounts have been closed, all property has been sold or transferred, all debts & taxes have been paid and the Estate Accounts have been made, then the estate may be Distributed to the Beneficiaries in accordance with the Will or intestacy rules (where there is no will in place)
If any Beneficiary is an undischarged Bankrupt it must be considered before funds are distributed to that beneficiary.
What is Capital Gain Tax?
There may be Capital Gains Tax arising during a person’s lifetime or the period of Administration of the estate.
Capital Gains Tax is where an asset valued at death (for example a property or shares) has increased in valued by the time of sale or disposal. However there are 'elections' which can be made (depending upon the asset involved) in order to mitigate such tax.
What is Inheritance Tax(IHT)?
Inheritance Tax is the tax that is paid on the deceased's 'estate'. This is everything the deceased owned at the time of their death, less what they owed. It's also sometimes payable on assets the deceased may have given away during their lifetime. Assets include things like property, possessions, money and investments.
Not everyone pays IHT and there are some exemptions, JMS will be able to advise you on this matter.
Rules of intestacy
For a consultation with one of our Wills and Probate solicitors please call us on Freephone 0800 781 7057. Alternative ways in which to contact us can be found on our contact page.
news
Plan to end ‘gold digger’ divorces
ONE of Britain’s leading family lawyers, Baroness Deech, says that assets built up before a marriage should be excluded from divorce settlements.
Deech, the chairwoman of the Bar Standards Board, said the country should adopt European-style divorce laws to bring an end to bitter and expensive legal battles and to deter “gold diggers” from marrying for money.
Under the proposed overhaul, only assets — including cash and property —acquired during the marriage would be subject to the divorce settlement.
£100m heiress Katrin Radmacher in Supreme Court prenuptial battle
A former City banker turned biotechnology researcher faces financial ruin if his former wife wins her battle to bind him to a prenuptial contract, the Supreme Court was told yesterday.
Nicolas Granatino is challenging his £1 million divorce settlement with Katrin Radmacher, a German heiress said to be worth £100 million.
The case before nine Supreme Court justices will determine if divorcing couples in England and Wales should be bound by pre-marriage agreements on how their assets will be split.
Marco Pierre White challenge could change divorce battles for ever
Take one celebrity chef, separate him from his wife, sprinkle with allegations of intercepted letters, simmer and serve with a landmark ruling.
Marco Pierre White, the former Michelin-starred chef and television presenter, is pursuing his estranged wife’s lawyers in a test case that could change for ever the way that divorce battles are fought. Family lawyers warn that the chef’s lawsuit could end the practice by spouses of turning detective to unearth evidence.
Unmarried couples need new legal rights, says reform judge
Two million unmarried couples need new legal rights to protect them from injustice if they separate, the new senior judge in charge of law reform has said.
In many cases long-term partners cannot be adequately protected by existing laws, according to Lord Justice Munby, chairman of the Law Commission. It was time that the law was brought up to date with changes in society. “It is a fact that the number of people marrying today is less than it has been for over 100 years,” he said.
Former ICI chairman wins right to evict ex-wife from £14m Chelsea home
former chairman of ICI has won a court battle to evict his ex-wife from their “super-prime” £14 million Chelsea home so that he can sell it.
The Court of Appeal accepted that Charles Miller Smith was “haemorrhaging money” on the southwest London property and could not be expected to keep up monthly mortgage payments of £27,000.
The three judges gave Debjani Miller Smith, 44, three months to leave the home in Egerton Terrace that she jointly owned with her former husband.
Woman left broke by divorce payout takes fight to Supreme Court
A British woman left almost penniless by divorce goes to the Supreme Court this week in a case that will test London’s reputation as the divorce capital of the world.
Sikirat Agbaje, 68, is challenging a divorce award made in her native Nigeria and upheld by the Court of Appeal in London that left her with just under £7,000.
Her former husband, Olusola, 71, a barrister to whom she was married for 40 years, took £616,000, including two properties in London.
Wife of property tycoon, Scot Young, ordered to leave rented house
A woman at the centre of a £400 million divorce case has been given six weeks to leave her home.
Michelle Young told Central London County Court yesterday that her estranged husband, the property tycoon Scot Young, said that the rent had been paid until December. However, the court heard that no rent was paid and since July 23 this year she owed £24,000 for the property in Regent’s Park Terrace, London.
£400m husband may have faked a breakdown, divorce court told
A businessman ordered by a court to explain the disappearance of his alleged £400 million fortune after his wife filed for divorce may have faked a mental breakdown to escape jail, the High Court was told yesterday.
Scot Young had been ordered to provide full disclosure of his finances or be sent to prison for six months. That deadline expired on September 7 without Mr Young giving the information required.
Former investment banker William Murphy wins bigger share of divorce payout
A former investment banker has succeeded in winning a bigger divorce settlement after appealing against a ruling in which his wife was awarded 65 per cent of their joint assets.
Former investment banker William Murphy wins bigger share of divorce payout
A former investment banker has succeeded in winning a bigger divorce settlement after appealing against a ruling in which his wife was awarded 65 per cent of their joint assets.