What To Expect When Going Through Probate with Jade Gani from Circe Law (Podcast)

In episode 1 of Levels new podcast series, Jade Gani, Founder & CEO at Circe Law talks us through what to expect when going through the probate process.

Jade answers questions on a number of topics around Probate and Estate Administration,  including:

What is Probate and why do I need it?

Probate is a legal certificate that identifies who is responsible for managing someone’s estate after they pass. You may not need probate if assets are jointly owned or left to a spouse, but it’s required for specific assets like property owned as tenants in common, stocks, or savings accounts.

What are the first steps to take when someone passes away?

Focus on arranging the funeral, as it’s an essential part of grieving. Meanwhile, a solicitor can help by gathering financial information, locating the will, and preparing the necessary inheritance tax forms.

How long does the probate process take?

Due to delays, the process can extend to 22 weeks. This wait can cause significant challenges for executors and beneficiaries, such as delays in property sales or financial hardships.

What should you consider before accepting the role of executor?

Executors are responsible for managing the estate, paying taxes, and distributing assets. The role comes with significant responsibility and potential liability, especially if disputes arise. Executors can hire professionals to assist with or take over the administration.

How can Level help?

Level offer funding for Estate Administration & Inheritance tax. This can help to leverage the assets within an estate in order to fund testamentary expenses and/or inheritance tax which the Executor may be liable to pay before distribution of the estate to beneficiaries.

Get in touch with us to speak with one of our in-house funding experts who can assess if we are able to assist.

An indication of funding is free of charge, and we have a number of partners who may be able to assist if we are not.