Wills and Probate: Frequently Asked Questions

What is an estate made up of?

The ‘estate’ is the name given to your assets, from your car to your property. Once you die, any debts and liabilities will be taken away from your ‘gross estate’; the remaining will be known as your ‘net estate’.

Estates usually include the following:

• Property

• Bank accounts

• Investments

• Household contents

• Digital assets

• Books

• Art

• Cars.

Any assets that are jointly owned will not be included in your estate, as these will automatically pass to the survivor.

What is the administrator of an estate?

The administrator or executor of an estate is the person(s) responsible for administering and distributing your estate, including communicating with beneficiaries, paying any debts and taxes, and collecting assets.

An executor is appointed by the deceased in their Will.

An administrator is appointed by the court of protection according to their relationship with the deceased. This is usually in the case of a person dying intestate, or if the executor is unwilling or unable to administer the estate.

Can a Will be contested?

Yes, and the main reasons for contesting a will are the following:

• Lack of due execution

• Lack of knowledge and approval

• Lack of testamentary capacity

• Undue coercion.

What happens to the debts of the deceased?

A person’s debts will be paid by the executor from the value of their estate.

Can an executor or administrator be held liable?

Yes, if any mistakes are made during the process of probate, you will be held personally liable. This is why it is recommended to seek legal assistance when administering an estate.

Is my overseas property covered in my Will?

Dividing your assets in the UK is usually quite straightforward, but it can quickly become complex if overseas assets or property are involved. You may have to ensure your will is valid for other countries, taking into consideration those countries’ laws. We advise you to speak to one our specialists to discuss your individual circumstances. 

Why should I make a Will when I become a parent?

The main reason for writing a will as soon as you become a parent is for the peace of mind that your child or children will be well looked after in the event of your death. Many parents make wills to ensure their wishes are met regarding their children’s futures.

We recommend considering the following if you are a parent writing a Will:

• Who would you want to be the guardian of your children until they are 18?

• Who should receive money and property?

• Who will manage any trusts you set up until your beneficiaries are old enough to manage their own affairs?

If you die without a will in place – otherwise known as ‘dying intestate’ – your estate will be distributed according to intestacy laws. Step-children will not automatically inherit your estate, as the rules are considered outdated and only take into account next of kin.

This could cause hardship and family disputes in the future, so it’s important to make your wishes known while you can. Speak to a member of team to assist.