Britons 'in the dark' over probate

Wednesday, 01 December 2010 12:00

Britons are confused about probate, with new research showing more than a quarter of adults (28 per cent) are not even sure what the word means.

The Red Tape of Death survey from probatesupermarket.com shows even among those who experienced the loss of a relative in the past 12 months, only 17 per cent were confident they knew what probate entails.

According to government information, probate refers to the process of applying to deal with a person's estate after they pass away.

Follow this link to download a free advice guide from probatesupermarket.com

In many cases, an executor named in a will has to apply for a grant of probate, a legal document that gives them the authority to deal with the deceased's assets, such as property or savings.

The survey showed that 72 per cent of people said they dread the prospect of having to deal with probate.

Furthermore, almost 70 per cent failed to correctly identify the inheritance tax exemption of £325,000 per individual.

Commenting on the findings, probatesupermarket.com managing director Peter Spillman said: "The decision to undertake the probate process yourself should not be taken lightly.

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