It may seem impossible to imagine how difficult it can be to leave everything you’ve worked so hard to pass on to your family when you die without a will in place. The reality is that when you die, your entire estate is subject to the laws and principles of probate. Probate involves the processing of your Last Will and Testament – your last statement explaining who you want to receive money from, if anything at all. In short, your Last Will and Testament serve as your estate plan. Unless your last will and testament are completely inconsistent with probate law, your entire estate will be subject to the laws of probate.
What happens to your home if you die without a will in place? Your estate will be subject to the state probate laws of your country. Your death will be registered and your assets will pass through the probate system. You can prevent this from happening by drawing up a will with a professional Wills Cheltenham company such as Bees and Co confirming what your wishes are.
Once your notification has been filed, your estate will be subject to the probate process. Your estate will be responsible for filing all required paperwork and reporting any changes to beneficiaries. Your beneficiaries will then be able to claim their inheritance from the Estate of Will. This process can take many months and will often be extremely expensive. If your home is part of your family, however, probate can be an unpleasant process that you don’t want to have to go through.