Dealing with a loved one’s death is one of life’s greatest challenges. Amidst the grief, there’s the added complexity of managing their estate (property, finances, and personal belongings) – a challenge often further compounded by misinformation surrounding wills, probate, and inheritance.

However, replacing these misconceptions with the truth can help you to navigate the process more effectively, and reduce stress and cost. Here are the five most common myths dispelled:

Myth: If you’re named in the Will, you automatically gain access to your inheritance.

Truth: In around 50% of cases, accessing inheritance requires a special court process called ‘probate’.

According to a recent study by My Probate Partner a company that helps people deal with probate in Scotland, 39% of Scottish people believe that all property and financial assets are automatically inherited by those named in the Will when the person making the Will  (the ‘testator’) dies.

The truth, however, is a little more complicated. Commonly, in order to deal with a person’s estate, the person nominated to do so in the Will, known as the ‘executor’, must apply for a grant of confirmation (Scottish probate). This legal process is often the only way to take action, with the responsibility for obtaining probate falling to the closest family member in the event that no will has been made.

The need to apply stands in stark contrast to the widespread belief, shared by 52% of people according to the same research, who believe that no planning must be done to deal with the finances of a family member at the end of life.

Myth: You always need a solicitor to go through probate.

Truth: In most cases, you can manage probate yourself. 

On the opposite end of the spectrum are those who believe it is mandatory to use a solicitor for probate. This is far from the case.

In as many as 90% of cases, probate can be dealt with without legal help, with families either dealing with things themselves or under the guidance of independent experts. If probate is required, it’s only when an estate is valued at over £250,000 and no Will has been made that a solicitor’s involvement is definitely required.

Myth: It won’t cost that much.

Truth: Underestimating probate costs is common. 

Cost is another thing that tends to catch people out. Indeed, My Probate Partner estimates that people using a solicitor under budget by thousands of pounds, with 55% believing it would cost less than £1000 to deal with the process, despite the fact that average fees actually range between £3000 and £5000, and often far exceed this if the estate is worth more than the average of around £270,000.

Cutting out the middleman and approaching probate without a lawyer can significantly reduce these costs – an imperative for those caught unawares by the additional expenditure. Those who feel less confident with the process can still seek expert guidance online for a much lower cost.

Myth: Working with a solicitor reduces stress.

Truth: Probate with a solicitor can be a lengthy and frustrating process. 

Even when cost doesn’t come into question, there can be a temptation to stick with a solicitor in order to reduce unnecessary stress. The issue is that most solicitors carry high caseloads, meaning it can often take 6-12 months for them to deal with probate. Communication issues are common, with clients often going for weeks without hearing anything.

DIY probate, whether embarked upon alone or with the help of online experts, takes much less time to complete, allowing those grieving to gain closure quicker and with less frustration.

Myth: A Will must be executed immediately.

Truth: There’s no legal obligation to execute a Will immediately after someone’s death.

People often believe that probate must be applied for immediately after a person’s death. However, there is actually no legal time limit for applying for probate in Scotland or England.

Having said that, any inheritance tax due will need to be paid within six months of the death or interest will start accruing, so it is often a good idea to act on a Will as soon as possible.

Completing the administration work may also help you to move forward and process the loss.

A clearer path 

Navigating the complexities of Wills, probate and inheritance requires clarity and understanding. By learning more about the probate process, individuals can approach the process with greater confidence and preparedness. Whether managing the estate independently or seeking guidance from professionals, informed decisions lead to smoother transitions and reduced stress during challenging times.

You can access a lot of free and paid-for support to help you deal with a death in Scotland by visiting: www.myprobatepartner.co.uk

Mike Davies, Founder and Director of My Probate Partner