Probate is the process of dealing with the estate of someone who has died, which generally means clearing their debts and distributing their assets in accordance to their will.
Im sure many people have heard about inheritance Tax this is where this calculation is made. The probate process typically take 2-3 months However, it can take longer depending on the complexity of the estate being dealt with. In many cases, it can be many months to even be in a position to apply for a Grant of Probate.
Family may need to then raise funds for Inheritance tax implications before the estate can then be distributed.
Life Insurance would for part of this estate clearly the life insurance is often designed to give family stability at a very difficult time - waiting months for Probate to be agreed can be more than stressful for the family.
If however we have created "Trust" for our life insurance it places the protection outside of Probate. Releasing the funds (with ZERO inheritance tax implications) for a speedier, more fluid and costs effective release of funds whilst the rest of the estate applies and resolves probate.
Golden Rock Solutions not only searches for the best protection for family; but will work with family to ensure the protection is placed into to trust for FREE. This means that if their is a claim the process can be as smooth as possible.
