It is common knowledge that nobody lives forever and as a result, many people plan for death. This is especially key if you have predecessors as well as assets and wealth that you want to allocate to them. One of the most common ways that you would do this is by legally drafting a will. Inside of this will there are often specific people who have been allocated what the deceased has left behind which is commonly known as an inheritance. In order to obtain what has been left for you, there is often a process that you have to follow. On that note, this guide is going to tell you how claiming inheritance works.
Get a Copy of the Will
Another practical thing you should do when claiming an inheritance is getting an actual copy of the will. This is critical as it proves that you’re a beneficiary in what has been left behind which is key if anything is to be released to you. This is also critical in the case that someone wants to dispute your inheritance, so find a way to get a copy of the will and keep it safe. Aside from the will, before you can claim your inheritance you will also need the successor trustee to take inventory of the descendant’s documents and assets, calculate the value of the assets, pay the descendants final bills, and pay applicable taxes before the rest can be distributed to yourself as well as other beneficiaries.
Hire a Good Solicitor
When it comes to claiming an inheritance, having the right legal team on ground is key. They can help you file an entry appearance with the clerk of the court which tells the attorney who is handling the will, estate, or trust that you have an interest in any future proceedings. Getting a solicitor is especially important as situations may arise where someone tries to invalidate the will and you’ll need professionals such as The Inheritance Experts to help resolve the matter. For this reason, you should hire a good solicitor who has a decent level of expertise handling such cases and can help with any legal proceedings.
Claim it in Good Time
The timeframe in which you claim an inheritance is also very important. Ideally, you want to do it as early as possible to avoid the issue of people contesting the will. Legally, disinherited heirs-at-law such as those who are closely related and would have received part of the inheritance if the deceased died without a will, as well as people who were in a prior will, are able to contest a will. However, if you claim early enough, you may be able to avoid that process which can be long and tedious.
A loved one passing away can be a devastating experience, however, knowing they left something behind for you can be heart-warming. It is imperative that you take the right steps to ensure that you receive everything that was left for you.