Omnium Wealth Management

One in three people underestimate the wait for inheritance

A survey of 2,000 adults conducted by Co-op Legal Services found that more than one third (37%) expected to wait between four to six months to receive their inheritance following the death of a loved one.

The reality is somewhat different, since the average time it takes to administer a deceased’s estate is around 11 months. Depending on circumstances, probate – the legal process involved in dealing with the property, money and possessions of a person who has died – can take as little as 60 days in simple cases or up to eight-and-a-half years in more complicated situations.

Gavin Holt, Head of Probate at Co-op Legal Services, said: “Whether you’re an executor named in a will, or the next of kin in the absence of a will, dealing with the estate of a loved one can be difficult. It’s not something that comes around very often and many people don’t know where to begin.”

“As with all legal work, it’s very important to get the probate right and, a lot of peace of mind can come from handing the process over to an expert to sort out.”

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To talk to us about planning your estate, call us on 01483 205890.

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