Paperwork in Order – What can you do? The need to keep your paperwork in order cannot be understated. Laura Richardson explains more in her latest article for you . . .
After you die, your Will is just one of the important documents that emphasises the need to keep paperwork in order that would need to be located by your Executor in order to properly administer your Estate. This is especially important if your death would result in the need for your Executor to sell your property.
As someone in the process of moving house from Braintree to a small nearby village, I have had to produce numerous documents to satisfy our buyers’ Solicitors. Thankfully I was able to locate all of the relevant documents in order to produce evidence and answer queries regarding the sale of my property. However, it has not been so simple regarding the property that I am purchasing. The property that I am purchasing is a probate sale. Therefore, the process is being undertaken by the Executor of the deceased owner of the property. Although the Executor was related to the deceased, they lived in different areas of the country and, therefore, the Executor’s knowledge of the property was minimal. Many of the standard inquiries that have been passed to the Executor have been unable to be answered in full, or have been unable to be evidenced through the relevant paperwork. At a time when the Executor is grieving the loss of her relation, she is also having the stressful task of trying to locate missing paperwork in order to be able to complete the sale of the property.
As well as the additional stress and time it can take to locate missing documents without paperwork in order, it is important to note that in some cases where paperwork cannot be located, it may be necessary to apply for copy documentation, provide insurances for any missing planning paperwork, carry out additional servicing, for example, for a boiler or central heating system, or even reduce the sale price of the property, all of which can delay the sale process as well as additional costs to the process. As all costs pertaining to the sale of the deceased’s property are paid for out of the deceased’s Estate, any additional costs would mean that there would be less for any beneficiaries to inherit.
Securely and systematically filing important paperwork in order can, therefore, be extremely useful to your Executor as well as your beneficiaries following your death. It is also advisable to consider professional storage of certain important documents in order to ensure that should the worst happen, these documents would not only be safe but also be easily accessible to your Executor following your death. Andrew Douglas Wills and Legal Services offer several document storage options to suit your requirements and budget. Therefore if you would like to discuss the secure storage of your Will and other important documents, contact Andrew Douglas Wills and Legal Services today to arrange your free initial consultation, whether you are in Braintree or the surrounding areas of Essex.
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