Estate Administration / applying for Probate
When a person dies, somebody has to deal with their money, property or other assets. This is known as estate administration, or “applying for Probate”. Much of the process depends upon whether the person who has died had a valid Will.
If the person who has died leaves a will
If a person dies having made a valid Will, then they will have appointed one or more 'executors' to deal with their affairs after their death. The executor is responsible for carrying out the steps necessary to carry out the wishes expressed in that Will. This can include:
- Arranging a funeral
- Ascertaining what money, property or other assets the person had
- Confirming what debts or liabilities the person had
- Submission of tax forms to the Revenue and arranging the payment of any Inheritance Tax
- Applying for the 'grant of probate' (This is the legal document which confirms that the executor has the authority to deal with the deceased person's assets).
- Collecting in all assets and paying all liabilities
- Preparing accounts and issuing distributions to the beneficiaries of the Will
Whilst this is not an exhaustive list of the steps involved, it shows the basic outline of the process required in the administration of a person’s estate. There are many complex rules to be followed, and our expert team can advise and assist you in all aspects of the administration of a person’s estate, and in maximising its value by applying all relevant tax benefits.
If the person who has died didn't leave a will
If there is no will, it will be the responsibility of either a close family member or a beneficiary of the estate to apply for a 'grant of letters of administration'. Similar to a Grant of Probate, this legal document authorises the Administrator to deal with the deceased person's assets. Similar steps need to be taken to those outlined above, but it will be necessary to follow the strict intestacy rules on the distribution of assets after a person has died without a Will. These can be complex and confusing.
How we can help
Responsibility
The administration of a person’s estate after they have died is a matter of personal responsibility on the Executors/Administrators. By taking on the role, they become personally liable and responsible for the correct administration of the estate, including the payment of all taxes and liabilities, the accounting for all assets and the correct payments to all beneficiaries. This is a very onerous burden on an individual. We have a dedicated team of experts who can relieve you of that responsibility, by taking on the administration of all aspects of a person’s estate.
Grief & Personal Loss
Losing a loved one is a stressful time in itself, without having to worry about legal matters. It can be confusing if you have been left to deal with the legal issues relating to the financial affairs of someone who has died. The process can be long and complicated, depending on the nature of that person’s assets and where they are situated. By putting the legal issues into the hands of our expert team, you are then able to focus on dealing with the other stresses and strains the loss of a loved one can bring.
For further information on probate and estate administration, please contact Chris Strange by emailing Chris or by calling him on 08450 990045, or speak to your usual contact in the Wills, Trust and Probate Team.