Estate Administration

Dealing with bereavement can be one of the most difficult times in a person’s life. For many, it can be also be a stressful and time-consuming procedure administering the estate.  What sets our department apart is that we deal with all aspects of an estate (including dealing with any conveyancing, preparing estate accounts, calculating Income, Capital Gains and Inheritance Tax etc.) ‘under one roof’, making the overall process easier, more streamlined and cheaper for our clients.

• When someone dies and leaves a valid Will, they will have appointed executors to oversee their estate. It is the executors’ responsibility to apply for Probate, cash in the assets and settle any liabilities. It may also be necessary to account to HMRC for any inheritance tax or other taxes which may be due. When this has been done, any remaining assets can be distributed in accordance with the Will.
• If an individual named as an executor does not wish to take on this responsibility, it is important they make this clear at an early stage.  Once an executor has begun administering the estate, they are obliged to complete the administration in full.
• If someone dies without making a Will, the law sets out how the estate should be distributed to the family and who is responsible for managing their finances. This is called intestacy and, instead of executors, the Court will appoint administrators to deal with the estate.
• Being an executor or administrator can be an onerous task; not only are they are responsible for dealing with any challenges against the Will by disappointed beneficiaries, but also if matters are dealt with incorrectly, it could lead to a claim against the estate, or the executors/administrators personally.