‘Probate’ is the term commonly used when talking about applying for the right to deal with a deceased person’s estate.

The administration of an estate is usually dealt with by the executors named in a Will, and the grant of representation issued by the Probate Registry following an application is called a Grant of Probate.

If a deceased person doesn\’t leave a Will, a statutory order of priority exists which sets out who can apply as an administrator of the estate. In this case, the document issued is called a Grant of Letters of Administration.

If there is a valid Will but no executor to obtain probate, an application can be made for a Grant of Letters of Administration with Will Annexed.

The estate administration process and the complexity of it will vary according to the assets in the estate and the terms of the Will. It can be a sensitive and difficult time for the executors, but our highly skilled team is able to assist with all aspects of the administration of an estate, and can provide as much or as little help as required.

We are often included in Wills to act as executors either in place of or together with family members or friends. If this is something you are interested in, rest assured that as well as experience, we can offer impartiality when it comes to administering your estate.

If you are a beneficiary, we can advise in relation to the estate in which you have an interest. For example, you may have questions about how the estate is being administered by someone else. We also act for beneficiaries and executors where disputes in relation to Wills or claims against an estate arise.

Estate administration

The process of administering an estate can include some or all of the following:

– registering the death and organising the funeral

– identifying and valuing the assets and liabilities of the estate

– finding all the beneficiaries named in the Will or, those that benefit under intestacy rules, if there is no Will

– correctly calculating and arranging payment of any inheritance tax, capital gains tax or income tax liabilities arising on death or during the administration period, including submitting the appropriate tax returns

– applying for a grant of representation to the Probate Registry (by the executors or administrators)

– encashing assets and paying all liabilities and estate administration expenses

– paying all legacies, including interest where it applies

– preparing estate accounts

– transferring property or distributing assets to the beneficiaries or to the trustees where the Will contains trust provisions

If you are an executor, the amount of help you want or need to administer an estate will depend on a number of factors, from the complexity of the estate to the time you have available to perform your duties.

Things could be very straightforward, and you may need nothing more than some initial advice or help obtain the grant of representation.

Alternatively, you may want to hand over the entire process of administering the estate from start to finish.

For further information on this topic please visit a solicitors crawley to read more on this.

You can find out more by taking a look at our website: http://www.asb-law.com

Author Bio: For further information on this topic please visit a solicitors crawley to read more on this.

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