Probate and Estate Administration
Probate and Estate Administration
In the event of someone's death it is down to another nominated person to administer their estate. This estate is made up of all the property and possessions owned by the person at the time of their death. Probate involves collecting any money that is owed, settling any debts and dividing the estate amongst the relevant beneficiaries.
All assets will remain frozen, until authority (Grant of Representation) is given to the people or person responsible for administering the estate (the Executor). If you have no Will then the responsibility of Executor will pass on to an appropriate family member or an independent representative, such as a solicitor.
If there is no Will then the rules of Intestacy will apply.
It is advised that the Executor seeks help from a solicitor to carry out their duties. We are able to offer you guidance throughout the process, including preparing the Grant of Representation, collection of Monies and determining the size of the estate with respect to Inheritance Tax.
Tax and inheritance planning
With a rise in property prices over the past decade many more people are subject to Inheritance Tax than before. Contact us and we will examine your circumstances to see if you could benefit from Inheritance Tax planning to save your loved ones money.
