It has been reported in The Independent newspaper that under the terms of a legal settlement struck in 2017, 40 law firms are barred from bringing any new claims against...Read more
Losing a loved one is always going to be an incredibly difficult time. If you also have the responsibility for administering their estate while mourning your loss, it can be particularly stressful.
Applying for Probate and dealing with an estate can take a long time and it can sometimes be complex. While you can do it yourself, many people ask a specialist solicitor to do the work on their behalf.
This is particularly useful if there are complicated circumstances or family situations, such as significant personal injury compensation involved, overseas assets or life changes such as separation or divorce.
If you have been appointed as the executor of an estate, our specialist Wills, trusts and estate planning team can provide expert insight and guide you throughout the process.
We can help you:
- Understand the requirements of the Will
- Give you advice if there is no Will (known as intestacy)
- Advise you on how to apply for and obtain a Grant of Probate or Letters of Administration
- Help you negotiate your way through the complexities of Inheritance Tax and Capital Gains Tax
- Assist with distributing the estate in accordance with the terms of the Will
Whatever your situation, we offer a flexible approach. We can deal with all the estate administration or we can just take on certain parts to lighten your workload.
Our expert team are members of the Society of Trust & Estate Practitioners (STEP) and Solicitors for the Elderly (SFE). We have experience in dealing with a range of matters, from simple estates to the more complex involving business and agricultural property relief, overseas property, charitable beneficiaries and tax issues involving HMRC.
What does the administration of an estate involve?
Administering an estate is the legal process of dealing with a person’s estate after they have died. It involves implementing the terms of the Will or distributing the estate in accordance with the Intestacy Rules if there is no Will.
It includes all the work involved in obtaining the Grant of Probate (the legal paperwork that is required to be able to deal with the assets of the deceased), but also includes preliminary work such as securing the assets, identifying the beneficiaries of the estate and valuing the estate.
Once the Grant has been obtained, it gives authority to the person named in the Grant, usually known as the executor, to collect all the funds in the estate, pay any debts and then distribute the rest of the estate in accordance with the Will.
How much does it cost?
We are open and upfront about the costs of our probate and estate administration services right from the start. The cost is usually calculated based on the amount of work involved and the time it takes to deal with the estate, including resolving any complex issues. Alternatively, in some cases, we may be able to agree a fixed fee basis at the outset. Every case is different, and we will tailor our service to meet your individual needs. To find out more about costs, timescales and the work involved depending on the size of the estate, click here.
How long will it take?
Every case is different but if the estate is simple without any property involved, it can take between six and 12 months to fully complete the whole estate administration. A medium-sized estate which includes property and several other assets can take between one and two years to fully complete the administration while a larger estate involving property, trusts and complex tax issues can take more than two years.
To find out more information on our probate and estate administration services or to make an appointment to see us, call Freephone 0800 884 0777 or complete our form.