Estate administration
Upon the death of a relative, administering their estate is an important step to undertake. In some circumstances, this is more difficult because there is no Will or it is somehow invalid. We can guide you through what the right steps are. This process is commonly known as ‘probate’.
When a death happens, the assets of the deceased are distributed. This is made simple where a well drafted and up-to-date Will is in place. Where there is no Will or what is drafted is not legally valid, this requires an administrator. Often, this is the next of kin. If this is you, you are required to distribute the assets in accordance with the relevant laws.
We advise you how to do this and in some circumstances you may ask us to act as the estate administrator. Whatever your situation, we can guide you through the process. We keep things simple. We promise to keep in regular contact with you and will always use plain English.
Whatever the type of Estate there are several basic steps involved, namely:
- Identifying and valuing assets and liabilities
- Preparing and submitting the application for the Grant of Representation and the supporting HMRC Forms
- Collecting in and realising into cash the assets of the Estate
- Paying all debts and liabilities (including Inheritance Tax where applicable)
- Paying legacies or transferring specific items to Beneficiaries
- Preparing Estate Accounts and distributing the Estate to the Residuary Beneficiaries.
To see our fee breakdown based on the above, please click here.
Sometimes Estates involve other steps which we can also deal with, but these would involve additional costs to those outlined above. Such matters include preparing a Deed of Variation to rearrange the distribution, addressing an investigation by the Department for Works & Pensions, or dealing with Income Tax Returns.
If you need support administering an estate and you are not sure what to do contact Mewies Solicitors. Call us today on 01756 799000.
