When someone close to you dies, somebody has to deal with their estate. A person's estate is considered to be made up of the money, property and any possessions they had at the time of their death. The process of Probate involves collecting any money that is owed, settling any debts due (including outstanding taxes) and dividing the estate amongst the respective beneficiaries.
All assets (including property) in an estate will usually remain frozen, until the Probate Registry gives the authority (via a document know as a Grant of Representation) to the executor nominated in the Will . If there is no Will, then there are rules on who is entitled to act as the “administrator” on behalf of the estate.
If there is a Will, the estate will pass to the people named in the Will. If there is no Will certain rules, known as the intestacy rules, will apply and will specify how the estate is to be divided.
Whether you are an executor, administrator, beneficiary or next of kin, we can provide practical guidance to help you deal with the administration of someone's estate. We can help you determine the size of an estate for Probate and Inheritance Tax purposes. We can prepare an application for the Grant of Representation on your behalf, and help you lodge the required forms with the relevant organisations to collect monies due to the estate and settle any outstanding debts.
We can arrange the transfer or sale of any shares, and work with conveyancing solicitors to handle the sale of any property or land owned by the deceased.
We also offer a reduced probate service for simple estates where we will complete the necessary tax return and make an application for a Grant of representation on your behalf. Once we have obtained the Grant, you can then handle the administration of the estate.
We can also assist with tracing missing wills and missing beneficiaries.
For assistance please contact Neil Lloyd-Evans on 020 8508 4691