Probate and Estate Administration
We provide a Probate and Estate Administration service tailored to your needs. We understand that administering an estate is a big responsibility and a very time consuming process. We are able to guide you through the process in a timely and efficient manner. By utilising our expertise we can help navigate you through the various complexities and pitfalls in administering an estate and advise you on executor protection. We are able to administer an estate from registration of death through to the dealing with the application for probate, negotiating all relevant tax issues, dealing with the collection of assets through to the ultimate distribution of the estate but in cases where the family wish to deal with some aspects of their loved one’s estate personally, we can provide a tailored service on a fixed budget agreed at the outset to assist in those areas in which assistance is required.
A person’s estate is considered to be made up of the money, property and any possessions that they owned at the time of their death less any outstanding liabilities. The process of obtaining 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 remain frozen, until the Probate Registry gives the authority (via a document known as a Grant of Probate) to the individual(s) nominated in the Will, known as the executor(s) or when there is no Will, the intestacy rules will determine the most appropriate member of the family to act on behalf of the estate.
Our team is experienced in assisting on a wide range of issues which arise from administering an Estate. We advise on the terms of the deceased’s Will or the distribution on intestacy if there was no Will. We help collect in the estate assets, prepare estate accounts and distribute the assets to the beneficiaries. We assist selling or transferring estate assets including shares and freehold and leasehold property.
Estate assets need to be valued for probate purposes so that Inheritance Tax accounts and returns of Estate information can be prepared. We can deal with tax compliance in relation to Inheritance Tax and Capital Gains Tax and Income Tax issues. We can also tax plan by way of Post Death Arrangements.
Our team is very experienced in dealing with Trusts. We can set up Trusts created under the Will or by intestacy. We can also close down Trusts which may no longer be required, for example nil rate band Discretionary Trusts.