Knowing that your affairs are in order and that those left behind are looked after following your death is very reassuring for both you and your family. Having a will in place can ensure that your family, friends and perhaps even your favourite charities will be looked after in the terms you require.
If you do not have a valid will in place when you die, your estate will pass under what is known as the intestacy rules and this may mean that people whom you did not want to inherit your estate, could do.
We understand that life can often change sometimes unexpectedly and therefore we always advice that it is sensible to review your Will every 2 years. If you do have a Will and would like us to review this with you with a view to updating it, we would be happy to assist you.
Each person’s circumstances are different, but our team are here to assist you to ensure that your individual requirements are met and that an appropriate Will is drawn up to reflect these circumstances.
Probate and Administration of Estate
If your close relative has died and you have been appointed as an Executor or where there is no Will you are the closest relative and you have to deal with your relative’s estate, this can be a daunting task. As the personal representative you are responsible for the administration of the estate. Your role includes valuing all the assets as at the date of death, making sure all liabilities are paid and then distributing the estate to beneficiaries in accordance with the Will or if there is no Will, the intestacy rules.
Early advice can avoid delays in the administration and it also ensures that any problems are dealt with quickly and efficiently. Our team can assist to take away the stress and the anxiety at a very difficult and sensitive time.
Our scope of work only covers administration of estate that is not contested, we will;
Ascertaining full details and value of estate
Advising on protection and insurance of assets post-death
Preparing application for Probate where appropriate or Letters of Administration
Calculation of Inheritance Tax
Liaising with asset holders
Obtaining Grant of Probate and completing all tax formalities
Day to day administration of the estate
Gathering in assets and arranging disposals where necessary
Preparing, agreeing and distributing full estate accounts
Obtaining clearance for IHT purposes
Paying legacies and distributing net estate to beneficiaries