Probate and the Administration of Estates

Legal

• Preparing the necessary documentation for the Grant of Representation (whether admitting a Will or under an Intestacy).
• If the deceased died intestate applying the correct Rules of Intestacy to the estate of the deceased to identify and account to the correct beneficiaries and to establish their entitlements.
• Apply to the Probate Registry and obtain the correct Grant of Representation
• Ensure the accurate distribution of the estate which may include assessing and dealing with any claims against the estate and placing statutory notices to advertise for unknown creditors.

Tax

• Completing the following tax forms:-

o The Income Tax Return from 6th April to the date of death.
o The appropriate Inland Revenue Account, either an IHT 205 or IHT 400 together with supporting documents.
o Advise if any Capital Gains Tax implications arise and file a Return if required.

• Conducting all correspondence with H M Revenue & Customs relevant to the completion of the above tax forms.
• Taking any corrective action required from H M Revenue & Customs during the administration of the estate.
• Claiming any relevant reliefs or exemptions applicable to the estate.
• Calculating any Inheritance Tax, Income Tax and Capital Gains Tax owed, assist in arranging payment from the estate and ultimately obtaining letter of clearance from H M Revenue & Customs when all tax liabilities are settled.
• Calculating and arranging for the transfer of any nil rate band allowance available to mitigate the Inheritance Tax liability of the estate.

Administration

• Identifying and corresponding with the Personal Representatives and beneficiaries of the estate throughout the administration of the estate.
• Identifying and corresponding with all financial institutions and organisations relevant to the estate to obtain correct information to complete Tax forms detailed above.
• Identifying, verifying and valuing all assets based in England and Wales and provide assistance if assets are held abroad.
• Gathering all the assets of the estate and settling any liabilities.
• Transferring all jointly held assets into the sole name of the joint owner.
• Preparing accounts detailing assets and liabilities of the estate for the beneficiaries.
• Distributing the estate to the beneficiaries.
• Setting up any trust relevant to the estate which may be contained in any Will.

Property

If there is a property in the estate we can assist in ensuring that the buildings and contents insurers are fully aware of the change in circumstances and make sure that comprehensive and adequate insurance is in place during the administration period.  We can also arrange post to be redirected to us during the administration of the estate to manage all the affairs of the deceased.
Our Property department can act in the sale and liaise with us throughout to ensure that the sale takes place as quickly as possible without any unnecessary delays.  Please note that any sale of the property is separately charged to any fees in the administration of the estate.

Additional Services

During the administration of the estate there may be other matters that need to be attended to that may or may not have been apparent at the outset.  The following services are provided if required:

• Completing outstanding Income Tax Returns for previous tax years other than that of the date of death
• Advise and prepare any Deeds of Variation
• Handling the legal, tax and administration of any foreign assets, heritage assets, business or agricultural assets
• Introduce you or any beneficiaries to an Independent Financial Adviser to ensure that any inherited wealth is invested wisely.