22 August 2013
Estate Administration - Your questions answered
A number of important tasks need to be completed when you die. If you leave a valid Will, your named executors assume this responsibility from the date of death (unless they formally choose not to).
The role of the Executor can be an onerous one. The deceased's estate may involve valuable or complex matters and the Executor is personally liable for administering the estate correctly.
I am named Executor of a relative’s Will and the bank has asked for a Grant of Probate. Can you help?
Banks and insurance companies can often ask for a Grant of Probate (or Letters of Administration if there is no Will). This is because they are holding an amount of money which is over the threshold for distributing without seeing a Grant. The Grant is a legal document which provides the bank with the confirmation they need that you are the correct person to distribute the estate.
In order to get a Grant of Probate you need to complete various forms, including one to the Inland Revenue which are submitted to the Registry with the original Will.
We can take care of all of this for you. We collect all of the information needed to obtain the Grant, including contacting the law firm who drafted the Will to request its release, calculate whether Inheritance Tax is payable and submit the application to the Registry. We also deal with any additional enquiries which the Registry may insist are made.
We will then send the Grant to you and you can forward this to whoever is requesting it, enabling you to continue to administer the estate.
What if it all gets a bit too much and I just want someone to take care of everything, beginning to end?
We offer a full estate administration service should you need someone to take the reins at this stressful time. This would mean that we contact all banks, life insurance and pensions providers to register the death, submit an application to the Registry for the Grant, collect in all assets and settle all debts including any funeral costs and Inheritance Tax due, then distribute what is left to the beneficiaries.
Our fees for this service are deductible from the estate funds and so there’s no need to worry about paying any hefty legal bills up front, we simply deduct our costs when we have collected in funds sufficient enough to cover them.
By Inheritance & Welfare Solicitor Ciara Hannawin
If you would like assistance with administering someone’s estate, whether it’s just a helping hand in part of the process or taking on the full administration for you, please call 0800 916 9056, or email firstname.lastname@example.org. Our inheritance and welfare team operates across the country and can offer immediate and accessible representation anywhere in the UK.
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