When a loved one dies, their estate will need to be administered.

An estate administration involves identifying and valuing assets, notifying all relevant bodies connected to the deceased of the passing, closing all records and accounts, applying for probate and completing Inheritance Tax returns, collecting the assets of the estate, settling estate liabilities, and distributing what’s left to the beneficiaries in accordance with the terms of a Will or the intestacy rules.

The person(s) who administer the estate are either the executors appointed in the Will, or the persons entitled to do so as set out by law if the deceased died without a Will.

Administering an estate can be time-consuming and complex. It is a big responsibility with personal liability resting with the Executors/ Administrators.

Whether a person needs Probate is dependent upon the circumstances and assets of the estate. The term ‘probate’ is used to refer to a Grant of Probate (issued to Executors of a valid Will), or a Grant of Letters of Administration (issued to an Administrator, usually when there is no Will).

Probate is a Court Order issued by the Probate Registry confirming the legal authority of the Personal Representative in dealing with the estate administration. It is needed in most estates, especially where the deceased had savings and investments, or owned property and land. Without Probate, many financial institutions will refuse to release funds or transfer assets to the beneficiaries. It is also needed if Court proceedings are being brought on behalf of the estate.

How C.K Law can help

Charlotte has a vast amount of experience in dealing with probate applications and estate administrations, from the simplest estates to the most complex.

We can help you with the completion of the Inheritance Tax return and Probate application only, or we can assist with the full administration of the estate, ensuring that you receive full advice on any claims for tax relief that may be available.

We provide compassionate expert advice to help relieve your responsibility during your time of grief.

There is no legal requirement to instruct a solicitor to assist you with the probate application or the estate administration; however, handling an estate administration can be significantly more complex than it first appears, and at what is already a difficult time. Professional assistance can prevent errors and delays and ensure that the estate is correctly administered in accordance with the law and the terms of the Will or intestacy rules.

With Personal Representatives having personal liability, if a mistake is made, or the correct protective measures have not been put in place during the administration period, the Personal Representative will bear the financial responsibility.

We strongly recommend that you seek professional advice if the estate includes trusts, business or agricultural interests, multiple beneficiaries, missing beneficiaries or if there is a dispute.

FAQ’s

Many people believe that if they have a Will, they do not need to apply for probate. This is not correct. Whether a Grant of Probate is required will depend upon what assets are in the estate. If there is a property or savings, then a Grant of Probate will be required.

Once the value of the assets and liabilities has been ascertained, and any required Inheritance Tax return has been submitted to HMRC, any Inheritance Tax must be settled before the application for the Probate can be made.

Once the Probate application has been submitted and received by the Probate Registry, the Probate should be issued within 12 weeks for standard online applications.

Receiving Probate can take much longer for non-standard applications or paper applications.

The Probate Registry charge a fixed fee of £300 for the Probate Registry for all estates above £5,000. Additional copies of the Probate cost £16 each.

If you instruct a solicitor to assist you, they will charge fees.

We offer a range of fixed fees or charges incurred on a time spent basis. If you would like an estimate of costs, please get in touch.

Provided the estate is solvent, the administration costs, which include the Probate registry fee and any legal fees directly related to the estate administration, are payable out of the funds in the estate.

Deeds of Variations and Family Arrangements are the same thing. They are a legal document that enables a beneficiary to redirect their entitlement under a Will or Intestacy to another person or trust.

Deeds of Variations are often used for Inheritance Tax planning purposes, to provide for individuals who have received no provisions under the intestacy rules, to correct perceived unfairness amongst beneficiaries, to prevent bunching of estates for IHT purposes or care fee purposes, to correct perceived errors, or to include charitable donations to enable a reduced rate of Inheritance Tax to be paid by the estate.

If the Deed of Variation meets the legal requirements, it will be effective for both Inheritance Tax and Capital Gains Tax purposes.

Expert Guidance Through Every Step of the Estate Administration Process

Acting as an Executor or Administrator carries significant responsibilities, and it is natural to have questions about what needs to be done and when.

Schedule appointment

If you would like a no obligation, informal discussion about Probate or estate administration, please get in touch