The first thing that must be considered is, 'did the deceased leave a Will?' If the Deceased left a Will then the Executor(s) named in the Will is the person responsible for administering the deceased's estate.

 

If the Deceased did not leave a Will, then their spouse/ children/ parents will be responsible for the administration. The exact identity of the 'administrator' is sometimes a matter of some debate, where there was no Will, but we will be happy to advise you on this.

 

If there is a Will, the Executors duties are as follows:

 

1.        To establish the extent of the deceased's estate;

2.       To contact all of the organisations in order to obtain Probate figures;

3.       To prepare an Inheritance Tax Account for the Inland Revenue, and to settle any tax which may be payable;

4.       To prepare an application to the Probate Registry for a Grant of Probate;

5.        To close the deceased's accounts and sell any property;

6.        To distribute the estate in accordance with the Will;

7.       To prepare a set of estate accounts showing how the estate has been administered.

 

If there is not a Will, the Administrator's duties are exactly the same, only the will apply for a 'Grant of Administration' rather than a 'Grant of Probate'.

 

If there is a Will, the beneficiaries are those people mentioned in the Will.

 

If there is not a Will, the beneficiaries will be dictated by law. Usually these will be the deceased's spouse, children and parents, but the exact identity of the beneficiaries, and the amounts that they will receive will be decided by the 'rules of intestacy'. We can advise you on these and assist  you in ensure that the Administrator transfers the estate to the correct beneficiaries in the correct shares.

 

Inheritance Tax is payable on any estate worth more than the nil-rate-band (NRB). The NRB is currently £335,000, therefore tax would be payable at 40%  of everything over £325,000.

 

If an estate is worth less than the nil rate band, no tax is payable. Please note that the estate may benefit from certain reliefs and exemptions which would reduce or remove a potential tax liability. For example, gifts paid to charity or to the deceased's spouse pass free of tax, and if one spouse dies leaving their entire estate to their surviving spouse, the surviving spouse's estate will benefit from a 'Transferrable Nil Rate Band' (giving a total nil rate band of £650,000).

 

We can advise you on all of the reliefs and exemptions available.

 

The first thing the family must do is register the death. This should be done at the local registry office within the Borough or county in which the person died.

 

Once the death has been registered, you will be given the Death Certificate and a form authorising the Funeral Director to collect the body.

 

Once you have the Death Certificate, please contact us so that we can arrange a meeting to discuss the next steps.

 

As a firm, we have been assisting people in matters of Probate & Estate administration for around 100 years. We have an extremely well established Private Client department and we can assist you in all matters associated with Probate, Estate Administration and Inheritance Tax.

 

We believe that clients depend on and are entitled to regular updates, and clear and comprehensive explanations of the various procedures involved.

 

We are also committed to a reasonable and affordable billing structure.

 

Please contact us today to discuss how we can assist you.