What is estate Administration

Estate administration is the process of dealing with a deceased person's legal and tax affairs

This means dealing with all their assets (such as property, shares and personal possessions), paying debts, paying any Inheritance Tax and Income Tax and transferring the inheritance to the beneficiaries of the estate. Estate administration can be extremely complex and is required after every death – whether or not there is a Will.

Gathering information

We’ll contact banks, HMRC, the Department for Work and Pensions, creditors and other financial institutions. We’ll let them know we’re acting on your behalf and ask for date-of-death valuations.

i

Preparing tax forms and applying for the Grant

We will prepare the relevant tax forms and apply for the Grant of Probate on your behalf or in our name taking on the liability.

Closing accounts

Once we’ve received the Grant of Probate we’ll send it to banks, mortgage companies and anywhere else the deceased had an account, policy or debt. We’ll close accounts and collect funds.

Completing the legal work

If the Will contains a Nil Rate Band Discretionary Trust, we’ll write to the Trustees. Our legal team will then work on Trusts within the Will, property transfers and other legal tasks like statutory declarations or dealing with Cessate Grants.

Selling and transferring assets and paying debts

We’ll sell or transfer any shares and assets within the UK and overseas. If there are assets to be transferred to beneficiaries, we’ll organise it. If we have sufficient funds, we’ll pay off the debts and make interim distributions to other beneficiaries.

Selling property

The family home can be the most valuable part of an estate, financially and emotionally. We aim to be able to help you achieve the best price, quickly, and to manage the legal requirements of selling or transferring a property.

Finalising tax work

Our tax team will complete the Income Tax return and submit it to HMRC. We’ll confirm the final Inheritance Tax position and obtain ‘clearance’ from HMRC. We’ll reclaim any overpaid Inheritance Tax. We’ll also pay any remaining debts.

Producing estate accounts

We’ll produce full and final estate accounts and send them to you and all the beneficiaries. If you have any questions, we will answer them.