Probate And Estate Administration
By the professionals
Probate and Estate Administration
What is estate administration?
Unfortunately, we are all likely to experience the loss of a loved one at some point during our lives. Dealing with this bereavement can be a highly emotional and stressful process, with many people not realising the amount of important work that needs to be done after someone has passed away.
One such task is to administer the estate of the person who has died. This involves identifying all of their assets (such as property, savings and investments) and any liabilities (things like mortgages or credit card bills). These will all need to be dealt with so that whatever is left can be distributed to the people named in the person’s Will, known as the beneficiaries.
Each estate is different but some of the work that will probably need to be completed includes:
Collating and valuing any assets, including property, possessions and investments
Settling any liabilities such as mortgages and loans
Dealing with any tax implications and the subsequent HMRC paperwork
Managing the legal process of administering the estate
How we can help you and your family
We work in association with Countrywide Tax and Trust Corporation Ltd who are experts in dealing with all aspects of Probate.
Their specialist Probate Team have a sympathetic and patient approach when dealing with bereaved relatives and will happily arrange an initial meeting free of charge, in the comfort of your own home. Unlike Solicitors and many other Legal Companies who charge an hourly rate, Countrywide provide a ‘Fixed Fee’ Probate Service based on the value of the estate, which is quoted in advance of any work being undertaken. This means a considerable saving on the fees you would typically need to pay a high street Solicitor.
As part of the Probate Service, the Countrywide team can also offer independent advice on the Will itself and may, under certain circumstances, recommend that a Deed of Variation be set up in order to vary the Will. This process would effectively ensure that the Beneficiaries of the Will receive as much of their inheritance as possible, protecting it from attack by Care, further Inheritance Tax, Divorce, Creditors and Bankruptcy.
Quite understandably, you may not have thought about what will need to be done with your estate once you’ve gone. However, thinking ahead and having a plan in place can reduce the burden on your family when the time comes. If you would like to find out more about estate administration and how we can help support you and your family, please contact us on 07905748073.
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