Personal Case Manager
Every estate is different, but there are various stages of the probate estate administration process which are required in most cases. If you have any questions during the process, you can ask your Personal Estate Manager. They will keep you updated at each stage along the way.
Probate – What could be involved in estate administration?
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.
Preparing tax forms and applying for the Grant
Our team will prepare and submit the relevant tax and probate forms to obtain the Grant of probate or Letters of Administration.
Completing the legal work
If the Will needs any extra Trust /Conveyancing work done we will discuss this with you first and then give you a price for that work ( this would be a disbursement )
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.
All funds will go into your individual estate account.
At this point, we will also apply for the Trustee Notices ( adverts in local & National press . Also called Section 27 of the Trustee Act 1925 )
Selling and transferring assets and paying debts
We’ll sell 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. To help deal with this crucial part of the estate administration, we work with specialist property partners to be able to help you achieve the best price, quickly, and to manage the legal requirements of selling or transferring a property. ( Again costs for selling the property will be a disbursement and agreed with you )
Finalising tax work
Our team will 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.
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