When someone dies, somebody has to deal with their "estate". A person's estate is considered to be made up of the money, property and any possessions they had at the time of their death. The process of Probate involves collecting any money that is owed, settling any debts due (including outstanding taxes) and dividing the estate amongst the respective beneficiaries.
All assets (including property) in an estate will remain frozen, until the Probate Registry gives the authority (via a document know as a Grant of Representation) to the "executor" nominated in your Will. If you have no Will, then the most appropriate member of the family, usually the next of kin, will act on behalf of the estate.
If there is a Will, the estate will pass to the people named in the Will. If there is no Will, certain rules, known as the Rules of Intestacy, will apply.
Whether you are an Executor or the next of kin, we can provide practical guidance to help you deal with all aspects relating to administration of someone's estate including:-
- Registering the death
- Collecting in the financial details of the estate
- Preparing the necessary HM Revenue & Customs forms
- Preparing and submitting the necessary forms to obtain the Grant of Representation
- Collecting in assets and distributing them in accordance with the Will or the Rules of Intestacy
- Preparing and supplying the executors or next of kin, and the beneficiaries, with clear and easy to understand estate accounts
- Advising in the use of deeds of variation where appropriate
- Transferring or selling shares
- Handling the sale of any property or land owned by the deceased
We can also help in the event of a Will dispute. For more information about our specialist service visit our website www.challengingawill.co.uk