What is Estate Administration?
When someone dies somebody has to deal with their ‘estate’. A person’s estate is made up of the money, investments, 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 authority (via a document know as a Grant of Representation) to the individual(s) nominated in your Will, the ‘Executor’. If you have no Will, then it is up to somebody entitled to a share of the estate who will act on behalf of the estate as Administrator.
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 – don’t assume it all goes to your spouse!
How a solicitor can help take care of Estate Administration
Whether you are an Executor or an Administrator, we can provide practical guidance to help you deal with the administration of someone’s estate. We can help you determine the size of an estate for Probate and Inheritance Tax purposes. We can prepare an application for the Grant of Representation on your behalf and help you lodge the required forms with the relevant organisations to collect monies due to the estate and settle any outstanding debts.
We can arrange the transfer or sale of any shares and work with our residential property team to handle the sale of any property or land owned by the deceased.
We also always work on the basis that we will only do the work that you want us to do, without pressuring you to take up services that you don’t want or need right now. Our transparency with costs and pricing also means that we will only ever charge you for what we do – rather than taking percentage of what you inherit.
Speak to our specialist Probate solicitors
For advice and assistance with any aspect of dealing with the estate of a family member contact our probate solicitors today. Bray & Bray has three main offices in Leicestershire, contact us to discuss an enquiry or a case you have or feel free to pop in and see us at your local office by clicking on the links below;
Leicester call us on 0116 254 8871.
Hinckley call us on 01455 639 900.
Market Harborough call us on 01858 467 181.