The period after a person dies can be a traumatic and upsetting time. The last thing on your mind is the administration of the deceased's estate. We understand that being a Personal Representative has heavy responsibilities and can be difficulty legally. Our specialist team can relieve you of the burden of winding up the deceased's estate so as to ensure that the process runs as smoothly as possible.
What we will do?
We usually administer the estate on behalf of the Executors or
Administrators (where there is no valid Will). In this case, we
will efficiently deal with the estate of the deceased (money,
property and possessions owned by them) by collecting all monies,
paying any debts and tax due and then dividing the estate amongst
the beneficiaries. This involves dealing with the banks and
building societies and other financial institutions connected with
the person who has died.
Furthermore, if the deceased owned a property and this property has
to be sold or transferred, we can provide expert advice and
assistance in regards to this, and will give a written quotation of
our charges on request. (Please see our conveyancing section for
more information)
Once we have full details of the assets and liabilities in the estate, we can then prepare the necessary paperwork for the Grant of Probate, or Letters of Administration (in cases where the deceased left no Will) so we can efficiently wind up the estate.
Tax Issues
Our specialist Department will also effectively deal with any tax implications on the deceased's estate. Income and Capital gains, as well as Inheritance Tax, must be accurately declared to the Inland Revenue in detailed accounts and the correct tax paid, before beneficiaries are provided for.
At the end of this intricate process, we will prepare detailed accounts so as to illustrate exactly how the estate has been distributed so you can see that the deceased's' estate has been administered properly.
In short we will:
- Act on behalf of relatives removing much of the work they would have otherwise needed to undertake;
- Obtain grant of probate from the court and ensure the terms of the will are followed;
- If there is no Will, obtain letters of administration for next of kin and distribute the estate in accordance with the Intestacy Rules governed by Law;
- Ensure all Tax implications are considered and effectively dealt with;
- Act as speedily and efficiently as possible to minimise any difficult problems.
If you would like us to administer an estate on your behalf, or would like more information, then please contact us, by:
Telephoning our experienced Private Client Department on 01233 625 711, or e-mail us at info@hallettandco.co.uk