Losing a loved one

Losing a loved one is a difficult and stressful time.  If they made a Will, they will have appointed Executors, who are the people responsible for dealing with the legal practicalities surrounding any property, bank accounts, investments and personal items they owned.  This is known as their ‘estate’.   If there is no valid Will, their estate will need to be shared out under rules set out in law, known as the ‘rules of intestacy’.

In many cases a document usually known as a Grant of Probate will be needed from the Court to show that the Executors have the authority to deal with the estate.  This document is likely to be required to close bank and building society accounts or to sell or transfer ownership of property or shares.

Whether or not a Will has been made, dealing with estates can be complicated, particularly when completing tax forms which are required even if Inheritance Tax is not payable.  As an Executor, it is important that you understand that you are personally responsible for making sure the estate is correctly dealt with.

For example if:

• you make a mistake
• there is a later successful claim by an unknown family member; or
• there is an unknown debt that has not been paid after you have finished dealing with the estate

you would be personally liable, which could result in you being financially out of pocket.

We can help

We can assist you as much or as little as you would like – from simply helping you with the application for the Grant of Probate, to dealing with the whole process to wind up your loved one’s estate including:

• sorting through the financial paperwork, dealing with the sale or transfer of the property
• completing the inheritance tax forms
• dealing with inheritance tax concerns or making sure the right amount of tax is paid, if any
• submitting your probate application to the Court
• dealing with the various banks, building societies, shareholdings, other professional organisations and public bodies
• paying any outstanding debts
• dealing with all tax affairs, such as income tax and capital gains tax
• making sure you, as an Executor, are fully advised throughout the process to avoid any personal liability to you
• making sure the right people benefit from the deceased person’s property and money.

We are always happy to discuss matters without any obligation to you to see if there is some way we can assist.

Find out more about the costs for this service.