What a difference a year can make. Indeed, at the moment, what a difference a day can make. In these uncertain times there are many things to think about and consider. When somebody dies and leaves property, money, a car, treasured possessions (collectively called “their Estate”) attention must be turned to those who are left to administer that Estate either in accordance with the terms of the Will (if the person who has died has left one) or, if there is no Will, in accordance with the rules of Intestacy (which direct who benefits).
There needs to be an evaluation of the Estate assets, as at the date of death. Whether or not Inheritance Tax needs to be paid (the rate of Inheritance Tax is 40% above the applicable thresholds) certain tax returns have to be prepared and filed and those representing the person who has died (in the Will called an Executor, or if there is no Will, an Administrator) needs to apply to the Probate Registry for either a Grant of Probate (where there is a Will) or Letters of Administration (in the absence of a Will). The Grant of Probate or Letters of Administration is the document that enables and provides authority to the Executors/Administrators to administer the Estate, to realise all assets, to pay the debts of the deceased and to distribute to the beneficiaries, whoever they may be.
The completing of HMRC forms and, indeed, the application for Grant of Probate itself, can be complex and involved.
Obviously, dealing with the administration of an Estate of a loved one is going to be trying and difficult at any time but during the current crisis, may appear more intense. We at Martyn Prowel Solicitors can certainly assist, either in advising and helping the Administrators or Executors throughout the whole administration of the Estate process or for various parts of it, depending on the situation and the advice and assistance that is required. We are an accredited member of the Solicitors for the Elderly Group and, therefore, specialise in assisting representatives in the administration of an Estate. We are here to help and advise in whichever capacity is required. Please do not hesitate to contact Natalie Harvey on 02920 470909.