Administering an estate after someone has died is also known as dealing with Probate.
If there is a Will, there will be an executor named who will be responsible for administering an estate for someone who has died. If there is no Will, or no executor, then there are rules about which family members will need to deal with this, and the process can be more complicated.
What does an Executor do?
The moment the Testator dies, the role of the Executor(s) begins and these are just some of the very important initial duties:
Tasks include: secure assets and ensure that the house and contents are insured; arrange the funeral; investigate estate assets & liabilities; calculate Inheritance Tax & Income liability; agree with HMRC and arrange to pay tax; arrange for the Grant of Probate; advertise in case of additional claimants, or creditors; pay debts and liabilities; Liaise with beneficiaries; complete Estate Accounts; and finally, distribute the estate according to the Will.
Often family members are appointed as executors in Wills and sometimes don’t know the responsibility they have. They may not even know they have been appointed in the Will until the Testator dies, and it can be quite and emotional and complicated task to undertake. The good news is that Executors who do not feel able to complete the role themselves can appoint their APS Associate to deal with the estate administration, taking away the burden of this task when many are grieving.
You do not have to use a solicitor, or even the solicitor who wrote the Will, or the bank who may offer to pass it onto their probate department. If fact, it’s best to get a couple of quotes first (as you would with any other professional service).
I offer a specialist probate service which is more personal and more cost effective than using a solicitor or bank. Call JENNY at APS Legal & Associates, Beverley for more information : 01482 968001