Estate Administration & Probate

As personal representative, you will need to close all bank accounts, sell or transfer investments and property and settle any outstanding debts. As part of this, you may need to obtain a Grant of Probate or Letters of Administration and deal with paying any inheritance tax, capital gains tax and income tax. You will need to keep any leftover assets safe, prepare estate accounts and distribute the estate in accordance with the Will or laws of intestacy. Administering an estate usually takes between 12 and 18 months.

Williamsons can administer the whole estate for you by applying for the Grant, dealing with the assets/liabilities and distributing to beneficiaries, ensuring all formalities are complied with.

If you are the person legally entitled to administer the estate (as an executor named in a Will or an administrator where there is no Will), you may have been told that you need to obtain a Grant of Probate or Letters of Administration before you can begin to deal with the financial affairs of the deceased.

A Grant of Probate and Letters of Administration are the legal documents that confirm who has the authority to deal with the deceased person’s assets. They are not always needed, but are generally necessary to deal with assets such as property, shares and large amounts of money.

To obtain either of these documents, you will need to value the assets and liabilities of the estate, confirm whether there is any Inheritance Tax to pay and sign a statement of truth.

Williamsons can complete the paperwork to obtain the Grant of Probate (or Letters of Representation) and advise HMRC whether any Inheritance tax is payable. You will then administer the estate.

Obtaining a Grant of Probate and administering an estate can be complex and time consuming. At Williamsons Solicitors, we will guide you through the decisions that need to be made, taking the stress out of the process.