We know that it’s difficult enough for you to deal with the loss of a loved one, without the extra burden of dealing with complex legal procedures. When a family member or friend dies, we can help you in taking some of the load, allowing you to have some breathing space to say goodbye in your own way and to take the time you need.
Administering a Will
The process of administering a Will can vary quite a bit, depending on the assets which your relative held, the value of them and whether or not HMRC is involved due to Inheritance Tax. In simple cases, there may be no need to take many steps to finalise your loved one’s affairs but, depending on their assets, you may need to obtain a Grant of Probate and/ or report to HMRC.
Grant of Probate
A Grant of Probate is a document issued by the Probate Court, which confirms who is formally chosen to deal with your loved one’s assets as their Executors. If you’re acting in this role, you may also be obliged to find and report various details of an estate to HMRC, so that they may consider whether Inheritance Tax is due.
Of course, this is a simple summary of what can be a very complicated process. You may be surprised to learn that the administration of a Will can take anywhere from a couple of months to several years, depending on the particular circumstances. We can assist you either way by taking on the pressures of the administration of an estate or, alternatively, would be happy to advise you on the steps needed, as and when required.
How we can help you
We advise on:
- The administration of simple and complex estates
- The probate application process
- The valuable reliefs and exemptions from Inheritance Tax available on death, including those available to business-owners and farmers
- Post-death tax planning, including the use of deeds of variation