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Executors' responsibilities include collecting in all assets after a death, paying debts and inheritance tax and distributing the estate to the people named in the Will i.e. your beneficiaries.
If the will does not name any Executors, or if you do not leave a will, then the law dictates that Administrators are responsible for the administration of the estate.
The people who can act as Administrators are decided by law, depending on the proximity of their relationship to you.
The administration of an estate can be simple or complex, depending on the size of the estate and whether or not it is subject to inheritance tax. It can become particularly complex if there is likely to be any kind of dispute.
The wills & probate team can give you a fixed fee quotation for obtaining a Grant of Probate or Letters of Administration (where there is no will) if you are dealing with the affairs of a deceased person.
Once she has obtained the Grant of Representation for you and has a better idea of how straightforward or complex the final stages of the administration are likely to be, she will give you a further estimate of fees to complete the matter for you.
Our experts' have experience of dealing with all kinds of assets in an estate and can help you with your negotiations with HMRC in respect of the assessment and payment of any inheritance tax liability.
She will also advise on what needs to be done and will assist where necessary, in the preparation of estate accounts, dealing with charitable beneficiaries, drawing up any Deeds of Variation that are required and making the final distributions to the beneficiaries.