Full estate administration service

Thank you for considering our fixed fee full estate administration service, starting from £1,995 plus VAT and Disbursements.

We want to assure you that there are no upfront costs involved. Our fees are seamlessly taken from the estate, ensuring your peace of mind throughout the entire administration process.

Feel free to reach out for a no-obligation quote tailored to your specific needs. We are here to assist you in navigating the estate administration process with transparency and professionalism.

The estate administration process in England and Wales involves several steps, and the specifics can vary based on the complexity of the estate, whether there is a valid will or not, and the presence of any outstanding debts. Here is a general outline of the key steps involved:

Registering the Death:

The death must be registered with the local registrar within five days.

Obtaining the Will (if applicable):

If there is a valid will, the executor named in the will is responsible for handling the estate. If there is no will, an administrator is appointed.

Applying for Grant of Probate or Letters of Administration:

The executor or administrator must apply for a Grant of Probate (if there is a will) or Letters of Administration (if there is no will). This legal document grants the authority to administer the estate.

Valuing the Estate:

The executor or administrator must determine the value of the deceased person’s assets and debts. This includes property, bank accounts, investments, and personal possessions.

Paying Inheritance Tax:

>Inheritance Tax may be due, depending on the value of the estate. The executor or administrator is responsible for calculating and paying any Inheritance Tax owed.

Obtaining the Grant of Probate or Letters of Administration:

Once the application is approved, the Grant of Probate or Letters of Administration is issued, providing the legal authority to distribute the estate.

Settling Debts and Distributing Assets:

The executor or administrator uses the estate’s assets to settle any outstanding debts, including funeral expenses and taxes. The remaining assets are then distributed to the beneficiaries according to the terms of the will or intestacy laws.

Closing Accounts and Transferring Property:

Bank accounts are closed, and property may be transferred or sold as required.

Finalising the Estate:

The executor or administrator provides a final account of the estate to the beneficiaries and the court. Once all aspects are complete, the estate can be closed.

The duration of the estate administration process in England and Wales can vary depending on several factors, including the complexity of the estate, the presence of a valid will, the efficiency of the executor or administrator, and any potential complications that may arise. On average, the process typically takes between nine months to a year, but it can take longer in certain more complex situations.

It’s important to note that unforeseen issues, such as disputes among beneficiaries, complex assets, or challenges in obtaining necessary documents, can prolong the process. In some cases, estate administration may take more than a year.

Handling outstanding debts is an essential part of the estate administration process in England and Wales. Here’s a general overview of how outstanding debts are typically managed:

Identification of Debts:

The executor or administrator must identify and compile a comprehensive list of the deceased person’s outstanding debts. This may include mortgages, loans, credit card balances, utility bills, and any other financial obligations.

Publication of Notice to Creditors:

The executor or administrator may publish a notice in the London Gazette and a local newspaper to inform creditors that the person has passed away. This serves to notify creditors of the opportunity to submit their claims.

Notification to Creditors:

Direct notification of known creditors is also essential. Creditors are typically given a specified period, often two months, to submit their claims against the estate.

Payment of Debts:

Once the claims are received, the executor or administrator assesses their validity. Valid claims are paid from the assets of the estate. The payment priority is established by law, with funeral expenses and administration costs taking precedence.

Inheritance Tax and Other Taxes:

The executor or administrator must settle any outstanding Inheritance Tax and other taxes owed by the deceased person. This is often done before distributing assets to beneficiaries.

Insufficient Funds to Pay Debts:

If the estate does not have sufficient funds to cover all debts, the estate may be declared insolvent. In such cases, the order of priority for debt payment is determined by law, and creditors may not receive the full amount owed.

Final Account and Distribution to Beneficiaries:

After settling debts and taxes, the executor or administrator provides a final account of the estate to the beneficiaries and the court. The remaining assets are then distributed to beneficiaries according to the terms of the will or intestacy laws.

Once the estate accounts are produced in the estate administration process in England and Wales, the executor or administrator takes several key steps to finalise the estate. Here’s an overview of what typically happens after the estate accounts are prepared:

Review and Approval:

The executor or administrator, along with any legal or financial professionals involved, reviews the estate accounts to ensure accuracy and completeness.

Final Account Submission to Beneficiaries:

The final account is provided to the beneficiaries, detailing the assets, liabilities, expenses, and distributions made during the estate administration process. This document offers transparency and serves as a comprehensive record of the financial transactions.

Beneficiary Approval or Queries:

Beneficiaries may review the final account and either approve it or raise any questions or concerns they may have. Clear communication between the executor and beneficiaries is essential during this phase.

Closing Bank Accounts and Transferring Assets:

Bank accounts in the name of the deceased may be closed, and any remaining funds are transferred to the estate account. Other assets, such as property or investments, may be transferred or sold as per the wishes outlined in the will or according to the laws of intestacy.

Payment of Remaining Debts and Expenses:

Any outstanding debts, expenses, or taxes are settled from the estate funds before the remaining assets are distributed to beneficiaries.

Distribution to Beneficiaries:

The remaining assets are distributed to the beneficiaries according to the terms of the will or the rules of intestacy. This distribution may include specific gifts, bequests, or a share of the residuary estate.

Final Closing Documents:

Once all distributions are complete, the executor or administrator prepares and submits the final closing documents to the probate registry, officially concluding the estate administration process.

Closure of the Estate:

With the distribution complete, debts settled, and necessary documents filed, the estate is officially closed. The executor or administrator notifies the relevant parties, and the legal process concludes.

Throughout these steps, it’s crucial for the executor or administrator to maintain accurate records and communicate effectively with beneficiaries to ensure a smooth and transparent estate administration process. Seeking professional advice from solicitors or probate specialists can be helpful in navigating potential complexities.

Whether you need a grant of probate in England and Wales depends on the specific circumstances of the deceased person’s estate. Here are some key factors that determine whether a grant of probate is required:

Estate value: If the estate of the deceased person is valued above a certain threshold, typically £5,000, you will generally need a Grant of Probate. However, financial institutions may have their own thresholds for requiring probate, so it’s advisable to check with them.

Sole ownership: A grant of probate is usually required when the deceased person owned assets solely in their name. This includes real estate, bank accounts, investments, and personal property. Assets held jointly with someone else (e.g., joint tenancy with rights of survivorship) or assets with named beneficiaries (e.g., life insurance policies, pension accounts) may bypass probate.

Complex estates: If the estate is complex, involves multiple beneficiaries, significant debts, or assets held in trusts, probate may be necessary to ensure proper administration.

Named executor: If there is a valid will, and the deceased person named an executor, that executor will typically need to apply for a grant of probate to carry out their duties and responsibilities.

Dealing with financial institutions: Many financial institutions, such as banks and investment companies, require a grant of probate before they will release funds or transfer assets to the executor or beneficiaries.

Tax liabilities: If there are inheritance tax or estate tax liabilities, the grant of probate may be necessary to settle these obligations.

Other legal requirements: Certain legal and financial transactions may require a grant of probate, such as selling or transferring real estate owned by the deceased person.

It’s important to consult with a solicitor or legal professional who specialises in probate and estate matters to assess your specific situation. They can provide guidance on whether a grant of probate is required and assist you in the probate process if necessary. Keep in mind that probate rules and thresholds may change over time, so it’s important to get up-to-date information and legal advice tailored to your circumstances.