Probate Executor deceased's estate
Acting as the executor can be a time consuming and thankless task. A client once told a member of the firm that acting as the executrix for her late husband was like “having to drink from a poison chalice” because she had to sort out a complex estate involving children from a previous marriage whom she did not get on with. She instructed the firm to deal with the administration, as she found it extremely stressful dealing with her bereavement and the demands of sorting out her late husband’s estate.
The death of a loved one is a difficult time. Having to sort out the deceased’s financial affairs during a period of bereavement can be hard. He or she has a lot to do to wind up the affairs of the deceased including locating and identifying the assets and any liabilities of the estate, dealing with the administration of the estate according to law by collecting these assets. Also the beneficiaries must determine the entitlement of the beneficiaries and prepare detailed inheritance tax accounts.
Application to the court for a Grant of Probate
An application must be made to the court for a Grant of Probate or Letters of Administration (where the deceased died without a will). The executor must ensure all claims and debts are received, assessed and paid if substantiated. The executor ought to be careful in this respect because failure to do a thorough job will be make them personally liable to discharge unpaid debts. At the end of the administration estate accounts need to be prepared and the net estate distributed in accordance with the will or under the rules of intestacy where the deceased failed to make a will.
If you would like help or advise with probate, here are some options
- Call us in confidence to speak with a probate advisor call 020 8920 3190
- Email us with your questions or concerns and one of our advisors will respond as soon as possible. Click here.