Wills and Estate Administration

Making a will is not easy to contemplate, but not wishing to deal with the issue will not stop it becoming a possible reality.

 

There are many matters to be considered in the process, which will remove the potential of leaving your estate in doubt. Living with a partner does not give them the same rights as a spouse regarding inheritance, and other family members may not receive the benefits you desire should your legacy be intestate.

 

In addition to Will drafting and the administration of Estates we can also help with Lasting Powers of Attorney and general elderly client affairs.
 

 The inability to look after your money and matters of health and welfare every day is a real risk to us all so it is important to take steps now to choose someone you trust to manage and protect your wellbeing in the future. 

The process of administering an Estate:

 

• Locating and identifying the assets and any liabilities of the Estate

• Dealing with the administration of the Estate according to law by collecting in these assets

• Determining the beneficiaries

• Applying to the Court for a Grant of Probate of the Will (Probate is a formal document that confirms the Executors and gives them permission to administer the Estate) or Grant of Administration if there is no Will

• Making sure all claims and debts are received, assessed and paid if substantiated

• Arrange for the distribution of the Estate in accordance with the terms of the Will or under the rules of intestacy if there is no Will

• Prepare accounts

• Deal with taxation returns

• Defend litigation if necessary

 

An Executor or Trustee is entitled to have proper expenses paid out of the Estate so that there should not normally be a financial burden and the Executors can, and in most cases would, appoint solicitors at the expense of the Estate to deal with its administration.