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 Estate Administration
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| The process of dealing with the administration
of an estate can be a difficult one for both family and friends in time
of bereavement. Assets and liabilities need to be ascertained, debts
paid and the estate distributed in accordance with the will or under
the intestacy rules. To do this, it is often a legal requirement to
first obtain a grant of probate or grant of letters of administration.
It is then that the estate can be fully administered. An estate may
include assets such as a house, bank accounts, insurance policies and
stocks and shares. It is the responsibility of personal representatives
(executor or administrator) to collect the various assets; realise funds;
pay any liabilities such as funeral expenses, IHT and income tax and
utility bills; locate beneficiaries and distribute the estate. |
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| Meet the team: Lesley Rushton | Robin Browne | Lorraine Smith | Chris Vernon Danielle Turner | Mark Siddons | |||||||||
| Grants of Representation
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| Often, there are situations where it
is necessary to obtain a grant of representation in an estate to deal
with only one or a small number of assets. Depending on whether or not
there is a valid will, there are different types of grants that can
be obtained. If there is a valid will, a grant of probate is likely
to be the most appropriate grant. If a will does not exist, a grant
of letters of administration would be more appropriate. The grant of
representation gives legal authority to the executors or administrators
to deal with the administration. |
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| Meet the team: Lesley Rushton | Robin Browne | Lorraine Smith | Chris Vernon Danielle Turner | Mark Siddons | |||||||||
| Intestacy
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| When someone dies without a valid will,
they are said to have died 'intestate'. There are clear rules of intestacy
to help understand how to deal with the estate of someone that dies
without a valid will. These rules are very rigid, and are laid down
by statute. Even though you are married, if you die without leaving
a will, your spouse may not inherit all of your assets. It may be the
case that your children will inherit part of your estate with your spouse,
or even your grandchildren, brothers and sisters or nieces and nephews.
If you have no living relatives, it may even mean that your assets will
pass to the state. If you are unmarried, co-habiting or one of a same
sex couple, you may find that your partner receives nothing from your
estate under the intestacy rules and that your relatives take everything.
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| Meet the team: Lesley Rushton | Robin Browne | Lorraine Smith | Chris Vernon Danielle Turner | Mark Siddons | |||||||||
| Foreign Estates
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| Nowadays, more and more people are buying
property abroad, whether in Europe or beyond. As a result, on death,
the foreign property often needs to be included with the England and
Wales estate for tax purposes and communication is required with foreign
lawyers as part of the administration. Countries outside England and
Wales usually have their own succession laws and estates need to be
administered with this in mind. There are also situations where a person who is domiciled abroad dies, leaving assets in England and Wales. These assets still have to be administered and quite often a Grant of Representation has to be obtained in order to release them. |
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| Meet the team: Lesley Rushton | Robin Browne | Lorraine Smith | Chris Vernon Danielle Turner | Mark Siddons | |||||||||
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