Estate Administration

What is an Estate?

An estate consists of all assets owned by a deceased, minus any debts and taxes. Assets includes the following:

• Property owned.
• Money and savings in the bank.
• Business interests and shares.
• Possessions, including cars and luxury goods.

Once the appraisers value the assets and any debts, they will determine the value of the estate.

What is Estate Administration?

Estate administration is the process of a personal representative dealing with a deceased persons estate. This will either be by an Executor of the Estate or an Administrator of the Estate.

The probate process means getting special permissions from the probate registry. This allows you to manage an estate legally. Estate administration is the process of handling a deceased person’s estate.

It includes paperwork and applications. It also involves distributing the inheritance to beneficiaries.

Our estate administration solicitors can help advise you through the entire estate administration process, including the probate process. We can take away the stress and ensure the best outcome for you and the beneficiaries in the Will.

Services Offered by Our Estate Administration Solicitors

Our estate administration solicitors can help you with managing an estate by:

• Tracking down a Will.
• Applying for probate and dealing with all Grant of Representation paperwork.
• Advise on and pay inheritance tax.
• Advising you regarding the terms of the Will.
• Providing advice and information to you regarding your responsibilities as a personal representative.
• Obtaining valuations of the assets and liabilities, including any debt, in the estate.
• Dealing with a complicated estate where there is no Will.
• Dealing with any Income Tax and Capital Gains Tax.
• Dealing with complex arrangements in a Will, such as assets held in a Trust.
• Dealing with foreign assets in an estate.
• Deal with any business ownership or interests and investments.
• Search for any missing or unclaimed assets.
• Encashing the assets and paying any liabilities out of estate funds.
• Work with Tracing Agents and locate hard to reach family members.
• Distributing the estate based on the instructions in the Will.

The main benefit of having a solicitor is that they make estate administration easier. They help reduce stress and ensure you get the best outcome possible.

Who Deals Estate Administration?

Who becomes a personal representative and deals with a deceased person estate depends on if there is a Will or not.

If there is a Will

If there is a Will, an Executor of the Estate will be named in the Will. The Executor will be responsible for applying for a Grant of Probate. The Grant of Probate will give the Executor the power to manage the estate. This is based on the instructions in the Will.

If there is no Will

If there is no Will, the rules of intestacy will dictate who is the next of kin. The next of kin will likely become the Administrator of the Estate. They will need to apply for a Grant of Letters of Administration.

Find out more on the probate process or learn more on when probate is needed.

Responsibilities of Personal Representatives

If someone names you an Executor or an Administrator of an Estate, you must handle the whole estate process. This includes probate, and it involves:

• Gathering any assets, e.g., money left in bank accounts.
• Value the assets in the estate.
• Paying any bills, including inheritance taxes and debts.
• Distributing what’s left according to the Will.
• Deal with all paperwork in the probate process.
• Close any bank accounts and transfer ownership of any property.

If the deceased did not have a Will, this makes the estate administration process difficult.

If a Will names you as an Executor, you must handle the estate administration duties. It is important to get everything right. You are responsible for what you do or do not do when managing the estate.

Find out more on the responsibilities of an Executor of a Will.

What to do When Someone Dies

It can be confusing where to start when dealing with estate administration after someone passes away. However, if you are personal representative, you should first carry out the following:

• Register the death.
• Find the Will.
• Administer the Will.

Determine if you need probate.

• Follow the probate process and apply for authority to manage the estate.
• Manage the estate.

Find out more on What to do When Someone Dies.

An estate administration solicitor can help and guide you through the process following the death of a loved one. Contact us or call us on 0114 2743 481 to book your appointment today.

How Long Does Estate Administration Take

The estate administration process is complex and can include unexpected problems. This can include disputes regarding the validity of the Will and issues with the personal representative, for example.

Simple estates, like those with a valid Will, usually take 6 to 12 months for probate and estate management.

In cases where there are complicating factors and inheritance tax to pay, this can last up to 18 months. Once our probate solicitors review your situation, they will give you more information. They will explain how long it may take to complete your matter.

Do You Need a Solicitor for Estate Administration

The honest answer is not necessarily. However never underestimate the stress ensued and time commitment the probate and estate administration process can take. It is also important to get legal advice. This helps you achieve the best outcome for your situation, even if it seems simple.

If your circumstances are complex, it is even more important to seek legal guidance from a probate solicitor.

Professional Executor

Howells Solicitors can act as a professional Executor of an estate. This can be a very useful option for the following reasons:

• If you a struggling to choose an Executor.
• There will be no conflicts of interest.
• We will complete the process more efficiently.
• We will complete the paperwork correctly to avoid any delays.
• There will be no disputes over who will manage the estate.

The estate management will align with your wishes, providing you peace of mind.

Contact us or call us on 0114 2743 481 to book your appointment today and discuss your options.

Howells Estate Administration Solicitors

Our estate administration solicitors cover the entirety of South Yorkshire and Derbyshire, including:

• Sheffield
• Barnsley
• Rotherham
• Chesterfield
• Doncaster
• Peak District and the surrounding areas
• Derbyshire and the surrounding areas

You can arrange appointments face to face, or we offer telephone or video call options available. If you can’t reach our office, we could arrange for a member of the team to visit you at home.

Our estate administration solicitors can assist you with tasks such as:

• Applying for a Grant of Probate or a Grant of Letters of Administration.
• Identifying and collecting documents relating to assets.
• Valuating assets in the estate.
• Valuing and settling inheritance tax.
• Identify and pay any outstanding debts of the estate.
• Dealing with all estate administration duties according to instructions in the Will.
• Advise on complex estates if there is no Will left.

Contact us or call us on 0114 2743 481 to book your appointment today.

How Much Do Solicitors Charge for Estate Administration

The fees for probate and estate administration depend on your situation. We are clear about our fees, which you can find here.