The loss of a loved one can be a very emotional and distressing time, even more so if you are faced with sorting out the deceased’s financial and personal affairs. While some people feel that they need to do as much as possible in order to keep busy, others need someone to help ease the burden and deal with the legal intricacies.
Dealing with the affairs of a deceased person is often more complicated and time consuming than people expect, and if dealt with incorrectly the personal representatives may leave themselves vulnerable to claims against the estate and even personal financial liability.
Our specialist team can deal with as much or as little as you require in the course of the administration of an estate.
The administration of an estate can be complicated by factors such as the payment of Inheritance Tax, missing beneficiaries, executors who do not wish to act, Trusts, contested Wills & claims against an estate, and difficulty in establishing the estate assets and liabilities. At Hay & Kilner, we’re experienced in dealing with all of these issues.
Where there is a Will, a ‘Grant of Probate’ may be required in order to deal with the deceased’s assets. This is confirmation from the Court that the Will is valid and it gives the Executors appointed to act under the Will authority to act.
In order to apply for a Grant of Probate, it is necessary to first value all of the deceased’s assets and pay any Inheritance Tax liability. Once the Grant of Probate is issued by the Court, the Executors are responsible for encashing the assets and settling the estate liabilities. They will then distribute the estate in accordance with the instructions in the Will.
We can help you to deal with all aspects of the estate administration, including valuing the estate, paying any Inheritance Tax liability, applying for a Grant of Probate or Letters of Administration as appropriate, collecting in the estate assets, settling any liabilities and distributing the estate in accordance with the Will or the Intestacy Rules.
Our solicitors are experienced in dealing with both very large, complicated estates and very small estates, estates which include business assets, those with farming assets and estates which include foreign assets.
We can also help with claims relating to Trusts, Wills and Estates.
For further information or advice, please contact Alison Hall on 0191 232 8345 or email Alison.Hall@hay-kilner.co.uk