Why use a legal expert to administer an estate?
There are many reasons why instructing a solicitor to administer an estate is sensible.
An Executor named in a Will is responsible for making sure correct procedures are followed when someone dies. Often, the process can be complex and, unfortunately, if an executor distributes an estate without properly considering the terms of the Will they could find themselves subject to a claim for breach of their duty.
Entrusting a legal expert means that you are in safe and experienced hands. Only a small number of estates are straightforward so there are likely to be a range of issues that need to be addressed including:
- Interpreting legacies in the Will;
- Calculating the inheritance tax due;
- Ensuring that any inheritance tax is deducted from the correct beneficiary’s share of the estate;
- Preparing accurate estate accounts;
- Dealing with a variety of assets, some of which carry their own complications; and
- Reporting any income and capital gains to HMRC and providing the beneficiaries with certificates of deduction of income tax.
In addition to the administrational burden, there is of course the emotional aspects of having to deal with a loved one’s estate and often people simply find that having a professional to undertake this role provides huge comfort during a time of grievance and stress.
Contact Rix & Kay’s Probate solicitors in Brighton & Hove, Uckfield and Sevenoaks
Rix & Kay’s specialist probate team has many years of experience of dealing with estate administration on a day-to-day basis. For more information and an informal chat about how we can help contact Sharon McCollum e. firstname.lastname@example.org t. 01825 744418