Probate and Administration of Estates
When someone dies, unless their estate is very small or simplified it will be necessary to obtain official authorisation to deal with their assets. The document which gives this authorisation is a grant of probate, or a grant of letters of administration. We can see to this as well as administering the estate of the deceased person, dealing with all the issues that might conceivably arise in this connection.
We will obtain repayment of the assets, settle any liabilities (including the funeral bill), pay any legacies left and then account to the ultimate beneficiaries. If any complexities arise e.g. negotiating with the Revenue regarding the value of a house that may remain unsold, or a business interest, we will use our experience to obtain the most cost-effective result. All tax issues – inheritance tax payable as a result of the death, capital gains tax on the disposal of assets after the date of death, and income tax during the administration period – will be dealt with expeditiously.
Sometimes there may be opportunities to reorganise matters to achieve a more tax-efficient result, and we can identify those situations when they might not be apparent to the layman. This can maximise the amount passing down for the benefit of the family and future generations.