What is Administration of Estate?

After someone dies, all their assets and liabilities need to be properly dealt with. This is done by gathering information from all relevant asset holders and creditors and also dealing with other institutions such as the DWP, the local authority and the Inland Revenue. Once all the deceased’s affairs have been finalised distributions can be made to beneficiaries. The estate is distributed in accordance with the terms of the Will or if there is no will in accordance with the rules of Intestacy as set out in The Administration of Estates Act 1925.

If the deceased left a Will then the Executors appointed in the Will deals with the administration of the Estate. If there is no Will then it is usual for the deceased’s closest relative to apply to the Court to be appointed as an Administrator.

What are the responsibilities of an Executor or Administrator?

The Executor(s) or Administrator(s) is responsible for dealing with all the deceased’s affairs. This can be a time consuming task involving corresponding with lots of different institutions. The Executor or Administrator is also personally liable for any mistakes made in administering the estate. For these reasons it is advisable to seek professional help when administering an estate.

How long will it take to administer the Estate?

Dealing with the administration of an estate can take a long time. It can take up to a year or longer if things are not straightforward. Many organisations will need to be contacted, a grant of probate will need to be obtained and clearance will be needed from the Inland Revenue before assets can be distributed and the estate finalised.

We always endeavour to make interim payments at the earliest opportunity to beneficiaries upon receipt of monies from asset holders subject to the payment of liabilities.

How can Roland Robinsons and Fentons help you?

Roland Robinsons and Fentons provide a sympathetic and friendly service to assist you through this process at what is inevitably a difficult time. We make sure that we provide easy to understand advice and that we are readily available to deal with any queries which you may have by telephone, email or in person as the matter proceeds.

We have to expertise to:

Undertake the responsibility of administering the estate
Remove the burden of a time consuming and sometimes stressful task
Advise in the event of an Intestacy
Advise in the event of a claim from a potential beneficiary or creditor
Advise in relation to Inheritance Tax, Income Tax and Capital Gains Tax returns and payments
Obtain the grant of probate
Liaise with beneficiaries and distribute the estate