Probate

Administration of a Person’s Estate
What is Probate?

Probate is the process involved in the administration of a person’s estate on their death. The responsibility for probate lies with the executors of a Will who may choose to act themselves or appoint a professional firm to carry out those duties. It is important to consider and understand the legal liability of an executor in carrying out the duties of administration of an estate. We can recommend one of our Partners who can guide you through the process of Probate.
Role of the Executor

1.    Identifying all assets owned by the deceased and obtaining valuations at the date of death.

2.    Identifying all debts payable by the estate.

3.    Application for the Grant of Probate. 

4.    Completing and submitting tax returns and paying any tax due.

5.    Looking after any property until it is ready for sale or distribution to beneficiaries ( The sale of any property can’t be completed until the Grant of Probate is obtained)

6.    Setting up any Trust contained in the Will.

7.    Collecting in all assets and opening a Trustee Bank Account

8.    Distributing assets in accordance with the instructions contained in the Will.