Acting as an Executor or Personal Representative of an estate can be a huge responsibility. It can be difficult and time consuming. A number of complex legal issues can arise during the course of administering an estate.
An Executor or Personal Representative who makes a mistake or misinterprets a Will or the Rules of Intestacy may be held personally liable. You can avoid personal liability by instructing a solicitor to act on your behalf.
We can assist you solely with making the probate application or we can deal with the whole estate from start to finish. We provide a complete estate administration service from advice on registering the death, assisting with funeral arrangements, valuing estate assets and liabilities, completing the probate application and the appropriate Inland Revenue forms. To ensuring any inheritance tax is paid and applying for clearance. We also arrange statutory notices. We ensure that the deceased’s tax affairs are finalised to the date of death. We deal with winding up the estate, advising and assisting with ongoing trusts, preparing estate accounts and distribution of estate assets to the beneficiaries.
We take the time to consider the beneficiaries’ personal and financial circumstances and in particular the tax consequences of receiving an inheritance.
You should always take legal advice in the following circumstances:
- The deceased owned a business or was a partner of a firm
- Where there is agricultural property
- The estate includes family trusts
- The deceased died without a Will
- The deceased had a homemade Will
- There are missing beneficiaries / relatives
- You wish to claim the inheritance tax allowance of a late spouse or civil partner
- If there is the possibility of a claim against the estate
- If the estate is insolvent or solvent but where there are insufficient funds to pay the all of the legacies
- If a beneficiary wishes to vary the provisions of the will or redirect their inheritance for example to save inheritance tax
For immediate advice you may phone our probate solicitors Preston (01772) 722373 or you can contact us direct via the website at Solicitors in Preston and we’ll call you back as soon as possible.