Dealing with the loss of a loved one is a difficult time for all those affected. To make matters worse, while grieving you are also expected to deal with the legal issues that come along with someone dying, and at times they can become complicated, emotional and disputed.
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In addition to dealing with the legal and tax issues when administering an estate we build relationships with our clients and their family network. Sometimes we act as mediators and consider alternative courses of action that provide the best outcome for the family and friends of a deceased. This may sometimes mean we have to think ‘outside the box’ to ensure the best outcome for our clients, and this is illustrated by the case I managed a few years ago:
Mr A died without a will. He had no family but had been treated as ‘one of the family’ by close friends for many years. When Mr A died, as he did not have a Will or any family, his estate was claimed by the Crown under the intestacy rules. I managed to successfully persuade the Treasury solicitor, who represented the Crown, to relinquish their claim on Mr A’s estate and consent to it being paid to his close friends.
Not only does the above case illustrate the importance of making a Will but it also illustrates the benefit of instructing a team of experienced professionals to assist you and your family with the administration of an estate. We know the associated paperwork can be extremely daunting and we can therefore provide hands on support and alleviate your stress by:
- Notifying the relevant people of the individual's death
- Obtaining the required probate valuations for both assets and liabilities
- Completing the necessary forms and accounts for HMRC
- Agreeing with the HMRC how much inheritance tax is payable (if applicable)
- Applying to the Probate Registry for the grant of probate or grant or letters of administration (where there is no will) which establishes the authority of the person dealing with the estate and the validity of the will
- Consider alternatives which would best accommodate a beneficiary’s needs or reduce inheritance tax e.g., by varying the terms of the will
- Collect in the assets, pay bills and finally distribute the estate to the beneficiaries
- Prepare the formal estate accounts
- Claiming all possible exemptions and reliefs to minimise any inheritance tax liability
How a Wills, Trusts & Probate solicitor can help:
The stress and grief of losing a loved one is enough to deal with without having to worry about dealing with the administration alone. At Jackson Lees, we have a team of friendly experts ready to help you with you administration needs during such difficult times. Make an enquiry today or call us on 0151 282 1700.