Probate & Estate Administration
Seeking legal advice following a death can seem a daunting prospect at a distressing time. Our Private Wealth team has a great deal of experience of dealing with estates and can help to ease the burden by providing high quality legal advice in a sensitive, clear and timely manner.
There are different stages in the administration of an estate, ultimately leading to the distribution of the estate to those entitled under the Will (or under the law of intestacy if there is no Will).
Usually it will be necessary for the Executors to obtain a Grant of Probate in order to deal with the assets of the estate. Even where no inheritance tax is payable, this involves the completion of an Inheritance Tax return as well as the Probate application itself.
When the estate is subject to inheritance tax, a longer, more detailed Inheritance Tax Return is required. We understand the complex provisions of the inheritance tax legislation and the exacting requirements of H M Revenue & Customs. As a result, we can ensure all appropriate claims for reliefs and allowances are made. We can also deal with queries raised by HMRC.
Other taxes, such as capital gains tax and income tax may be relevant and there may be scope for mitigation.
Where the Will includes trusts, we can ensure the trusts are set up correctly and deal with HMRC in relation to the tax aspects.
As well as finalising the various tax aspects of the estate, we can advise on the potential benefits of Deeds of Variation.