Private client solicitors Emma Westsmith and Susan Grant
Very simply, steps after death include:
Register the death and get a formal death certificate, ideally at this stage you would also register for the Government’s tell us once service.
Find out who is to act as personal representative with authority to deal with the estate, whether appointed executor under a will or entitled by the intestacy rules.
Obtain valuations of assets and liabilities at the date of death, send death certificate to all asset holders so that accounts are frozen.
Complete the application for grant of representation (grant) and inheritance tax return. Whether a grant is required will depend on the assets in the estate.
Collect in the assets by completing closure forms and delivering the grant to the asset holders.
Deal with any income tax or capital gains tax due to HM Revenue and Customs.
Distribute the assets to the beneficiaries.
Personal representatives are entitled to appoint a solicitor of their choice and to have their legal costs paid from the estate. Our solicitors have helped hundreds of personal representatives navigate and complete the administration of an estate.
Usually, the process takes between 6 months and 2 years to complete.
Is there a will?
The deceased’s most recent will determines who should receive a share of the estate (assets left after any liabilities have been paid). The will should also appoint executors, the people the deceased entrusted with collecting in and distributing the assets in accordance with the will and the law.
It is estimated that 60% of people in Britain have not made a will. If there is no will, the intestacy rules determine the distribution of the estate and the people entitled to apply to administer it.
It is a good idea to involve your solicitor at an early stage to avoid any problems and delay later on.
Enquiries should be made to see whether the will you have is the latest version, or whether the deceased made a will at all. Your solicitor will check the will to make sure it is valid and enforceable. If there is no will, your solicitor will gather details about the deceased and guide you through the application of the intestacy rules.
“Thanks for making what I thought might be a complicated matter seem so straightforward”
Do you need a grant of representation?
The value of the estate, the type of assets, how beneficial interests are held and the requirements of individual asset holders determine whether a grant will need to be obtained before assets can be released. This is something we can help with.
“The team were responsive, authentic, kind and compassionate, displaying an agile and engaging approach with us. Clarity was provided as to what was required to be done which helped to make the process bearable.”
Inheritance tax return and claiming allowances
There are three types of inheritance tax return, increasing in complexity depending on the type and value of assets in the estate as well as any inheritance tax allowances that may be available.
“My sister and I felt reassured that the firm would be able to do a good job and be approachable at a particularly difficult time.”
Collecting in and distributing assets
Collecting in the assets an distributing them to the beneficiaries is known as administering the estate. This stage of the process is likely to take the longest, as there are many issues to deal with.
The timing of the distribution is important, as distributing too early risks a claim against the estate that the personal representative may become personally liable for if protective steps have not been taken.
In addition, there may be questions from HM Revenue and Customs, the Department for Work and Pensions or the valuation office. Matters raised by beneficiaries or by disappointed third parties may cause issues for the personal representative and delay distribution. There may be a property to sell. Finally, releasing assets may be a lengthy process because of asset holders’ inefficient systems or complex requirements.
“Thank you for all your support throughout the rather tortuous process of settling my cousin’s affairs. In addition to your incredible patience throughout, I was, and remain, extremely grateful for your patience and extreme kindness during what was, at times, an unbelievably stressful time. It made an enormous difference having a solicitor who was, above all, friendly and approachable.”