ProTrust – Estate Administration

We offer the following Estate Administration services:

1. Probate and Estate Administration
2. Executor Guidance
3. Variation of Inheritance
4. Completing IHT Forms
5. Lifetime Property Trusts

We specialise in the following areas:

• Estate administration: of Wills and estates on death;
• Probate assistance;  guidance through the Probate process and requirements;
• Inheritance Tax advice and assistance with all aspects of the completion of IHT400 and other forms including the Residence Nil-Rate Band (RNRB) reliefs;
• Discharge and delegated service for Executors : acting for Executors and Trustees in discharging their duties under the Will and associated trusts.

We are dedicated to serving our clients, working with and alongside your other advisors in providing the best overall service.

Please contact us for an initial face to face meeting or zoom call/discussion.

What is Probate?

“Probate” is a term which means validating a Will or generally to confirm who is responsible for the winding up of a deceased person’s estate. The Executors of a valid last Will have legal control of that process and as a firm, we are instructed by Executors (or Administrators where there is no Will) to assist in all areas of their legal and administrative duties.

Estate Administration

In summary, the administration of an estate is a simple or complex process depending on a number of factors.  It is generally known as the process of

• valuation of estate assets and liabilities for the purposes of filing an Inheritance Tax return at HMRC;
• the applying for a Grant (of Probate or Letters of Administration) from the Probate Registry;
• paying all liabilities and any Inheritance Tax (IHT) from the deceased’s assets;
• collecting in monies and/or transferring Estate assets such as property to beneficiaries,
• ensuring distributing the estate to the beneficiaries under the terms of the last Will (or to the next of kin in a set priority order where there is no Will, under the laws of Intestacy).

Expert Assistance

There are a number of side-issues associated with each of those actions listed above, on which advice should be sought to provide support and legal expertise. Such advice can also lead to money savings for families, for instance:

1. Advice on claiming all appropriate Inheritance Tax reliefs including the recently introduced Residence Nil-Rate Band (RNRB) allowances.
2. Advice on important decisions relating to selling or keeping the family home or a property that is due to be passed to children of the deceased. Ensuring that appropriate CGT reliefs are applied and advising on ongoing ownership structure can be valuable assistance to the family.
3. Advice on intended family arrangements such as the best approach for one beneficiary to purchase the property share of their sibling(s).
4. Advice on ongoing protection of assets for the main beneficiary(ies). Inheritance Tax, care fees and protection from insolvency and divorce might be mitigated by the inclusion of trust protections. Advice on appropriate uses of Deeds of Variation can be valuable help to ensure ongoing protection of assets as they pass over to beneficiaries.
5. Advice for beneficiaries for updating their own Wills.
6. Assistance to financial advisors acting for beneficiaries receiving assets.

Our Experience & Expertise

Being involved from the outset of an administration allows us to plan with you the most efficient path to winding up the Estate. We can advise as to the most effective use of our skills and experience and to be involved at the outset assists in a faster, more efficient and effective administration.  We can of course be asked to assist or advise as to one or more specific processes, such as assisting with your Probate requirements or completing a form IHT400.  Our experienced team has all the necessary expertise and experience in dealing with all types of Estate and Trust administration for families, particularly in the ever-changing environment of Inheritance Tax planning.

Whatever your circumstances, we are always sensitive to your requirements and ensuring regular contact and updates with you throughout the process.