Page 6 - Savigny Brochure FLIPBOOK

probate.
Assistance with Probate
Probate is the administration of your estate after your death. It is an essential process but can be complicated.
What is Probate?
When you write a Will, you appoint an Executor to administer your estate after you die. If your estate is worth more than £5,000 your Executor will have to apply for a Grant of Probate.
Savigny can assist Executors through the detailed bureaucratic process, easing the burden on your loved ones.
Trust Savigny to help
Many family members who are appointed as Executors in Wills have no idea of their responsibilities and often don’t know they have been appointed until the Testator dies.
If Executors feel unable to take on the role, we can assist with estate administration taking away the burden and offering peace of mind when many are grieving.
Responsibilities of Executors
• Securing the assets – the Executor is now legally responsible for the assets of the Testator (the person who has died) and may need to secure the property and belongings e.g. change the locks, switch off utilities etc.
• Insure the assets – they must ensure that the house and contents are insured
• Arrange the funeral – an Executor duty that normally also involves the family
• Assess the death estate assets and liabilities
• Calculate whether there is an Inheritance Tax liability, complete the relevant forms, agree with HMRC and arrange to pay HMRC
• Arrange for the Grant of Probate, which gives legal authority to the Executors to deal with the Estate
• Call in assets
• Pay debts and liabilities
• Complete estate accounts
• Distribute the estate according to the Will