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Administering an Estate
When someone passes away, there are certain steps that must be taken when dealing with the Estate they leave behind. The estate is everything that the deceased person has left behind. These possessions need to be distributed to those who are entitled to receive it. This might not necessarily include bricks and mortar property; it can often just consist of bank accounts, personal possessions, stocks and shares. However, whether or not a property is involved, it may take a while to sort out who gets what, especially if there is no Will or a Will is contested.
What is Probate and When is it Needed?
Probate is the word that many people use to describe the formal authority provided by the court to facilitate the administration of the Estate. If a Will has been drawn up then the person may have speci ed a particular individual or individuals, known as ‘executors’ to carry out that process. It is advisable to have more than one executor, especially if the Estate is particularly large or complex. Where there is no Will this situation known as Intestacy, Probate is normally granted to the closest next-of-kin, who will be called
the Administrators of the Estate. If you are an executor under a will or administrator on intestacy, you may need to apply for probate. Once probate has been granted, you will be able to proceed with administering the Estate, to ensure that close family members and friends achieve the closure they need, as soon as possible.
Who Can be an Executor?
An executor is named in the will, and has usually been noti ed of their role beforehand. An executor does not have to be a solicitor or legal representative - but can rather be a family member or trusted friend. If no executor is named in the will or the deceased has not left a will at all, then probate will usually be granted to one of the bene ciaries in the will, or the next-of-kin on intestacy.
What Does an Executor Do?
The Court will issue a document called a Grant of Representation to the Executor or administrator, as part of the probate process. Those individuals will be responsible for matters such as cashing bank accounts, transferring or selling property or shares, paying inheritance tax that may be due on the Estate, paying any outstanding debts (such as utilities bills, credit card payments etc) and distributing the Estate according to the will or the laws governing intestacy.
What if You Can’t Find a Will?
It is estimated that only about a third of people in the UK have made a Will. So there is more than a
60% chance that the deceased will have died intestate. However, it is important that you double check all paperwork just in case there is a Will that hasn’t been discovered yet, either among the deceased’s paperwork, or left with a Solicitor or the bank. There are also dedicated Will storage service provider that may have the Will. Alternatively you can check with the Principal Registry of the Family Division by calling 020 794 7022 or write to:
The Principal Registry of the Family Division Record Keeper’s Department First Avenue House
42-49 High Holborn
London
WC1V 6NP
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