Understanding estate administration
Estate administration is the process of collecting in assets, settling debts and taxes, and distributing the estate to the correct beneficiaries.
This process can range from straightforward to complex, depending on the size of the estate, the type of assets involved and whether inheritance tax is payable.
Executors and administrators have legal duties and personal responsibilities. These can include:
- Identifying and valuing assets and liabilities
- Applying for the appropriate Grant
- Reporting and paying inheritance tax
- Settling debts and expenses
- Distributing the estate correctly
- Preparing estate accounts
In some cases, beneficiaries may wish to alter how an estate is distributed after death. This can sometimes be achieved through a Deed of Variation, subject to strict legal and tax requirements.
Our role is to ensure the estate is administered properly, efficiently and in accordance with the law.
How we can help
Full estate administration
We can manage the entire process on your behalf, from obtaining the Grant through to final distribution.
Inheritance tax support
We assist with calculating inheritance tax liabilities and preparing the necessary HMRC documentation.
Asset collection and distribution
We liaise with banks, financial institutions and other organisations to collect assets and distribute funds correctly.
Preparing estate accounts
We prepare clear estate accounts so executors and beneficiaries understand how the estate has been managed.
Advice on Deeds of Variation
We advise on whether a Deed of Variation is appropriate and prepare the documentation where required.
Support tailored to your needs
Whether you require full administration or assistance with specific stages, we can provide a service that suits you.
