When someone passes away, the task of dealing with the estate left behind will fall to one or more ‘Personal Representatives’. The term used for these Personal Representatives will depend on the circumstances, though their roles and responsibilities will largely be the same.
If the deceased had a Will, they will usually have left instructions for particular individuals to act as an ‘Executor’ and settle their affairs. If there was no Will, or if the named Executors are unable to act, then the Law will assign a family member (usually the next of kin) to act instead as an ‘Administrator’.
Regardless of the outcome, the Executors/Administrators will be responsible for dealing with the full administration of the estate or for appointing a Solicitor to handle this for them.
The key responsibilities of a Personal Representative include:
- Applying to the Court for the Grant of Probate/Letters of Administration
- Completing Tax returns for Inheritance Tax, Capital Gains Tax and Income Tax; and then paying the relevant tax amounts to HMRC
- Arranging for the sale/transfer of all assets in the estate, settling any liabilities, and distributing proceeds to beneficiaries as directed by either the Will or rules of intestacy as applicable.
Advice on Probate
We know how difficult it can be to lose a loved one and we would like to help you by covering some of the basics of dealing with probate.
Essential considerations when completing probate online
We know losing a loved one can be a very difficult and emotional time and that being an executor of a will is a big responsibility. This guide is essential reading if you are considering online probate.
Online Probate – is it always a viable option to take?
Earlier in the year it was announced that a new online service to apply for probate would be introduced. This meant that those applying for probate could do so from the comfort of their own home, potentially negating the need for involvement from a solicitor.
Proposed increase on probate fees scrapped
Following the announcement of the snap general election to take place on 8th June, the government has decided to scrap its plans to increase the legal fees due after a person has died. Having proposed a rise in probate fees in England and Wales to come into effect in May, which would have seen an increase from the current flat figures of £155 or £215 to as much as £20,000 for the most valuable estates, the Ministry of Justice announced in the second half of April that there was too little time for the legislation to go through parliament before the election.
What to Do When Someone Dies
We know from experience that when you lose a loved one it is often difficult to know what to do first. This simple guide will help you prioritise between what needs to be done urgently and what can be dealt with later.
The ‘cost of dying’ is now racing ahead of the rate of inflation
Recent research has revealed that the cost of dying is now the fastest rising fixed cost in the UK, ahead of costs of living including rent, utilities and food.
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