I am appointed as an Executor. Can I handle the administration of the estate without professional advice?

The short answer is yes, you can.

As part of the process, you can also apply for probate yourself online or by post (if probate is required). You could also choose to deal with the majority of the estate yourself but to only instruct a probate specialist to obtain a Grant of Representation on your behalf. Depending on the value and nature of the assets held at the date of the deceased's death, the probate specialist would also deal with the inheritance tax position before making the application for probate. Once the Grant has been issued, you can then carry on with the administration of the estate yourself.

However, there are a number of factors that affect the complexity of the administration of an estate and which may complicate the process. These include the total value of the estate at the date of the deceased's death, the assets involved, the terms of the Will, the beneficiaries, potential claims against the estate to name just a few.

Regardless of complexity, administering an estate can be an onerous task making it very easy for an executor, who is likely to be unfamiliar with the process, to overlook certain aspects which may cause issues during the administration process or in the future. It is important that you administer the estate correctly and efficiently to fulfil your legal duties and responsibilities as an executor and we can assist you to:

• correctly identify and value the assets and liabilities of the estate
• arrange for searches and notices to check for later wills, unknown assets and creditors
• calculate and apply the correct inheritance tax allowances and reliefs and submit accurate inheritance tax accounts on time
• liaise with HMRC regarding the tax position and settle the tax liabilities to limit any interest owed and avoid penalties
• draft and submit the application for the Grant of Representation
• deal with estate agents during the marketing of the property, assist with clearance arrangements and related transactions such as insurance, council tax and utility bills
• notify and deal with queries from beneficiaries, acting impartially to avoid potential disputes
• collect in the estate assets to our client account and settle the liabilities and expenses
• produce a full set of estate accounts for your approval to show what has been undertaken in the estate
• undertake bankruptcy searches on beneficiaries before payment and make direct payments to their bank accounts, whether in the UK or abroad

If you would like advice or assistance to navigate the process of administering an estate, please contact a Teresa or Laura within our Probate Team to arrange an appointment.