Probate is the process of proving a Will, The executors apply for and are issued with a Grant of Probate confirming their legal authority to administer the money, property and possessions of the deceased.
Intestacy – if a person leaves no will, that is, dies ‘intestate’,the next of kin or beneficiaries apply to the Court to appoint an administrator to act as a Personal Representative. A grant issued to administrators is known as a Grant of Letters of Administration.
Cross Ram & Co has long experience of advising executors, administrators, trustees and beneficiaries. Our aim is to help executors/personal representatives to wind up the estate as quickly and efficiently as possible, overcoming any practical difficulties and mitigating financial liabilities. It is sometimes possible to minimise or even eliminate liability to inheritance tax by varying a person’s Will after their death.
The length of process in administering an estate depends on the nature and value of the assets as well as the complexity of the deceased individual’s affairs. Of course, that will also affect eventual costs.