Probate

Probate and Estate Administration Services - Confident and compassionate in helping you handle probate

After someone has died, their estate needs to be identified, valued and administered. Probate is the legal process of obtaining the authority needed to deal with the deceased's assets where required.

While much of this will be handled by solicitors and other legal professionals, having an expert to support you with the financial aspects of a person’s estate is valuable.

Dealing with an estate after someone has died can be an emotionally challenging time, so seeking advice can work to reduce much of the stress that is present at this stage.

Our team offers compassionate support with the probate process, so get in touch today.

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The financial side of probate

Taking stock of the full extent of a person’s finances can be challenging as it takes time to understand where money is located, whether debt is owed and the full value of assets.

Understanding and organising financial affairs during someone’s lifetime can make the administration of their estate considerably easier after their death.

If we have advised you or your family during your lifetime, we may already have a detailed understanding of your financial affairs and estate.

This is particularly true if we have assisted with Inheritance Tax planning.

What is the difference between probate and estate administration?

There can often be some confusion as to what is meant by probate and estate administration and many people may use the terms interchangeably.

There is a core distinction between the two that is worth keeping in mind.

Probate centres on proving the validity of a Will and permitting an executor to formally handle the deceased person’s estate.

Estate administration is the process of managing the financial side of an estate in all the forms that this takes.

This means that collecting assets, paying taxes, settling debts and distributing inheritance to beneficiaries will all fall under the scope of estate administration.

Having an expert accountant and tax adviser to guide you through this process can ensure that matters are handled efficiently and with full compliance.

SGD: the team that knows you and your finances

We can act as a single point of contact for the tax and financial aspects of estate administration following a death, utilising our expertise to provide efficient support for you.

We can:

Identify and value the estate’s assets and liabilities
Deal with ongoing pension benefits payable to a spouse or other beneficiary
Bring estate assets under the control of the executors or personal representatives
Carry out identification and bankruptcy searches on potential beneficiaries
Liquidate estate assets or transfer them in specie to beneficiaries, if desired
Deal with payments due to the residuary beneficiaries in the Will
Advise personal representatives on the estate’s Income Tax, Capital Gains Tax and Inheritance Tax position and report to HMRC where required
Provide tax guidance on the implications of Wills
Hold Wills in our fireproof safe, free of charge

Speak to our team for proactive probate support..