Administering An Estate
When someone dies leaving a Will, the Executors have to obtain a Grant of Probate from the Probate Court. If there is no Will, a Grant of Letters of Administration has to be obtained by a relative from the Probate Court. In each case the Grant enables the Personal Representatives to collect in the assets, pay debts and Inheritance Tax and transfer the estate to those entitled under the Will or on intestacy (if there is no Will).
Administering an estate is often a complicated process and requires the input of a professional with experience in the field. Bowcock & Pursaill can fulfil that role. Not infrequently we advise that steps can be taken by means of a Deed of Variation to alter the entitlement of beneficiaries so as to save Inheritance Tax. If a Will is administered strictly in accordance with its terms, valuable opportunities can be lost because Wills are not always kept up to date with current tax legislation.
Bowcock & Pursaill can act as Executors of Wills and we can help in the administration of the estate by our independence. We would always take into account the wishes of the family and other beneficiaries.
The fee we charge depends very much on the circumstances of each individual case. We will give you an indication of the likely cost involved when we know all the facts. Probate is often a complex task. Not infrequently the fee we charge is more than made up for by advice we give which results in the saving of Inheritance Tax.
