Probate and Trusts

Probate

When someone dies, their personal representative(s) have to administer the estate, either in accordance with the terms of the Will or under the intestacy rules if there is no Will. In many cases this will involve applying to the District Probate Registry for a Grant without which the assets cannot be collected. Further, where a Grant is necessary, a form has to be submitted to the HM Revenue & Customs listing the assets and their value.

Upon instruction by the personal representative(s) we will prepare the necessary Oath leading to the Grant together with the HM Revenue & Customs form and, where necessary, arrange for payment of inheritance tax. On receipt of the Grant we will collect all the assets and distribute them in accordance with the terms of the Will or the intestacy rules. Finally we will prepare an Estate Account showing all the assets and where they have gone.

Trusts

Sometimes completing the administration is not the end of the story. For example, a beneficiary aged 13 at the date of death may have to wait until he is 21 before receiving his inheritance. That inheritance would be held by the personal representative(s) on trust until the beneficiary becomes 21.

Sometimes the Will creates a trust for inheritance tax purposes and the trustees have decisions to make regarding which assets to transfer to the trust. HM Revenue & Customs have to be notified of the existence of all trusts and will usually issue annual Tax Returns for completion by the trustees.

We can deal with all of these matters.

Probate Enquiries

Enquiries relating to probate should be addressed to the Probate Secretary, gloria@brumell-sample.co.uk.