Deceased estate administration
When a person passes away, somebody must deal with the deceased’s estate, that is, with the various assets and liabilities of the deceased. This responsibility usually falls to the executor of the deceased’s Will, or to the administrator where there is no Will.
What are the duties of executors & administrators
The duties imposed on executors and administrators include:
arranging the funeral, ascertaining the assets of the estate,
calling in the assets with reasonable diligence,
ascertaining the liabilities of the estate,
discharging the liabilities with reasonable diligence,
keeping proper accounts and records and avoiding conflicts of interest
ensuring appropriate distribution to beneficiaries
What is a grant of probate or administration
Executors may or may not need to obtain a Grant, either of Probate or of Administration (‘Grant) depending upon the way in which certain assets were held by a deceased and their value.
A Grant is a formal document made by Court order. It confirms the authority of the nominated executor or administrator to administer the estate and deal in the deceased’s assets.
The process of administering a deceased’s estate can be more complicated if, among other circumstances:
the deceased held diversified assets
the deceased belonged in a blended family situation
the estate is subject to a claim by others
allegations of testamentary incapacity are made
Malcolm Burrell at MG Burrell Wills & Probate can guide you through the complexities of this process.
Malcolm’s assistance is tailored to take account of your unique and individual circumstances.