Useful Info

Probate and Estate Administration can be complex. The information below helps those less familiar with the subject matter understand the process.


What you need to know

When someone passes away, their affairs have to be dealt with. This is known as ‘administering the estate’ or ‘probate’ and is used when talking about applying for the right to deal with a deceased person’s affairs. The procedures that will need to be followed will depend on whether or not there is a Will.

Dealing with the financial affairs of someone who has died can be upsetting for family and friends at such a difficult time. Optimum Probate & Estate Administration are able to assist with all aspects of administering a deceased person’s estates, which includes:

• Liaising with all interested parties and ensuring all monies due to the estate are collected in a timely manner and all debts are paid
• Preparation of the estate accounts and filing the necessary papers with HMRC
• Preparation of the estate accounts to show all monies collected and paid out of the estate
• Distribution of estates under the rules of intestacy, or according to the deceased’s wishes if a will has been left


The role of the Executor in administering your estate


When an individual dies, the executor(s) of the Will become responsible for estate administration. The responsibility of the executor(s) includes:
• Collecting all monies, property, possessions and other assets
• Paying off all debts
• Paying inheritance tax
• Distributing the estate to beneficiaries

The task of administering the Estate will fall to either the Executors appointed under a will or the closest blood relatives if there is no Will. They will be known as the Personal Representative of the estate. A Grant of Probate or Letters of Administration may be needed to administer some or all of the estate to gather in the assets, pay any liabilities and sometimes to calculate and pay Inheritance Tax, and then share out the estate according to the will or the Intestacy rules if there was no will.

"60% of people do not have a Will."

It is perhaps surprising to learn that many people have not prepared a Will, this can create untold difficulties for the surviving spouse and family:
• The family home may have to be sold
• A surviving spouse will not necessarily inherit everything
• An unmarried partner does not have automatic entitlement
• Children may be unintentionally disinherited

There is a Will

One or more ‘executors’ may be named in the Will to deal with the individual’s affairs after their death. The executor can apply for a ‘Grant of Probate’ from the Probate Registry. The grant is a legal document which confirms that the executor has the authority to deal with the deceased’s estate. They can use it to show they have the right to access the deceased’s asset as set out in the Will to administer the estate.

There is no Will

This is known as dying ‘intestate’, a close relative of the deceased can apply to the Probate Registry to deal with the estate.  The applicant applies for a ‘Grant of letters of administration’. If the Grant is given, they are known as ‘administrators’ of the estate. Like the Grant of probate, the Grant of letters of administration is a legal document which confirms the administrator’s authority to deal with the deceased’s estate.


Applying for Probate

The probate process can be very time consuming and involves complicated legislation and financial information, which can be very daunting if you’re not used to dealing with such matters. Typically, the process involves:


Finding the Will

This involves going through the deceased's paperwork and liaising with their next of kin.


Applying for the Grant of representation

Completing the probate application form, or making an on-line application and filing the necessary paperwork.


Administering the estate

Liquidating the deceased's assets to provide funds to pay debts, taxes and the beneficiaries of the estate.


Preparing estate accounts

To show all monies collected and paid out of the estate

Is Inheritance Tax due?


To establish whether Inheritance Tax is due it is necessary to value the Estate by adding up all assets such as property, possessions, money and investments and then deducting the deceased’s debts (including household bills and funeral expenses). This can be a complex matter that we pride ourselves in dealing with.

In most cases Inheritance Tax is due within six months of the deceased’s death, after which time interest is added by HM Revenue and Customs, therefore our speed in dealing with these matters is of huge benefit.