PROBATE & ESTATE ADMINISTRATION

Probate can be simple or complex. What is your task?

Most people don't know what the answer is. Only by getting comprehensive and expert help do they realise how involved, or not involved, it will be. We provide two options of service - Executor assistance and Full Management. Estate administration is a delicate time where we must bridge the gulf between family needs and accepting the realities that need to be addressed. Edmunds & Eve is fully sensitive to the stresses and anxieties that interfere with the healing process. The smallest obstacle can seem to be a mountain at times. So, we do everything in our power to smooth out the pathway, as well as complete the administration of the estate as quickly and efficiently as possible.

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PROBATE AND HOLISTIC MANAGEMENT

Where our service differs from the norm is, in our application of a ‘holistic’ approach. We fully appreciate the job that you have in hand. And, we do more than sympathise. There are many offerings 'out there', to grab your business on the ‘we are cheapest’ basis. We cannot say that we do not want your business. Neither will we say that we are cheap. What we can say is, that each family is different and want different things. Fundamentally, each wants value. So, only by talking with us and let us know what you are looking for, will you come to discover the market and how we support you through your executor role.

 

We begin our transaction with a FREE no obligation consultation. Up to an hour. This helps you to learn about us, and lets us to learn about you and your wishes, and to quote you a fair and reasonable price. All-in-all, we will guide you through a safe journey, to complete your administration requirements. Of-course, if all you want is a little 'hand-holding', and the knowledge to get you started for you do the rest by yourself, then you will decide at the time. The decision is yours.

WHAT IS ESTATE ADMINISTRATION?

Estate administration is the process of ‘closing down’ the affairs of the deceased person.

It means dealing with all their assets and lifetime arrangements including:

  • Collecting in their personal possessions
  • Closing bank accounts
  • Managing shares and investments
  • Changing ownership of any property (business or personal)
  • Paying all taxes and getting rebates
  • Dividing personal possessions
  • Managing money owed by them and to them
  • Transferring inheritance to the beneficiaries of the estate

Estate administration can be extremely complex and is required after every death.

FREQUENTLY ASKED QUESTIONS

The word ‘probate’ is a short-form of the term 'Grant of Probate' which is used in England & Wales.

The term ‘probate’ comes from the Latin probare, 'to prove'. And is the procedure that ‘proves’ the authenticity of a Will to be the last Will of a person who has died.  It makes the Will a public document and verifies the executor(s) of the Will.  This authority is obtained from the Probate Registry and gives the executor(s) the power to act for the estate.  Note that if there is no Will, then the Probate Registry will issue 'Letters of Administration'.

And, depending on the nature and value of the estate of the deceased, ‘probate’ may not always be required.  However, the administration part and closing of the estate, is, always required by law.  Also, if a financial body like a bank requires a 'grant of probate' to release the deceased persons funds.  Note that the term ‘probate’ has come to be used synonymously with the term ‘estate administration’, in both public and professional parlance. There is a large difference between them.

Therefore, there can be a mite of confusion when vastly different prices are quoted for the service of probate from one company to the next.  The sequence in the procedure is that the Probate Registry deals with probate. The authorisation to act for the estate. This is the starting component for a full ‘estate administration’ once probate has been authorised.  So be aware of what you are being quoted and what for.

Probate is required by law when the deceased person leaves a valid Will and has assets above £5,000, or if a financial body like a bank requires a 'Grant of Probate' to release the deceased person's funds, or he owns a property.  If all the assets are held jointly with another, like a spouse say; then probate may not be required because the estate will pass by default to the survivor or joint party.

Note though, even though an estate may not have to be probated, it does have to be administered to close it down.   Estate administration deals with the legal management of a person's estate after he has died.  To close it down.  It includes organising his personal possessions, paying debts, collecting dues, paying inheritance tax, paying income tax and other tax, paying bills, etc.  All before any transfer of inheritance to the beneficiaries can be considered.  And then the official transfer of inheritance.  And closing the books.

Our business practice works from the holistic view, because every person and family is different. That is, the whole picture has a bearing on the matter at hand where one function cannot be applied in isolation, and expected to be right.

We offer two service modes.  ( a ) Full Management. Here, we take complete care of everything, or, ( b ) Executor Assist. Here, we will give you a hand to hold, to get you started.  From there, on you will run on your own.

With our Full Management option, you leave the challenging matters to us;  all for a fixed price.  We will take the legal and emotional load off your shoulders, so that you can get on with what you would have been – if you had not been called to be executor.

Your consultant specialist will take the time to talk with you and learn about the details that are needed.   He will ask lots of questions like, is there a Will?   How many properties are there?   Is there a surviving spouse? etc. etc.   These questions will help us provide you with an accurate, fixed price quote based on 1.3% of the estate to be probated.

For what we provide, our rates are highly competitive.  That is for a ‘complete administration’. Not merely for completing some paperwork to release the Grant of Probate, and let you believe that it is now finished.

The process of administration in even the simplest of cases, can take several months to complete.  It needs to be guaranteed that nothing is going to crawl out of the woodwork to stand in the way of completion.  Whether simple or complex, we will keep you in the ‘loop’ and informed at set stages of the process.