Executors appointed under a valid Will are responsible on the death of the testator for ensuring that the terms of the Will are followed in all respects.
Statutory rules set out what must be done in the event that there is no Will. The family may wish to alter the effect of the Will, or of the statutory rules.
The Executors’ duties are to deal with the deceased’s assets (bank accounts, shares and life policies for example) and debts which have to be settled. The Executors must also arrange for the Revenue to be informed of the value of the estate and must pay any assessed Inheritance Tax due on the estate.
We can assist the appointed Executors with the burden of the paper work, we accept appointments as Executors and thereby take on the responsibility. In either role, we are alive to the needs of the recently bereaved and the, sometimes competing, interests of the beneficiaries.
We advise on variations of a Will after death, and post-death tax or estate planning, which may save tax or distribute assets to better effect. In the first instance, please ask for Ann Astbury or John Glass for an interview or advice.
FIXED FEES FOR PROBATE
Tassells now undertakes probate work for a fixed fee depending on the complexity of the estate. The advantage of this is, that our clients will understand from the outset what the legal fees will be, whilst the traditional method based on recorded time was never entirely predictable.
Is there any small print?
Yes. We aim to be completely transparent about our terms of business, and in this context the fixed fee covers all the work we would ususally expect to do in connection with a probate matter. Sometimes, however, there are complications. For example, it could be discovered that the deceased had asssets overseas, or a disappointed relative wants to challenge their entitlement (or lack of it). If something like this arises, we can probably deal with it on your behalf, but we would charge additional fees, which would be fully explained to you at the time.
There are some expenses incurred in almost every probate matter. these will apply whoever carries out the work, and we will itemise these for you as soon as we know what they wil be.
*We would charge, as part of our fixed fee, fees of £7 per name, where we need to carry out identity certification checks on beneficiaries, and £30 on any occasion when we send a payment by telegraphic transfer.
“Probate” is the process of proving that the Will of the deceased is legitimate, and a “Grant” is the Court’s seal of approval. It acts like the “deeds” to the deceased’s estate, without it, the Executor may have trouble proving that they “own” it. Executors have...
“Letters of Administration” are equivalent to Probate where the deceased left no Will or there is something not quite right about the Will. The application process is similar, the person who would take on the responsibility has to give formal evidence to the Court to...
An Executor, a person named by the deceased in their Will as “Executor”, is responsible for managing the financial affairs of a deceased, finding out what it is, and carrying out he terms of the Will so far as the Law will allow. The State will intervene to make sure...