Probate and Intestacy Advice Probate and intestacy advice solicitors in Milton Keynes

Estate administration includes responsibility for collecting in and valuing the estate assets, calculating and paying any Inheritance Tax due and preparing detailed estate accounts. The personal representatives can be held personally liable for any errors that result in a loss to the estate, even if these were genuine mistakes.

Often, those appointed as personal representatives, known as Executors, do not have the time or the expertise to take on the administration of an estate. At Heald Solicitors, our Milton Keynes based expert probate lawyers can deal with the winding up of the estate on your behalf, ensuring that all of the necessary legal issues are dealt with, that the process goes smoothly and is dealt with as quickly as possible.

We can represent you throughout, to include the sale of any property, settlement of Inheritance, Income and Capital Gains Tax, the discharge of the deceased’s liabilities and distribution of the estate to the named beneficiaries. For most clients, this can be of great help at what is often a stressful time.

The Probate Process

If someone has left a Will, then after they die it is usually necessary to apply to the Probate Registry for a Grant of Probate. This is the legal document that will give their executor the authority to deal with the winding up of the estate, to include appointing a solicitor to carry out the task on their behalf, should they wish.

To obtain a Grant of Probate, it is necessary to make an application to the Probate Registry, part of HM Courts, as well as declaring the value of the estate to HMRC and calculating and paying any Inheritance Tax that may be due at that point, as well as making sure that any balance gets paid in the future.

Once probate has been issued, the estate administration can be carried out, with all of the deceased’s financial affairs finalised and their wishes in their Will carried out.

We are aware that these are often difficult times, and we look to provide a stress-free probate and estate administration service which includes the sale of any property, settlement of Inheritance, Income and Capital Gains Tax, the discharge of the deceased’s liabilities and distribution of the estate to the named beneficiaries.

Of course you can undertake to take care of the probate and administer the estate without our assistance, but the work can be detailed, and may take up to 12 months to complete. Please note that an executor or administrator can be held personally liable for any mistakes that are made.

Intestacy advice

When someone dies without leaving a Will, they are said to be intestate, and their estate will pass in accordance with the Rules of Intestacy. Someone will generally need to apply to the Probate Registry for a Grant of Letters of Administration, appointing them as the estate administrator. The work is similar to that done when someone leaves a Will, but can be more challenging to carry out, for example, if beneficiaries are missing and have to be traced.

How is an estate distributed under the Rules of Intestacy?

The distribution of an estate without a will follows a specific hierarchy:

If the deceased was married or in a civil partnership and had children:
The spouse or civil partner inherits the first £322,000 of the net estate. They also receive all personal possessions (also known as chattels).Half of the remainder of the estate goes to the spouse or civil partner, with the other half divided equally among the children.

If there is a surviving spouse or civil partner but no children:
The spouse or civil partner inherits the entire estate.

If the deceased left children but no spouse or civil partner:
The children share the estate equally.

In the absence of a spouse, civil partner, or direct descendants, the estate is distributed to other relatives in the following order of priority:

• Parents
• Siblings or their children
• Half siblings or their children
• Grandparents
• Uncles or aunts or their children
• Half uncles or aunts or their children

Understanding these rules is essential, as they determine who inherits the estate and in what proportions, ensuring an orderly transfer of assets in the absence of a will.

The work is similar to that done when someone leaves a Will, but can be more challenging to carry out, for example, if beneficiaries are missing and have to be traced.

Deeds of Variation

It is open to those who are inheriting an estate to agree to vary the terms of a Will or the intestacy rules by executing a Deed of Variation. This could be to benefit someone who would not otherwise receive an inheritance or to maximise tax-efficiency.

We can advise as to whether a Deed of Variation would be beneficial in your particular circumstances. For more information on Probate and Intestacy matters please contact our Wills and Probate team.