The death of a relative is both a distressing and stressful experience for family members. After the funeral of a loved one, the family must deal with the legal implications related to the property belonging to the deceased and this is dealt with in an executry.
When a person dies and leaves a Will this is known as a testate estate. In making a Will, the deceased has made a decision on how his or her property is to be distributed after death. He or she will also have chosen persons to carry out the wishes contained in the Will. These people are known as executors and are usually family members or a solicitor. Executors have an important job as they must ensure the estate is distributed in the way the deceased intended and they are required to sign important legal documentation in relation to the estate. Executors are assisted in the winding up of an estate by a solicitor. It is our job to explain the executry process and ensure all the legal requirements are fulfilled. The service we provide includes:
- Ascertaining and valuing all the assets in the estate.
- Preparing documents for the estate to be confirmed by the court (Confirmation).
- Gathering in the estate.
- Dealing with issues in relation to inheritance tax.
- Ensuring beneficiaries receive their legacies.
When a person dies and no Will has been left, this is known as an intestate estate. It is not an uncommon occurrence for there to be no Will but, the law on intestate estates differs to that of testate estates and legal rules set out how an estate must be distributed. We can advise you on how the estate should be distributed in accordance with the law.
The administrative process of winding up an intestate estate is very similar to that of a testate estate. However, there are the additional requirements of:
- Applying to the court for an executor to be appointed (executor-dative).
- Applying for insurance cover in relation to the estate (bond of caution).
It is understandable that an executry may appear complex and daunting. Our job is to ease the process and deal with the legal aspects of administering an estate so that the ultimate aim of distributing the property to beneficiaries can be achieved.