When a family loses a loved one, there are likely to be many things going through their mind. In many cases, one of the biggest concerns is that they are unaware of what practical steps they need to take in order to deal with the estate.
Estate administration (sometimes referred to as Probate or Confirmation in Scotland) is the process of dealing with a person’s legal and tax affairs after they’ve died.
It is estimated that around two thirds of the British public do not have a Will. If they die without making one, they are said to be dying ‘intestate’, meaning that the Crown will decide how their estate will be divided up.
Following a bereavement, there are a number of tasks that need to be considered and completed. This can make an already difficult time even more stressful.
Many Wills may have a Trust written into them but there is often confusion surrounding the reasons why it has been included and what it actually means.
Figures released recently by Citizen’s Advice showed a sharp increase in the number of queries regarding intestate estates, due to the deceased not leaving a Will.
When someone close to you dies, it can be difficult working out what to do and in what order. One task that you will need to consider fairly soon after the death is the process of dealing with all the assets and liabilities associated with the person – this is known as estate administration.
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