Probate and Trust Administration
When a person dies, they usually leave an “estate”, including money, possessions and property. Dealing with the estate is called “probate” and the length and complexity of the process may depend upon whether a person has or left a will.
A will should name one or more executors who will be responsible for identifying any money and property, obtaining a “Grant of Probate”, paying any debts and then distributing the estate in accordance with the wishes set out in the will.
Without a valid will, the process is similar but involves obtaining Letters of Administration and appointing an administrator. This can take much longer than obtaining Probate, sometimes leaving a surviving partner with limited access to funds to cover regular bills and expenses.
We know that the time following the death of a relative or close friend is a difficult one and are happy to help with the probate, easing the pressures from you and your fellow executors’ shoulders.
A trust is a legal method of empowering a person (trustee) to deal with assets for the benefit of another person or people. A common form of trust involves managing money left to a young or vulnerable beneficiary.
Trusts have a variety of purposes including managing property, saving tax and protecting capital, and often arise out of probate. We can assist with creating trusts and with ongoing trust administration.