The loss of a loved one is a deeply emotional experience, and the subsequent legal and financial matters can feel overwhelming. At Bradshaw Lawyers, we understand the complexities of estate administration and are committed to providing compassionate and expert guidance through this challenging process.
For an increasing number of families, they find themselves in dispute over how to distribute the estate, either because someone has been excluded from the will, or because the will is old, poorly drafted, or does not meet the intentions of the deceased for any number of reasons. We have the experience to administer estates where there are family disputes, including where the executors themselves are in dispute.
What is Estate Administration?
Estate administration is the legal process of managing a deceased person’s financial and legal affairs. This involves a series of tasks, including:
Identifying and gathering assets: This includes locating all property, bank accounts, investments, and other valuable possessions.
Paying debts and taxes: Settling outstanding bills, credit card debts, and taxes is a crucial step in the process.
Distributing assets: After debts and taxes are settled, the remaining assets are distributed to beneficiaries as outlined in the will or according to intestacy laws (if there is no will).
The Importance of Legal Guidance
While it's possible to handle estate administration independently, engaging the services of an experienced lawyer is often beneficial. A legal professional can provide expert advice, ensure compliance with legal requirements, and help to prevent potential disputes or delays. They can liaise with beneficiaries objectively and without becoming involved in underlying family tensions. At Bradshaw Lawyers, we have the experience to administer estates which include off-market shares, international assets, businesses, trusts, or any other unusual circumstance your family might have.
Probate Application vs. Letters of Administration in Deceased Estates
Two key terms often arise in estate administration: probate and letters of administration.
A Grant of Probate is a Supreme Court document recognising the named executors has having the authority to administer the estate.
A Grant of Letters of Administration is a Supreme Court document recognising the named applicants as having the authority to administer the estate. However it is the document granted by the Court either when the deceased did not leave a will, or where none of the executors named in the will are willing (or able) to seek a grant of probate.
Before either document is granted by the Court, applicants must advertise of their intention to seek appointment. If there is no objection, the Court does not usually require a hearing and will make the award without you needing to attend.
However, where there is an objection either because there are multiple applicants for a grant or because there is a challenge to the validity of the will, a formal hearing may be required for the court to test the allegations being made.
Why Obtain a Grant of Probate?
Securing a grant of probate is often a crucial step in the estate administration process. If you are entitled to a grant of probate, it may not actually be necessary to obtain; our lawyers are experienced in advising on when an estate might avoid that expense. However, if you are not entitled to a grant of probate, but require letters of administration, it is usually not possible to avoid letters of administration, though again, a Bradshaw Lawyers solicitor can assist in determining this with you.
The usual reasons for obtaining a grant of probate include:
Accessing frozen assets: Many financial institutions will freeze accounts upon a person's death. A grant of probate provides the legal authority to access these funds. While not always necessary, many institutions will require a grant if the assets held exceed a stated amount, though the amount varies from institution to institution.
Protection for Executors: If the Executors apply for a grant, they will be protected against the discovery of any later will (unless they knew about it). Therefore many executors who are not beneficiaries choose to apply for probate to ensure that they receive this form of protection. It can be very important in circumstances of family dispute, suspected elder abuse where they might have been taken to a new solicitor without anyone else knowing, or where someone changed their will regularly and used different lawyers.
Specific circumstances: If the deceased resided in a nursing home and had paid a Refundable Accommodation Deposit (RAD), obtaining a grant of probate will be required by the home before making any refund to the estate.
At Bradshaw Lawyers, we understand the complexities involved in estate administration, including matters related to nursing home residency and RAD refunds. Our experienced team can guide you through these processes efficiently and compassionately.
Think of estate administration as a puzzle. With our experience, we can help you piece together the complexities and provide you with the clarity and support you need during this difficult time.
Disclaimer: This information is intended as general guidance and does not constitute legal advice. It is essential to seek professional advice for your specific circumstances.
Comments