What is estate administration?

Estate administration is the process of dealing with a person's legal and tax affairs after they've died

This means dealing with all their assets (such as property, shares and personal possessions), paying debts, paying any Inheritance Tax and Income Tax and transferring the inheritance to the beneficiaries of the estate. Estate administration can be extremely complex and is required after every death - whether or not there is a Will.

What could be involved in estate administration?

Every estate is different, but there are various stages of the estate administration process which are required in most cases. If you have any questions during the process, you can ask your Personal Estate Manager. They will keep you updated at each stage along the way.

All Paperwork

Gathering information

We'll contact banks, HMRC, the Department for Work and Pensions, creditors and other financial institutions. We'll let them know we're acting on your behalf and ask for date-of-death valuations.

Probate

Preparing tax forms and applying for the Grant

Our tax team will prepare the relevant tax forms. We'll also apply for the Grant of Probate (Confirmation in Scotland). We do this in our name and take on any liability, on your behalf.

Estate Accounts

Closing accounts

Once we've received the Grant of Probate we'll send it to banks, mortgage companies and anywhere else the deceased had an account, policy or debt. We'll close accounts and collect funds.

Property

Completing the legal work

If the Will contains a Nil Rate Band Discretionary Trust, we'll write to the Trustees. Our legal team will then work on Trusts within the Will, property transfers and other legal tasks like statutory declarations or dealing with Cessate Grants.

Legal & Tax

Selling and transferring assets and paying debts

We'll sell any shares and assets within the UK and overseas. If there are assets to be transferred to beneficiaries, we'll organise it. If we have sufficient funds, we'll pay off the debts and make interim distributions to other beneficiaries. 

Valuing Assets

Selling property

After valuing the property, we’ll sell the property or transfer it to beneficiaries. Your Personal Estate Manager handles this process, including liaising with estate agents and the buyers' solicitors.

Sorting

Finalising tax work

Our tax team will complete the Income Tax return and submit it to HMRC. We'll confirm the final Inheritance Tax position and obtain 'clearance' from HMRC. We'll reclaim any overpaid Inheritance Tax. We'll also pay any remaining debts.

Trusts

Producing estate accounts

We'll produce full and final estate accounts and send them to you and all the beneficiaries. If you have any questions, we will answer them.

What to do if you've been named as an Executor

Consider the responsibility

The role of an Executor is not one to be taken lightly as the person(s) are financially and legally responsible for administering the deceased’s estate. It is an unpaid role but an Executor can be paid for reasonably incurred expenses. Additionally, they are the only person(s) who can instruct a legal professional to administer the estate on their behalf.

CLICK TO VIEW THE EXECUTOR CARD

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See what our clients say about working with us

Our purpose is to help families move on during the difficult time of losing a loved one. We are proud to receive comments from those who entrust us to take care of the estate administration process.  

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An excellent professional service which took the stress away from me and my brother by having a brilliant Personal Estate Manager to deal with our mum's estate. We were updated regularly on the progress of each stage that had to be completed, and all our emails were responded to quickly. They give you a fixed fee quote to carry out the work so you know exactly how much it will cost, and their fees are very reasonable. They completed all the work a lot quicker than we thought by finalising the estate accounts and distributing the funds in less than a year (9 months to be exact).

M Snell, TrustPilot Review 2019

I have asked Kings Court Trust to progress with my very complicated estate after some misinformation from the previous solicitor firm. From the beginning, the Kings Court Trust team were very professional and explained the whole process in detail. They took the time to make sure I understood it all. The price was quoted from the beginning so I knew exactly how much I am paying - all right from the beginning. No nasty surprises with unexpected bills!

Marek, TrustPilot Review 2019

We used Kings Court Trust to complete the estate administration. They provided an excellent service at a very difficult time for us, and at a reasonable price. Our Personal Estate Manager kept us regularly updated and was very helpful - nothing was too much trouble. The whole thing was handled with care and understanding throughout. I would recommend them to anyone thinking of using a professional service.

TrustPilot Review 2019

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Clifton Black

Need to know more?

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