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

The family home can be the most valuable part of an estate, financially and emotionally.  To help deal with this crucial part of the estate administration, we work with specialist property partners to be able to help you achieve the best price, quickly, and to manage the legal requirements of selling or transferring a property. 

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.  

 

Trustpilot

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Distance is no barrier.
My thanks to the team at Kings Court Trust, you handled a delicate situation professionally and compassionately, and I appreciate your dedication to your service. Even though I was thousands of miles away, you treated me as if I was your neighbour. I would recommend the service to anybody, allow yourself the time to focus on what it is that you need to do, and allow a professional company to relieve you of a lot of stress by dealing with the family estate, you will be thankful that you did.

Richard L, TrustPilot Review 2020

Thank you Kings Court Trust!
We decided to use Kings Court Trust after approaching two high-street solicitors who were more expensive and didn't give a fixed fee, or the comprehensive service that Kings Court Trust provided. They also take on all the responsibility and liability, which gave us peace of mind. Our Personal Estate Manager has been truly amazing. There is so much to take in during such a difficult time but everything was always explained clearly and nothing was ever too much trouble. I can definitely recommend Kings Court Trust to anyone and although our estate was quite complex, they completed everything within a year!

Customer, TrustPilot Review 2020

Excellent service and support during a difficult time.
I appreciate how well Kings Court Trust has managed my father’s estate for us. The complete process has been very efficient, which has meant much less stress and worry, often associated at times of bereavement and when it comes to matters involving legal and financial matters. I have always felt confident that I've been able to follow up any concerns, worries or queries with ease. I am completely satisfied with the service we have received and I would definitely recommend Kings Court Trust to my family and friends.

Norman L, TrustPilot Review 2020

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Clifton Black

Need to know more?

Our dedicated team of specialists are always here to help.

0300 303 9000

Monday – Friday: 9am – 5pm

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