What is estate administration?

The Executor role is not one to be taken lightly; the person(s) responsible are financially and legally liable for administering the deceased’s estate or instructing a legal professional to do so on their behalf. During the drafting of a Will, up to four individuals can be named as Executors. Therefore, the estate administration work can be shared amongst the nominated individuals. It’s worth noting that an individual is under no legal obligation to fulfil the role of an Executor when the time arises. It is an unpaid role, but Executors can be reimbursed for reasonable expenses from the estate.

If you are named as an Executor, you should consider your options; do you have the time and ability to complete the complex paperwork and processes involved in estate administration, or would it be best to instruct a professional?

If you’d like free, impartial advice on the next steps, please contact us.

The Personal Representative is responsible for every aspect of administering the estate. This can include applying for probate (if required), identifying and settling all debts, paying any Inheritance Tax due (if applicable), finalising other taxes, ensuring the correct distribution of all assets, and much more.

However, they can choose to instruct a professional provider if they do not wish to undertake the estate administration process.

Kings Court Trust is an award-winning estate administration provider. We offer solutions to support every family and can complete all of the tasks involved in the process after being appointed by the named Executor or Administrator, relinquishing them of the legal and financial responsibility associated with the role.

It is difficult to predict exactly how long estate administration will take. Each estate is unique, and unexpected interruptions or difficulties could delay the process. However, as it is a process that involves a lot of administrative tasks and legal paperwork, it should be expected that it will take months rather than weeks. When a Grant of Probate is required, there may be additional delays from the Probate Registry, as stopped applications and internal backlogs can cause difficulties.

A Grant of Probate is a legal document that gives the Executor the legal right to proceed with estate administration. Probate is not always required, but it will generally be needed in cases where the deceased had solely owned assets or property. It is likely not required if the assets are jointly owned, as they will automatically pass to the surviving owner. Also, if the estate is low in value, most financial institutions will release funds below £5,000 without a Grant of Probate.

Some Solicitors and probate specialists charge an hourly rate, whereas others calculate a fee that’s a percentage of the estate value. This is usually between 1% and 5% of the value of the estate (plus VAT).

Certain probate specialists will provide a fixed fee to administer an estate. This will be based on the work involved and the complexity of the case. Kings Court Trust works in this way, providing a fixed, upfront quote so that you have full transparency and can make an informed decision.