Probate
Dealing with the estate of a loved one who has died involves a great deal of work and expertise. The person who undertakes this (normally an executor) is responsible for identifying, valuing and collecting in all the assets of the estate, filing accounts with H M Revenue and Customs and paying all inheritance tax that is due. The executor obtains a grant of probate authorising him or her to deal with the estate, completing estate accounts and distributing the assets.
Estate administration
The tasks that need to be dealt after a loved one’s passing can often lead to additional stress at a difficult and traumatic time. We are able to offer you sympathetic, practical administrative and legal support. Our service is “Taylor-made” and ranges from simply obtaining a grant of probate to dealing with all aspects of the estate administration. This means we can do as much or as little work as you need with resulting flexibility on fees. For instance, you may choose to deal with bank accounts while we handle property administration.
Our fees are based on the time taken to deal with your instructions and will be agreed with you in advance. They are charged at the clearly stated relevant hourly rate so that you can ensure you are receiving the best advice without incurring unnecessary expenditure.
Powers of attorney
A power of attorney is a written document by which one person gives to another authority to deal with their financial affairs. This is useful for example to cover lengthy trips abroad. To deal with the finances of a person who no longer has the mental capacity to do so themselves a lasting power of attorney (LPA) is required.
If you are considering granting an LPA do not leave it too late. An LPA is intended to continue to be effective even if the person who granted it has become mentally incapable of managing their affairs. If there is no LPA in existence at that time then the only choice is to apply to the the Court for an order appointing a relative or other person to act on their behalf. However, this procedure is expensive and time consuming and best avoided if possible.
We can assist with the preparation and registration of powers of attorney and also applications to the Court. Our fees are normally fixed quotations or as specified by the Court.
For all probate, estate administration and power of attorney enquiries, please contact colin.thorpe@taylorwillcocks-cheam.co.uk.