Probates & Estate Administration
After you die, a legal process known as Probate will need to be carried out by the person you nominate to administer your estate, known as the Executor, Philip Anthony Associates specialise in Probate Estate Administration.
At Philip Anthony Associates, we offer a service where we can help your loved ones to make this process as smooth as possible.
What is Probate?
Probate is when your Will is granted validity in court and declared a true testament of your dying wishes. To gain access to your estate, your Executor(s) will need a Grant of Probate which will give them permission to settle any debts and distribute remaining assets.
Obtaining a Grant of Probate can sometimes be a complex and time-consuming task, which requires lengthy forms to be completed and correspondence with legal professionals. This maybe last thing someone wants to do after they’ve lost a loved one.
Once the Grant of Probate has been given, the Executor(s) will then need to manage your assets in a process known as Estate Administration. As part of this process, it is a legal obligation of your Executor(s) to:
- Settle remaining debts
- Calculate and pay Inheritance Tax
- Distribute the remaining assets to the Beneficiaries
If the Estate Administration isn’t dealt with correctly, the Executor(s) may become personally liable for any outstanding debts and unpaid taxes. This is an added stress which we can help you avoid using our Probate and Estate Administration expertise.
At Philip Anthony Associates, we offer different levels of service depending on how much the executors are prepared to do themselves and all our fees are fixed and agreed before any work is commenced.
Our initial meeting is without obligation and any fees for our estate administration service are paid from the estate once the Grant of probate has been obtained.
At PA Associates we work in partnership with Kings Court Trust Ltd, who are probate and estate administration specialists, to offer our Clients and their families free practical advice and support when someone passes away.