Our accountants are equipped to deal with probate matters, providing peace of mind with tax expertise and completion of submissions on your behalf.

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Probate is a legal process that has to be faced in the event of someone’s death. It’s a difficult and stressful experience given the emotional circumstances of a loved one passing away. Having a trusted advisor by your side to take care of the financial matters removes the strain of handling the whole process yourself. While it is not always complex, it is a longwinded and potentially drawn-out procedure that can generate unwelcome tax liabilities without the right professional advice.

That’s where we can help.

As trusted advisors, we often assist several generations of the same family, forming life-long relationships along the way. It therefore makes it easier for us to deal with the probate process on your behalf as we have a comprehensive understanding of your financial affairs coupled with a deep knowledge of tax.

Our South West team is made up of skilled tax advisors and accountants who will work to minimise your tax liability and ensure the probate process is as smooth as possible. We will provide support, clarity and advice throughout to make things less daunting.

The process will differ greatly depending on whether or not there is a will. The will should identify who needs to apply to deal with the estate (the executor). If there is no will, the next of kin must apply for the grant of letters of administration.

The grant of letters of administration allow the executor to instruct the banks, brokers and other custodians of the deceased’s assets as to what should be done with them. However, any inheritance tax (IHT) needs to be paid before probate can be obtained. This means that the starting point is to value the assets and calculate the IHT liability making sure that all available reliefs are claimed.

We advise on and assist with:

  • Preparation and submission of the relevant IHT accounts, together with any supplementary pages.
  • Preparation and submission of the application for a grant of Probate/Letters of Administration with Will Annexed/Letters of Administration.
  • Dealing with the administration of the estate, including preparation of the estate account and preparation and submission of estate tax returns.
  • Once the estate is determined, provision of advice and assistance to distribute the assets of the estate to the relevant beneficiaries in accordance with the Will/Intestacy Rules.