Specialist Probate Services

We understand that when a loved one dies, trying to deal with the paperwork can sometimes be overwhelming. It may be that you find locating the paperwork you require to deal with a deceased’s estate difficult or you may already have everything to hand. Whatever your situation, we are here to help right from the start.

Browse the various Probate Services below, or read our case study to find out more. You can also contact us to discuss your probate requirements with a member of our specialist Probate Team.

Probate Application

We gather together all of the information concerning the deceased’s financial affairs and prepare a summary of the assets and liabilities at date of death which we then use to prepare the paperwork required to apply for Grant of Probate or Letters of Administration.

Inheritance Tax (IHT)

We calculate the amount of IHT due on the estate and on any gifts within the previous seven years, as well as complete and file all the relevant IHT forms with HMRC. We can assist Executors with the process of settling IHT due using HMRC’s Direct Payment Scheme and ask our Banking and Finance team to help arrange a loan to fund any IHT due if necessary.

Income Tax

We will sort out the income tax position to the date of death and file any outstanding tax returns, including capital gains. In many cases where someone dies part way through a tax year there is tax overpaid under PAYE and we can reclaim any tax refunds for you.

Estate Administration

Once Probate has been granted, Executors and Administrators are able to close bank accounts, sell investments and properties and transfer assets or cash to beneficiaries under the terms of the Will, all of which we can deal with as part of our service. We can provide tax advice during the administration and ensure that any income or capital gains tax liabilities are reported to and settled with HMRC

Estate Accounts

We can prepare detailed estate accounts for all transactions that have occurred during the Estate period and incorporate these into a report together with copies of important documents, including the Will, the death certificate, the Grant of Probate, IHT calculations and estate accounts – so you can keep these safe for future reference.

Advice To Beneficiaries

We will provide R185 forms to beneficiaries detailing income received from the estate and the tax deducted. We can also assist them with any returns that may need to be made to HMRC as a result.

We can offer tax planning advice for individuals following the receipt of a legacy from an estate.

Dealing With Businesses

If the person who died ran a business this can potentially cause difficulties for the family particularly if they had sole control over the bank account of the business. We can offer help and advice to keep a business running during the estate administration period. We can provide advice and help on how other partners or directors can acquire the business from the estate or sell the business if this is relevant.

We can assist the executors and family in valuing business assets and unquoted shares at the date of death, and agree these valuations with HMRC where appropriate.

Dealing with Property

Sometimes dealing with property in an estate is straightforward, particularly if it is occupied or inherited directly by the beneficiaries who continue to live in it (for example the surviving spouse). It can be a lot more complex if a property is rented or empty and located far away from the executors.

We work with a specialist property firm who can secure, value and take care of any property in the estate until Probate is granted, wherever it is in the country. They can deal with the sale and offer innovative ways to benefit from improving a dilapidated property before selling it.

Trusts

If the Will created a trust we can ensure it is properly registered with HMRC, look after the annual accounts and tax returns, and provide ongoing advice for the trustees.

Contentious Cases

We are unable to act for contentious cases, however, we can refer you to a suitable solicitor and may be able to work on other aspects of the estate administration.

Probate Services – Case Study

We understand how overwhelming it can be when dealing with a death. So, we don’t want you to take our word for it.

We were approached by Barbara and her sibling to assist with the administration of their mother’s estate including gathering initial information, completing IHT forms and probate application and generally advising the executors throughout the process. The estate was complicated by an issue following the death of their father whose estate had been dealt with by a solicitor and we helped to bring that matter to a close. We had provided some useful IHT planning following the father’s death and we also helped to reduce IHT on their mother’s estate.

“I was extremely satisfied with the prompt and efficient service. The advice received was proactive and the team always dealt with queries in a timely manner” – Barbara S

For further information on our Probate services, get in touch probate@baldwinsgroup.com or ring 0330 380 0692.

ICAEW

Services