Probate and Estates Department
Obtaining a “Grant” to administer a deceased estate can often be more complicated than initially thought. The time it takes to obtain the Grant is typically between 3 or 4 months, but it can easily take 6 months or more and a number of factors can influence this.
- A lost, disputed or damaged Will
- Many assets for which the deceased did not keep accurate records
- Assets situated abroad, with or without a separate foreign Will
- Asset valuation problems (particularly private businesses)
- Family disputes
- Difficulties raising monies to pay Inheritance Tax (IHT) which is due within 6 months of death.
It is often the case that the Executor appointed to act, has little or no experience given the nature of the task they are being asked to undertake. It is time consuming which can be difficult to fit into busy lives.
Having obtained a Grant it will typically take 9 -18 months to complete the administration, although interim distributions of legacies can often be made.
In the event of family disputes, independent advice, or a consideration of the facts by a Barrister may also be needed.
In addition to the routine administration, families may also wish to consider “varying” the terms of the Will itself within 2 years of the death. Careful and professional advice will be needed.
Contact Amanda Perrotton by email or call 01344 862777