What Happens To Property When A Loved One Dies?

Do you know what happens to property when a loved one dies?

Why Choose Whitings LLP to help with administering the estate?

We understand that losing a loved one can be a very difficult and challenging time. It can often be a daunting process for those appointed as personal representatives with the worry and stress of administering the estate and ensuring the process is dealt with correctly. Those with property can also have Inheritance Tax liabilities.

Many struggle to know who to turn to, but here at Whitings LLP we have an experienced team who are licensed to carry out the reserved legal activity of non-contentious probate in England & Wales by the ICAEW. We can assist with the legal, tax and administrative processes involved in dealing with an estate, which can be complex.

Most importantly we can offer advice and guidance each step of the way.

For existing clients of the firm, we will have an in-depth knowledge of their financial and taxation affairs, business interests and family circumstances. This gives us a head start in giving the personal representatives the best advice and the most cost-effective service. However, we have been working more and more with cases which were not previously existing clients.

What services will be required?

The services required will vary according to the particular circumstances of the deceased. In some cases, all that is required is to collate all the necessary information to make the application for probate on behalf of the personal representatives and complete the relevant Inheritance Tax forms. Once probate has been granted, and the tax paid, the personal representatives can proceed with the administration of the estate themselves. We can also deal with this aspect if you wish.

In the more complex cases, our tax and accounting specialists can advise on: tax reliefs, the scope for mitigation of tax liabilities and valuation of any business or company shares. Indeed we work closely with, or instructing, solicitors on any legal work required.

For will purposes, our partners, named in a personal capacity, can act as Executors. This again makes the whole process much easier.

Get In Touch

To discuss any of the above aspects further, do get in touch with your local Whitings LLP office.

Disclaimer - All information in this post was correct at time of writing.