After the death of a loved one, the family must deal with the legal implications relating to any property owned by the deceased. This is dealt with in an executry.
We at Jain, Neil & Ruddy have a great deal of experience in assisting with executries. We are sympathetic to the range of emotions your loved ones will be going through at such a difficult time, and strive to provide an efficient service to make the process of administration as pain free as possible.
If there is no Will
When a person dies without leaving Will, they will leave what is known as an intestate estate. The law on intestate estates is different from that on testate estates and there are various legal rules which set out how an intestate estate must be distributed. The process of administering an intestate estate is very similar to that of a testate estate. There are however, certain additional requirements:
- Firstly, an application to the court must be made to appoint an executor (normally your next of kin). This will then give them the authority to administer your Estate in accordance with the law. There are only certain classes of persons who can be appointed as executor.
- Furthermore, in most cases, it will be necessary to obtain an insurance policy to cover the value of your Estate. This is what is known as a bond of caution.
We at Jain, Neil & Ruddy are able to draw on our experience to guide their clients through the entire process.
If there is a Will
When a person dies leaving a Will, they leave what is known as a testate estate. In such circumstances, the deceased person will have chosen the person or persons they wish to be in charge of ensuring the provisions in their Will are followed. These persons are known as Executors. Executors have an important job as they must ensure the Estate is distributed in the way the deceased person intended. They will also be required to sign important legal documents pertaining to the Estate. Executors are assisted in the winding up of an estate by a solicitor. It is our job to explain the executry process and ensure all the legal requirements are fulfilled.
Once an executor has been appointed, we can proceed with the administration of the Estate. At Jain, Neil & Ruddy we deal with all aspects of winding up the deceased’s estate whether there is a Will or not. We can guide you through the process of making investigations into the Estate and liaise with all financial organisations on your behalf. We can also assist in compiling an Inventory of the Estate which requires to approved by the Court. In Scotland this is known as “Confirmation” (in England, it is known as “Probate”). Thereafter, we can assist with the distribution of the estate in terms of the Will or in terms of the law of intestate succession.
We will also provide you with clear advice to allow you to mitigate inheritance tax liability and maximise distribution to your beneficiaries.
Occasionally, disputes can arise following the death of a loved one and again, this is a matter we can assist you with should you find yourself in such a situation.
If you require assistance with the administration of an Estate then please do not hesitate to contact us.