Probate & Estate Administration
At Watts Gregory we understand that the period after a family member has passed away can be extremely difficult and that there may be occasions where assistance is needed to deal with the estate. In circumstances where the firm has been involved in dealing with an individual's tax affairs, or those of a family unit, we are placed in a unique position to assist.
In order to extend the services we can provide to our clients, Watts Gregory has taken advantage of the changes in the Legal Services Act which enables regulated legal services to be provided by appropriately qualified individuals who are not solicitors. Three of our partners have therefore obtained the necessary accreditation and the firm has been authorised by the ICAEW to provide such services. The partners are supported by an experienced team of probate and administration and inheritance tax (IHT) specialists.
It is not necessary for the firm or an accedited individual to be a named executor in a Will (although this is available to our clients) and we are able to provide the following assistance to either Executors, or Administrators (where no Will exists).
- Preparation of probate application forms
- Preparation of IHT forms, including obtaining necessary valuations from third parties
- Calculation of IHT liabilities, payment date(s) and applications to spread the payment of liabilities
- Collecting in assets of the estate and settling liabilities
- Distribution of the net estate to beneficiaries of the Will or in accordance with the Rules of Intestacy (where no Will exists)
- Preparation of estate accounts and finalisation of the estate
It should be noted that the firm cannot act in relation to any contentious estate.
The services we provide can be tailored to your/the estate's needs and we can be flexible in terms of our level of involvement should circumstances change.