Estate administration is a term that refers to one of the legal processes that occurs after someone’s death. It involves a series of tasks undertaken to handle the deceased’s remaining legal and financial affairs. These tasks can vary. However, they usually include such things as:
- Information gathering
- Tax documentation
- Minimising inheritance tax
- Applications for probate
- The closing of the deceased’s accounts
- Concluding any outstanding legal proceedings
- Asset management
- Settling outstanding debts
Additional tasks may be necessary. Furthermore, some items on this list may not be necessary, depending on the circumstances.
The person – or people – who perform these tasks are known as executors. These people will have been appointed by the deceased during the Will-writing process. Due to the nature of these tasks, the role of executor is almost always assigned to a legal firm or solicitor.
What Is The Difference Between Probate And Estate Administration?
Probate is a small part of the business of estate administration. It marks the beginning of the process and provides the executor with the legal power to carry out the work of estate administration.
Estate administration covers a wide variety of legal processes. It involves managing the distribution of the departed’s assets, as well as their unfinished legal business.
How Does Estate Administration Begin?
There are a number of issues that need to be resolved before estate administration can begin. These tasks are generally considered a part of, or a prelude to, probate. If you are looking to smooth the process of a loved one’s passing, make sure that the following tasks are completed:
Obtain A Death Certificate
There are two main ways to get this certificate:
- The first is procured if it is an expected death. An expected death is one where the departed’s passing is not considered suspicious and not subject to investigation. In these cases, the certificate will come from the hospital or doctor that declared the death.
- The second is an unexpected death. These are cases in which the death is subject to an investigation in order to rule out foul play. When this happens, you will instead be given a death certificate by the coroner
If, for any reason, you lose your copy of a death certificate, you can order a new one here.
Register The Death
Once you have a certificate, the death must then be formally registered. You must register a death within 5 days of receiving a certificate in England or Wales or 8 in Scotland.
Announce The Death
This stage is not a legal requirement, but it is encouraged. You should inform the family and friends of the deceased that they have died, especially any benefactors of the will. This is common courtesy and establishes a model of fair behaviour among the deceased’s benefactors.
Other parties that are professionally linked to the deceased should also be informed. These parties should generally include those who would take note of the deceased’s absence. These include schools, employers, carers, and employment offices. You should also consider any services that might need to be cancelled, such as cleaners, gardeners and hairdresser appointments.
Establishing A Will
Finding the Will is vital to the reasonable and smooth facilitation of inheritance. It can generally be found in the care of the deceased’s executor, as well as their solicitor.
If someone dies without a Will, this is known as dying intestate.
How Long Does Estate Administration Take?
This depends almost entirely on the amount of estate to administer, as well as the content of the Will. It also depends on who is administering. A family member, for example, is going to take much longer to untangle assets than a qualified solicitor.
Regardless of who is handling the deceased’s affairs, one should generally expect these matters to last a number of months. This accounts for the time it takes to appropriately wrap up assets and to see them fairly distributed according to the Will.
Arranging The Funeral
This is the last step before estate administration can begin.
If possible, one should secure the Will before arranging the funeral of the departed. This is because many people leave provisions for their own funeral costs in their Will. As such, the Will can take some of the financial stress out of what is already a difficult time.
Contact Us For Estate Administration Services
For professional, effective and compassionate estate administration services, contact our team at Crowley & Company.
For more information about what we can do to help you through this difficult time, contact us today to learn more.
