Below is a guide to some of the common terms that are used during the estate administration process. Please feel free to get in touch with us if you have any questions about estate administration. Our probate solicitors are happy to answer your questions and explain the process to you.
This is the term given to the person who deals with a person’s estate when there is no will.
The items of value that a person owned such as property, land, investments, bank accounts, money and personal possessions.
This is someone who inherits from a person’s estate, either under their will or under the intestacy rules.
These are charges related to the legal matter that are payable to third parties, for example court fees or inheritance tax.
This is the term used to describe everything that a person owned.
This is the process of collecting and distributing the assets that belonged to the person who has died.
This is the term given to the person who has been named in the will to carry out the instructions of the will.
The grant is a document that is issued by the court and allows the executors or administrators to collect or transfer the assets of the person who has died from third parties such as banks.
HMRC stands for Her Majesty’s Revenue and Customs and is the UK Government department responsible for the collection of taxes.
This is a tax which is payable on the value of a person’s estate when they have died.
This is used to describe the situation of someone who dies without a will.
IHT forms are Inheritance Tax forms.
This is how we sometimes refer to the process of collecting and distributing the assets of a person’s estate once they have died.
Statement of Truth
A declaration that the executor or administrator has to make to confirm that information provided is correct and which forms part of the application to the court for the Grant.
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