Probate and estate administration
Dealing with the death of a family member or close friend is always difficult, and the last thing anyone wants to think about when grieving is how to navigate complicated tax and legal procedures.
Forsters has a dedicated team of probate lawyers who have a wealth of experience assisting with the daunting task of administering an estate, relieving the family of the administrative burden and stress of finalising a loved one’s affairs.
We adopt a pragmatic and empathetic approach when working with personal representatives, family and close friends of the deceased, to help guide them through the intricacies of the probate process at what is so often a distressing and stressful time.
We assist with administrations where the deceased died with a valid will, and those in which no will was made.
How we can help:
International estates
An international element can vastly increase the complexity of the administration of an estate. We are well versed in dealing with cross-border succession and taxation laws, including analysing international treaties and reviewing a deceased’s domicile, so that we can clearly establish who is to inherit and how much tax is due.
We regularly assist personal representatives of individuals who died domiciled in another jurisdiction but with assets in the UK (or with certain non-UK assets that are taxable, such as interests in companies holding UK properties), as well as UK domiciled individuals who held assets abroad. We help the personal representatives navigate tax reporting requirements and the process of obtaining the grant of representation, ensuring the correct application is made. Our broad cross-border experience and contacts in other jurisdictions mean that we can co-ordinate the administration of international estates, so that the personal representatives do not find themselves trying to reconcile apparently conflicting advice given to them by lawyers in different jurisdictions.
HMRC and Inheritance tax
We are very familiar with HM Revenue & Custom’s (HMRC) complex disclosure requirements and valuation principles, and have a thorough understanding of how best to present Inheritance Tax (IHT) returns. This enables us to streamline the reporting process by pre-empting queries that might be raised by HMRC. We employ our technical expertise to review and ensure all applicable IHT reliefs are claimed and maximised throughout the course of the administration.
We are experts in dealing with probate matters for business owners and entrepreneurs, and those with interests in large family structures, whether longstanding companies, country estates or agricultural holdings.
Where there is not enough liquidity to pay the IHT due on the application for the grant, we work with the personal representatives and HMRC so that an agreement can be reached and the administration of the estate is not unduly delayed.
Independent administrators
Where there is an irreconcilable disagreement between the personal representatives themselves, or between them and the beneficiaries, and the administration of the estate has therefore ground to a halt, we are able to step in and act as court-appointed administrators. Our credentials as practitioners mean that we are often appointed to disentangle complex estates and ensure that they are dealt with in a timely manner.
Post-death variations
We appreciate the importance of tax mitigation and passing on wealth to the next generation in the most tax efficient way possible. During the administration, we keep this under constant review and, if appropriate, can prepare sometimes very complex documents to alter the destination of assets so that tax is mitigated, and orderly succession ensured.
