Estate Administration

As well as helping you preserve your estate and structure the succession of wealth through to the next generation it is just as important to administer these arrangements properly. Failure to do so may result in executors and trustees becoming personally liable for loss or even result in the planning that has been carefully planned.

Trust Administration

Trustees have duties to fulfil (see our professional trustee services guide) and part of this role is to ensure certain processes are undertaken;

1. Trust registration and ongoing tax (Inland Revenue) compliance and reporting.
2. Implementation of a trust investment policy statement.
3. Instructing where relevant professional financial advisors.
4. Completing annual trust accounts.
5. Convene trustee meetings to discuss trust objectives, beneficiary requests and investments. The frequency of meetings will depend upon the nature of the trust.
6. Making records of decisions, distributions and professional advice taken.
7. Some trusts will need more involvement than others and some may need little or no management until there are assets held, such as trusts where life insurance proceeds are assigned and the life assured is still alive. (See our Life insurance and death benefit planning guide).

Estate Administration

When someone dies it is often a traumatic time for family, friends and colleagues. What might in normal circumstances be a straight forward task can become confusing and time consuming. It is therefore sometimes easier for an estate to be administered independently and we can offer a full or partial estate service that may involve some or all of the following;

1. Interpretation of intestacy rules where there is no Will.
2. Collection of estate asset and liability valuations.
3. Preparation and submission of Inland Revenue accounts.
4. Applications for Probate or Letters of Administration.
5. Collection of assets and preparation of Accounts.
6. Rearranging estates after death

Professional fees

We will either agree a fixed fee with you for specific work or where you would like us to undertake general administration we will agree a rate based upon the time we think it will take to complete the work. We will never charge a percentage element and promise to regularly update you on progress.

We have individuals and companies that Trust us with arranging their Will. If you want us to help you,

01224 848388

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