When a loved one passes away, it is a very distressing time for the bereaved family. You will need expert help to attend to the affairs of the deceased and the transfer of his property, either in accordance with his wishes if he left a Will (Testate Succession), or in terms of Scots Law if he did not make a Will (Intestate Succession).
We aim to provide all the assistance you need in a sympathetic manner, and to help you administer and distribute the estate to the beneficiaries.
We will explain the whole procedure that has to be followed and the way our charges are calculated.
If there is no Will, we will Petition the Court on your behalf to have an executor appointed, and we can arrange the necessary Bond of Caution (insurance) that the Court will require. This step will not be needed if there is a Will that appoints executors.
We will guide you through the identification and valuation of assets:- house, furnishings, jewellery, personal effects, vehicles, insurances, stocks and shares, bank accounts, and other property. We will contact all relevant Banks, Registrars, Insurers etc to advise them of events and confirm the value of the assets. This enables us to prepare on your behalf an Inventory of the Estate, which will be lodged in Court to obtain your grant of Confirmation. This is the official document that is your title and authority to uplift and transfer the deceased’s property to the beneficiaries. We will also assist you with completion of all the tedious HMRC documents that must be lodged with the Inventory.
We can usually also arrange for release of funds from the deceased’s bank at an early stage to settle the undertaker’s bill.
We will advise on, negotiate and attend to settlement of any Inheritance Tax that is due. Believe it or not, it is sometimes possible to take steps after death to minimise or reduce such liability and we will discuss this with you.
If there is no Will, we will advise all family members on their rights in the Estate. Eg surviving spouse’s Prior Rights and Legal Rights, children’s Legal Rights. Even if there is a Will, the children and surviving spouse will have Legal Rights in certain circumstances. In all cases these rights will be explained and quantified so family members can make a decision whether to claim or waive these rights.
Once we have gathered all assets for you we will arrange transfer of assets or payment to the beneficiaries in the agreed proportions and amounts and obtain receipts. A final detailed account showing full details of the administration of the estate will be prepared and provided for your examination and approval.
We realise that this whole process can be a difficult one for you and the family and we will do everything we can to make it as stress free as possible for you, while ensuring that you are kept fully in the picture throughout the administration. |
