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What is Probate?

According to the GOV website probate is the legal right to deal with someone's property, money and possessions (their 'estate') when they die. Executors (named within a Will) can apply for the grant of probate to be able to deal with the deceased's estate administration.

What is Estate Administration?

Estate Administration is the process of managing and distributing a person’s estate after they have passed away. This includes everything from paying off debts and closing accounts to distributing assets according to the Will or, in the absence of a Will, according to the law. It's a responsibility that requires diligence and care. It can involve completing tax forms, drawing in and valuing assets, cancelling or transferring utilities and making sure the relevant tax is paid.

The Role of an Executor Explained

An executor is someone you nominate in your Will to carry out your wishes after your death. They play a pivotal role in the probate process, ensuring all your affairs are in order, from paying off debts and taxes to distributing your assets to the beneficiaries.

Who to Pick as an Executor?

Choosing an executor is a significant decision. Ideally, it should be someone you trust implicitly – a family member, a close friend, or a professional. The key is to pick someone who is organised, responsible and importantly, willing to take on this role. Executors can be financially liable for any mistakes so it's vital that they have time and the ability to handle the responsibility.

When Should You Pick a Professional Executor?

Consider appointing a professional executor if your estate is particularly complex, if there’s likely to be contention among beneficiaries, or if there’s simply no suitable person in your personal circle. A professional brings expertise and impartiality to the process, which can be invaluable. This is something that Cloveroak can support with.

The Costs of Professional Executorship

The cost of professional executorship varies based on the complexity of the estate and the extent of the responsibilities involved. While there is an expense, the peace of mind and expertise offered can be worth the investment, especially in complex situations. In the main, we'll be able to give you a fixed cost estimate with regard to probate costs. This often includes the cost of obtaining the grant, handing the estate administration and any other third party costs that might be involved.

Can We Help as an Executor? The Answer is Yes

At Cloveroak Wills, we offer professional executorship services. Emily, our experienced estate planner, has a team of seasoned professionals willing and able to help, bringing expertise in estate planning and administration to ensure everything is handled smoothly and according to your wishes.

Any Questions?

If you have any questions about probate, estate administration, or appointing an executor, please don’t hesitate to get in touch. Emily is here to offer guidance and support, ensuring your estate planning needs are met with care and professionalism.

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