When a relative passes away, you will have enough to worry about.
At some point when there is a need to gain access to relatives' assets to try to settle any bills, loved ones are often told they will require a 'Grant' to do this.
A Grant is the legal document which provides authority for organisations to accept the signature of the Executor or Administrator to deal with their loved one's financial affairs. There are two types, one being a Grant of Probate where a Will has been left, or a Grant of Letters of Administration where a person died without one (the term Intestate is used in this instance). Grants are not always required and the general rule is that if an estate has more than £5,000 in it and/or a property, a Grant will be required.
Whilst you can deal with some aspects yourself, this can be overwhelming so we are more than happy to deal with all aspects of an estate. Inheritance Tax becomes payable where an estate is over £325,000 and this then requires dealings with HMRC which many clients find daunting. We can take over this responsibility for you and prepare a full set of Estate Accounts upon completion.
Where there is no Will, a person passes away Intestate. There are strict rules governing the distribution of a person's estate under the Intestacy Laws of England and Wales. We can assist you in working through the deceased’s family tree to ensure the correct relatives receive the funds in addition to dealing with the Grant application and/or the estate.
If you feel overwhelmed, let Eatons help you deal with matters.
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