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Our Private Client Services

Probate & estate administration

Estate administration & accounting

We realise that dealing with the legal requirements following a death can be difficult. It is not always easy to recognize when an estate will be complex. PWT Advice are experienced in ascertaining how much time and effort the administration of an estate will involve, whether the Executors or Administrators would benefit from inheritance tax planning advice and exactly how much help they will need to complete their task. Many people have complicated family circumstances, assets outside of the UK or complex tax issues to consider.

We take a practical view of estate administration and work closely with the Executors or Administrators, providing legal, tax and practical advice throughout the process. We can help you as little or as much as you need and our expertise means that we can highlight aspects which otherwise might be overlooked.

Fees

As with fees for our other services, we like to be transparent and will always give a considered estimate for the cost of each stage of the process, allowing you to decide whether to proceed with or without our assistance. We do not charge a percentage of the estate value but rather in relation to the time that we spend working for you. As we can hold funds on behalf of the estate in our client account this removes the necessity of going through the arduous process of opening Executors' accounts with a bank. It also helps to make the preparation of estate accounts easier because all the financial information is to hand.

Tax

We provide a full administration service, preparing tax returns for the administration period and ensuring that all tax liabilities are settled prior to distribution in accordance with clear and easy to understand estate accounts.

One of the Executor's duties is to account to HM Revenue & Customs ("HMRC") for any tax due from the deceased. This includes income tax on income received during the deceased's lifetime and also during the administration period. Capital gains tax may be due on assets disposed of within the administration period. We can deal with estate tax returns and advise on tax payments due and whether any refund of tax can be obtained.

Post-death tax planning

It is not a well known fact that a beneficiary can vary a Will or intestacy within two years of the testator's death or disclaim their entitlement without effecting their own tax position. This can be an extremely useful inheritance tax planning tool allowing the beneficiary to control the gift and make sure that it works for them and their family in the most tax efficient way.

We would be happy to explain the options in more detail.

Experience

We are used to dealing with a broad range of clients, both professional and individual Executors and Administrators, beneficiaries, individuals and charities, banks, building societies and HMRC. Some have previous experience in estate administration and others do not. We can work fast and efficiently with those who are aware of their responsibilities and provide practical guidance to those who are not.

Our experience extends to international aspects of probate and administration especially those matters involving cross-border tax issues, high value and foreign estates.

We can assist with:

Please Note it is important to remember that whilst an Executor under a Will has authority before the Grant of Probate is obtained i.e. an Executor can sell the deceased's personal effects, someone applying for a Grant of Letters of Administration (in an intestacy, where there is no Will) does not have authority before the Grant is obtained.

For a no-obligation discussion, call us on + 44(0)345 833 9025

We've listed the areas we can advise on in detail but we don't want to waste your valuable time. If you're not sure whether we can help, just email us or call on + 44(0)345 833 9025. We're happy to have a look at your issues and confirm if we can help.