Coming to grips with a significant loss in your life is never easy.
As you mourn and work toward acceptance and peace privately, you may also be inundated with a flood of responsibilities overtly such as making funeral arrangements and managing any outstanding financial responsibilities.
During this stressful period, managing your loved one’s estate may be the furthest thought from your mind, but probate is a necessary step and one that can be done effectively with the right people by your side, and our London-based probate specialists can help you to achieve that.
There are two types of grants concerning probate and we can help in both instances:
- Grant of Probate is when the deceased left a will. This grant gives the executor of the will the legal power to ask banks to release the deceased person’s assets so they can carry out the wishes as stipulated in the will.
- Grant of Letters of Administration can be applied by the administrator when the deceased didn’t leave a will. An administrator is a close relative (following the rules of intestacy) who is given the legal authority to settle the deceased person’s estate.
Why choose an accountant for probate?
Chartered accountants by trade and licensed by the Institute of Chartered Accountants in England and Wales to handle probate, we have the expertise and experience to help you to streamline the probate process and potentially save you a large sum of money in the process. The reason is simple – probate is a heavily numerical process as it requires an expert to access and analyse financial information, value the estate and answer any inheritance tax queries. As London’s local accountants, we are well placed to assist you with the aforementioned points.
In the event that you choose to use a probate solicitor instead of a licensed accountant, your solicitor is likely to enlist help from an accountant to analyse assets and liabilities, which can incur further costs to you. Delegating the probate process to a probate accountant like us enables you to cut out the middleman, thereby making the probate process cheaper and more efficient.
In addition, we charge on a time basis as opposed to a percentage of the assets like what a lawyer or a bank may charge you. If the deceased person’s estate runs into several hundred thousands of pounds, the amount you save can be substantial. Our fees are transparent and there will be no hidden charges.
Our probate service
Using Berley’s probate service will save you time and alleviate any stress you may have throughout the probate process. Depending on your circumstances, we can assist in the following areas:
- Gathering all the financial information (assets and liabilities) of the deceased person.
- Applying either a Grant of Probate or a Grant of Letters of Administration on behalf of the executor/ administrator.
- Preparing any tax returns that are required up to the date of death.
- Inheritance tax.
- Ensuring any liabilities/ expenses are paid before the executor/ administrator distributes the assets.
- Ensuring all assets are distributed in accordance to the will.
- Keeping records.
Berley can help with probate matters
With a wealth of knowledge and proven track record of managing the financial affairs of many individuals and families across London, we understand the situation you are in and will support you throughout the probate process.
If you’d like more information pertaining to probate, you can check out:
- Our probate page
- Dealing with probate
- Understanding the difference between an LPA and a grant of probate
- How can Berley’s probate service help you?
Alternatively, give us a call 020 7788 8261.