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Obtaining a “Grant” to administer a deceased estate can be simple, but often is not. 3 or 4 months is normal, but it can easily take 6 months or more. This can arise if there is:
- A lost or disputed Will
- Many assets, and the deceased did not keep good records
- Assets situated abroad, with or without a separate foreign Will
- Asset valuation problems (particularly private businesses)
- Family disputes
- Difficulties raising cash to pay Inheritance Tax (IHT)
Having obtained a Grant it will typically take 9 -18 months to complete the administration, although interim distributions of legacies can often be made.
In case of family disputes, independent advice, or a “second opinion” may be needed.
In parallel with the routine administration, families will often want to implement IHT planning, either within the terms of a flexible Trust in the Will, or using the legal facility to “vary” the terms of the Will itself within 2 years of the death. Careful advice is needed.
For further information, and a free initial consultation, contact Helen Webster.
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