estate administration

At Denney King, as specialists in Estate Administration for farmers, we understand the unique challenges that can arise in the estate administration process for farmers and have the expertise to help you navigate this complex task. We understand the dynamics of farming families and the importance of succession planning for the next generation.

As specialists in agricultural law, we have extensive experience handling estate administration matters for farmers. We understand the dynamics of farming families and the importance of succession planning for the next generation. We can help you identify and evaluate the assets of the estate, including land, buildings, equipment, and livestock, and assist with the distribution of these assets to the heirs of the estate. We also have expertise in agricultural property and business property relief, which can help reduce the inheritance tax liability on certain farming and business assets. It is important to work with solicitors who understand these reliefs and can help you take advantage of them to minimise tax liabilities.

In addition to managing the assets of the estate, we can also help you address any partnership or tenancy issues arising for the estate. We can work with you and your other professional advisers such as your land agent and accountant to develop a plan to deal with these issues and help to protecting the assets of the farm for the benefit of the next generation.

If you are facing the task of administering the estate of a farmer, don’t hesitate to contact the experienced lawyers at Denney King. We can provide the guidance and support you need to navigate this complex process and ensure that the interests of the next generation are protected. Contact us today on 07803 366671 to talk to Becci or Sarah about how we can help you.

Estate administration can be a complex and time-consuming process, especially if you are unfamiliar with the legal requirements and procedures involved. While it may be tempting to try to handle the process on your own, there are several common mistakes that people often make when administering an estate, which can lead to delays and additional costs.

Here are 5 common mistakes to avoid in estate administration:

Failing to gather all necessary documents: In order to obtain probate, you will need to provide a range of documents to the probate registry, including the original will, any codicils (amendments), and death certificates. If these documents are not provided, the process may be delayed.
Not obtaining a grant of probate: A grant of probate is a legal document that gives you the authority to administer the estate. If you do not obtain a grant of probate, you may not have the legal authority to carry out certain tasks, such as selling property or closing bank accounts.
Not following the terms of the will: It is important to follow the terms of the will to the letter. If you deviate from the instructions provided in the will, you may face legal challenges or disputes.
Not keeping accurate records: Estate administration involves keeping track of a wide range of financial and legal documents. Failing to keep accurate records can lead to mistakes and delays.
Not seeking professional help: While it may be tempting to try to handle estate administration on your own, it is often more efficient and cost-effective to seek the help of a solicitor. A solicitor will have the expertise and experience necessary to navigate the legal process and ensure that everything is handled properly.

In conclusion, estate administration can be a complex and time-consuming process. By avoiding these common mistakes and seeking the help of a solicitor, you can ensure that the process goes smoothly and that the estate is administered efficiently and effectively. Call Becci on 07803 366671 to discuss how we can help or email her on becci@denneyking.co.uk to request a call back.

Tag Archive for: estate administration

Protecting a farmer’s legacy after they die

Mistakes to avoid in estate administration