Mistakes to avoid in estate administration
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.