Estate Administration and Probate

When a person dies, their estate must be dealt with and transferred to the beneficiaries. This is necessary by law. If the deceased individual did not have a will in place then the law will deal with the estate administration through the rule of intestacy. The process of dealing with a deceased individual's estate and assets is known as 'Estate Administration'. The procedure will most frequently begin with an application for what is known as a 'grant of representation'.

During the development of a will, the individual will name someone who they wish to be their executor. This means the person who, upon the will owners' death, is responsible administering, gathering and distributing the property and possessions that constitute their estate. If you have been named in someone's Will as an executor you will need to secure a Grant of Probate before you can carry out the expected executor duties. The following are examples of assets that will definitely need this Grant of Probate, before actions can be made with them:

• Stocks and shares

• Some types of insurance

• Property and land which is in their name

In the situation where the named Executor does not wish to carry out the expected duties, due to any personal reasons, an administrator is appointed by law to settle an estate. The executor or the administrator of an estate is referred to as the 'Personal Representatives' and they are responsible for the administration of the estate.

Estate administration is not always required, there are some circumstances where the deceased's estate does not require estate administration. The following detail areas where it is not required:

• Where a home is held in joint names and the other owner is still alive, the estate will pass by survivorship to the other joint owner.

• Where a joint bank or building society account is held, production of a death certificate may be sufficient for the money to be transferred to the joint holder.

How long does estate administration take?
Estate administration has no set time it will take to complete. It will be dependent on a variety of factors. The very fact that someone close to the people involved has died can understandably result in time being taken to mourn the loss before thinking about estate administration. However, on average probate takes between six to nine months to complete.

The following list details some areas which can cause a delay in estate administration:

• Any individual who believes they have the right to claim the estate has six months from when probate was granted to make a claim against the estate of the deceased.

• What the deceased owned: The time it takes for estate administration will vary on the size of the estate to be handled. One single flat will take less time to administer than various houses across different continents.

• The location of the assets that the deceased owned: Whether locally accessible or in a different country.

• Whether or not the financial affairs of the deceased were in order. If the deceased was in debt the estate may be used to cover the costs of these before handed out to beneficiaries.

Estate administration can be a very emotional undertaking for the families of the deceased. It can be very stressful trying to deal with their loss at the same time as trying to deal with estate administration. That is why I would always advise individuals dealing with estate administration to seek professional help in the form of professional solicitors.

I am a legal writer who specialises in Probate, if you would like more information about estate administration and would like to find a solicitor, I suggest you have a look at lawontheweb.co.uk.