Finalising the administration of a deceased estate can be a difficult process. The amount of work required will depend on the nature of the assets in the estate, whether the deceased left a will or died without a will called intestacy.
How long does the process take to finalise the administration of a deceased estate?
- The time frame will depend on whether a court application called probate or letters of administration will need to be applied for before the assets in the estate can be fully administered.
- Probate or letters of administration can take anywhere between two months to six months to obtain.
- The administration of the assets in the estate could take a further year before it can be finalised as all the asset in the estate will need to be transferred and/or sold and the appropriate tax advice may need to be sought before decisions can be made.
How much will it cost?
- The costs involved with administering an estate will depend on a range of factors.
- If probate or letters of administration is required the costs involved with obtaining the grant is usually charged on a scale depending on the gross value of the assets in the estate.
- There are additional costs often referred to as administration costs and the costs involved with this will depend on the complexity of the estate, the number of beneficiaries to receive a distribution.
- At Matthews Folbigg Lawyers we will provide you with a written costs disclosure clearly explaining and outlining our costs before we start undertaking work on your behalf.
How can we help you?
At Matthews Folbigg Lawyers we have experienced solicitors who have the capacity to handle all small and large estates. If you are an executor or administrator of an estate, it is important to ensure that the estate is administered properly and in accordance with the law otherwise you could be held personally liable for any loss suffered by the beneficiaries.
