Once probate has been obtained it is time to “unlock” the assets and settle the liabilities, making distributions to the beneficiaries and accounting to them for the estate.
However, it is not simply a mechanical process as we advise that you also consider other areas such as whether it makes sense to vary the will and the position of the surviving spouse or partner, both in terms of their tax exposure and any care home fees.
The areas covered in this section are:
- variation of the will – the reasons why this may be sensible and the potential pitfalls
- collecting in the assets
- settling the liabilities of the estate
- making distributions to the beneficiaries
- transferring assets
- reviewing the position of the surviving partner
- avoiding care home fees
- investing the monies
- winding up the estate
As always, there are some useful letter templates on the templates section and look out for the red type which will take you directly to relevant areas of the internet.