The administrator of an estate is a person appointed by a court to administer the estate of a deceased person.
In order to administer someone’s estate, you need to apply to the Probate office to have their Will proven or if they die without a Will; you apply to the court to have a personal representative appointed.
When a Grant of Representation is needed
If there is £10,000 or more in their sole name
If there is a property being sold or transferred
If there are shares being sold or transferred
A Grant of Representation is not always needed. For example, if the person who died has left less than £5,000 in their sole name or owned everything jointly with someone else they may not need a Grant of Representation.
In some cases, financial institutions may agree to pay funds to a Personal Representative without a Grant of Representation at their own discretion.
Inheritance Tax
Personal Representatives are also responsible for finding out if Inheritance Tax is due as a result of a person’s death and if so they must pay this.
Timescales
Administrating an estate can take a long time. It can take up to one year and perhaps longer if the estate is complex.
How to get a Grant
At Worthingtons we work closely with Executors and Administrators in a sensitive and pro-active manner to ensure that the administration your estate is carried out promptly and efficiently.
028 9181 1538 