Dealing with the death of a close family member is never easy. But dealing with their financial affairs too can add extra stress into the equation. If you choose to handle the estate administration yourself, without professional advice, it can be all too easy - and expensive - to make mistakes.
You should consider the following:
- Is there a will and who inherits?
- Who are the executors?
- Who needs to be informed of the death and what happens next?
- What are the tax implications?
- What deadlines are there?
- What if there are disputes over the distribution of the estate?
- Should a professional advisor be appointed and how much will this cost?
Why use an accountant?
Until recently, only solicitors were legally allowed to carry out probate work. Now the market has been opened up, allowing licensed accountants like BSR Bespoke to handle estate administration on your behalf - taking an extra weight off your shoulders at an emotional time.
We're ideally placed to help due to the level of tax compliance work - and the opportunities for tax mitigation. What's more, if your family member was a client then we'll already be familiar with their financial affairs and may also have been involved in their estate planning - two big advantages when it comes to handling probate matters.
How can we help?
We can deal sensitively and efficiently with both simple and complex estates for our clients and their families. We charge on the basis of an agreed fair hourly rate, which can be much more cost effective than using solicitors or banks whose charges are often based on a percentage of the value of the estate.
Get in touch
For a free initial consultation, contact Neil Looseley: firstname.lastname@example.org