Mrs A died leaving adult children. The relationship between the children was strained, with suspicions running high. Oliver & Co Solicitors were appointed as professional Executors in Mrs A’s will to help manage the family dynamic and to keep an element of impartiality.
Funeral arrangements
This decision proved helpful, as having professional Executors enabled the children to direct any queries that they had during the Estate administration to Oliver & Co Solicitors directly. This was particularly helpful as each of the children wanted to arrange different parts of the funeral. Having an independent professional Executor enabled them to get on with organising the funeral and agreeing reasonable funeral expenses to be reimbursed from the Estate with an independent party rather than dragging out the funeral arrangements due to family disagreements.
Inheritance Tax Return and the valuation of assets
Mrs A also held a wide range of assets, including a property in the UK and a property in another country. The nature of Mrs A’s assets meant that it was necessary to prepare an inheritance tax return reporting the value of all of the assets.
Having an independent professional Executor meant that the process of obtaining probate valuations and completing the inheritance tax return was completed as efficiently and accurately as possible, taking the pressure away from the children and avoiding arguments about which of the children was taking on the bulk of the work.
Benefits of Oliver & Co Solicitors as Professional Executor
Having a professional Executor therefore provided the following benefits:
- Impartiality – having an independent professional hear all sides and make the final decisions.
- Accuracy – ensuring that the inheritance tax return was completed accurately the first time and arranging for the payment of any inheritance tax.
- Efficiency – providing a streamlined approach and meeting the common goal of all of the children to administer the Estate as quickly as possible.
The choice to appoint professional Executors proved to be an essential decision in managing a complex Estate and keeping family tensions at bay. Our expertise and impartiality ensured that the process was handled smoothly, efficiently, and accurately.
To discuss this further with a member of our team, please contact willsenquiries@oliverandco.co.uk or fill out our enquiry form for our staff to contact you and discuss how we can assist.
