Technically it is just the document issued authorising somebody to deal with the estate. This person is the executor on the Will or if there is no will an appointed administrator.
Everything else around it; paying bills, closing accounts, collecting in assets, paying tax, distributing funds to the beneficiaries etc is the estate administration.
Administering an estate is something that you can do yourself if you wish. However, it is very time consuming and many find it difficult to deal with the burden and emotional stress and therefore choose to use a professional.
Probate is the legal process whereby a named executor administers the estate of someone who has died.
Probate is the legal process whereby a named executor administers the estate of someone who has died. An executor is legally responsible for administering an estate and distributing assets in accordance with the deceased person’s Will.
The Law allows you to nominate a family member or friend (known as a “Lay” executor) to dispense your will.
Sometimes a loved one may die without having left a Will, however their estate must still be dealt with according to the Law.
To ensure that your wishes and those of your loved ones are adhered to and in accordance with the rules and laws of intestacy, it is strongly advisable to appoint a professional to handle matters. This is where Your Will Made Easy can help.
