The State of the Estate

The Problem

It is common for the surviving family to misunderstand how to close down the deceased's estate or even understand the procedure to do so, this then slows down the estate closure (probate) and distribution of the assets to the beneficiaries.

It is also very common for the estate's appointed representatives to be unable to track down all of the important documentation. This could lead to valuable assets being overlooked leading to financial loss for the beneficiaries which in turn causes undue stress and worry.

The Money Advice Service website confirmed that it is estimated that £850 million is lying in lost bank accounts and National Saving and Investment accounts.

Closing down a deceased estate is time consuming and not a simple process.

The Solution

The solution is to simply store all of the important documentation and financial details in a safe and easily accessible place, keeping those details up to date with regular reviews.  Any advice required resulting from that review would be referred to our professional partners.

In addition to this, it is vitally important to have professionals on hand who can help with advice,  offering a guiding hand along the way, as your personal and financial situation changes.

This will ensure your estate passes  to the right people, at the right time without unnecessary delays and time when the family is grieving and struggling within the passing of a loved one.