Probate

Probate is a term often used to cover the whole process of administration of a deceased person’s estate.

Until 2014 the process of preparing the Executor’s Oath or applying to the Probate Registry was a restricted legal service that only solicitors could deal with. The ICAEW successfully applied to be a regulator for Probate services and Larking Gowen have completed the necessary training and qualifications and are one of the first firms to be licensed to provide these previously restricted Probate services.

At Larking Gowen we are able to offer executors and personal representatives help with probate administration, at which is a difficult time after suffering a bereavement.

Additionally, as chartered accountants and tax advisors we are well placed to advise on all aspects of taxation relating to the estate and beneficiaries and have considerable experience in negotiating with HMRC.

Our probate services

The steps involved in administering a deceased estate include the following:-

  • Establish the assets and liabilities as at the date of death
  • Prepare tax returns and computations
  • Application for Grant of Probate or Letters of Administration
  • Call in assets and settle liabilities 
  • Deal with Income Tax and Capital Gains Tax liabilities of the estate 
  • Distribution to beneficiaries
  • Preparation of final estate accounts 

We can work with the executors named in the Will or can act as executor ourselves. We are happy to provide a service that suits both you and the complexity of the estate. For those that are happy to deal with some of the work themselves we can help with the tax returns and correspondence with HMRC or we can deal with all aspects so that you do not have this worry following a bereavement.

Our experience in dealing with personal tax affairs and HMRC means that we can advise on Income Tax, Capital Gains Tax and Inheritance Tax matters in a joined up way that enables us to minimise the overall tax liability. For our existing clients we often have much of the information required to deal with the Estate on our files and this enables us to process the Probate application quickly and efficiently.