Headed up by Joel Newman and Joel Weitzman, The Probate Practice is our NLP resident company which deals with the ‘Ins and Outs’ of Estate administration after a person’s death.
As part of our Nyman Libson Paul group of companies, it is important that you know about the services we can provide to help our clients / contacts prepare for the second and most morbid certainty in life: Death.
The Probate team has the expertise to tie up all matters quickly, efficiently and as painlessly as possible whilst advising on ways to minimise the Estate’s liability to taxes.
Estate administration is a tricky maze of complex protocols involving legal, financial and taxation information, however our expert team are on hand to help shoulder the client’s burden at this inevitable difficult time. There are obvious benefits for NLP existing clients to use our Probate Practice services as we are likely to have much of the financial and tax information in-house which will simplify / shorten the process which in turn helps to keep the costs to a minimum.
The Probate process can be lengthy, complicated and requires the deceased’s personal representatives carrying out the following steps which we can do (or assist) on their behalf:
- Reviewing the final will of the deceased
- Valuing the deceased’s Estate
- Preparation of Inheritance Tax Return and advising on the options for the payment of the IHT liability
- Preparing the Executors Oath according to the relevant circumstances
- Applying for the grant of Probate (or Letters of Administration in the case of intestacy)
- Administering the estate, including liquidating the assets to pay debts and taxes and in preparation for passing to the beneficiaries of the estate
- Preparing estate accounts
- Distributing the assets to the beneficiaries in accordance with the will, or the intestacy law if there is no valid will.