If for instance you have been assigned as an executor for the will of a certain person, you will need to apply for the grant of the probate to begin on dealing with their certain estate. If ever there will be no will, the task now of dealing with the real estate can simply fall to the closest relative of the person, who will now become known as the administrator. If ever that will be you, you will require to apply for another grant and this is actually known as the letter for administration. Prior to application of either type of grants, you need to gather the necessary information about the estate and have to send it to the Probate Registry after. You can actually hire for the solicitor in order to aid you to do this thing instead of you or you can either have to do this all by yourself.
First step is to work out a certain grant of probate or the letters of recommendations will be needed or not. If ever you are in the doubtful level, you need to seek for the advice from the probate solicitor or the HMRC.
The second step is to value the estate if the grant of probate is needed. The paperwork of the deceased person must be processed to be able to work into the total value of the estate, having an accounts for any liabilities like for example the debts that is needed to be arranged or the payables for the inheritance tax. It is required to send a copy of the death certificate as well as the copy of the will to any institutions that are holding the assets and the final statement of every one of them.
Also, you need to work out if ever the inheritance tax is due or not yet. The inheritance tax can be due already if ever the estate can exceed the threshold or unless the exemption is applied. The IHT threshold can actually be raised until it will include the unused allowance of the partner or the spouse if ever the dead person was a surviving spouse. You can be able to claim the unused IHT allowance once this will happen and on a pro-rate basis.
You can now fill in some number of forms that will be ready to be sent to the Probate Registry once you already have valued the estate and have worked out either the inheritance tax is payable or not.