In this article, Wills & Tax Specialist, Holly Munro explains what happens to online accounts when someone dies, and how you can ensure your executor can manage your digital estate effectively.
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When someone dies, somebody who was close to them has to deal with their "estate". A person's estate is considered to be made up of the money, property and any possessions they had at the time of their death. The process of Probate involves collecting any money that is owed, settling any debts due (including outstanding taxes) and dividing the estate amongst the respective beneficiaries.
All assets (including property) in an estate will remain frozen, until the Probate Registry gives the authority (via a document know as a Grant of Representation) to the individual(s) nominated in your Will, the "Executor". If you have no Will, then it is up to the most appropriate member of the family member to act on behalf of the estate.
Wills and Estate Administration
If there is a Will the estate will pass to the people named in the Will. If there is no Will certain rules known as the Rules of Intestacy will apply.
Whether you are an Executor or the next of kin, we can provide practical guidance to help you deal with the administration of someone's estate. We can help you determine the size of an estate for Probate and Inheritance Tax purposes. We can prepare an application for the Grant of Representation on your behalf and help you lodge the required forms with the relevant organisations to collect monies due to the estate and settle any outstanding debts.
We can arrange the transfer or sale of any shares and work with our residential property team to handle the sale of any property or land owned by the deceased.
Book a Free Appointment
Contact a member of our Private Client Team to arrange a free initial appointment at either our Christchurch or New Forest office where you can meet your solicitor to see if you 'get on with them' and find out more about the process and likely outcome.
