Whilst there are straightforward probate cases, there are some complex issues that may arise which can be difficult for people to navigate.
As one of only a few accountancy firms in the UK that are licensed by the Institute of Chartered Accountants in England and Wales (ICAEW) to provide probate services, we are well-equipped at dealing with such cases.
One example of this is when the person who passed away owned rental properties.
When rental properties are involved, not only should the value of the properties be added to the estate, but the renters themselves must be considered.
How can we help?
In one of our previous cases, the estate included a rental property in London. Aside from coordinating valuations for the property to be included in the estate, we were also tasked with communicating with the tenant.
We coordinated with the tenant in relation to viewings and moving forward with the sale of the property, whilst giving notice for their leaving date.
Additionally, as part of our obligations, we diverted the tenant’s rent payments to a designated bank account, which we set up specifically for this client. We had control of this account and paid all the associated property expenses from this account.
There were also a lot of administrative duties that arose including; speaking to utility providers to organise readings, making sure all the bills are paid on time, and ensuring the legal obligations are fulfilled by liaising with solicitors.
After we completed all of the above and the property had sold, it was time to collect and distribute the funds to the relevant beneficiaries.
For one person to handle, this can be very overwhelming, which is why we are on hand to help.
Do you require support relating to probate? Contact our experts today.
