Following the death of an individual, we can do as much or as little as is required in the following circumstances:
Following death:
Act as executor**
Where there is no family or friend readily available, we can:
- register the death and obtain the death certificate
- secure the house and other chattels
- arrange the funeral
Notify DSS and other pension providers
Notify insurers and other service providers
Notify HMRC
Application for Probate
Obtain the will
Collate and file the financial papers
Obtain valuations of all the assets*
Prepare a schedule of assets and liabilities
Calculate the Inheritance Tax (IHT)
Prepare the form IHT200 (Inheritance Tax Account)
Obtain the Executors’ oaths for swearing
Arrange funds for payment of IHT
Supply all documents to our, or the client’s, solicitor to obtain the Grant of Probate
Administration of estate
Collect in the cash assets
Pay immediate liabilities
Arrange for the final tax return to be completed and submitted*
Reply to any queries from HMRC
Clear the house
Arrange sales of the assets
Assist with running or selling a business*
Complete and submit the estate tax returns
Organise distributions
Prepare estate accounts, interim and final
Provide legatees’ tax certificates
Obtain tax clearances
Distribution tax planning
Consider the legatees’ personal circumstances to:
- mitigate income tax through timing of payments/asset transfers
- minimise capital gains tax by transferring assets to beneficiaries to benefit from their non-resident status or annual exemptions and reduced marginal tax rates
Advise on and arrange deeds of variation
Advise on investment of funds
Advise on IHT and will planning for legatees
Ongoing trust administration
If the estate devolves on trustees:
- complete and submit the form 41G (Trust details)
- set up trust banks accounts
- advise on investment of funds
- act as trustee**
- run the trust*
* Share valuations, personal tax return completion, business consultancy and trust administration are services offered by Vantis
** Vantis partners/directors or Vantis Trust Corporation Ltd can act as executor/trustee