Winding Up of an Estate
When someone passes away their assets and debts require to be dealt with. How an estate is divided is regulated either by the details in their Will or dictated by Succession Law.
This can be made more difficult where there is / has been family friction. Some family members who are not named in the Will can be entitled by law to a share in the moveable assets (anything other than the house).
This claim, called a Legal Rights claim can be claimed up to 20 years after someone has passed away. Depending on the size of the estate an executor ( the person appointed by the Will or by an application to the Court called a petition where there is no Will) will require to submit an application to the Court for Confirmation ( this is the Scottish equivalent to Probate in England or Letter of Administration).
Where there is no Will a Bond of Caution will be required which requires a solicitor to be appointed to deal with the whole estate.
Note that the house of a deceased person cannot be sold unless there is a certificate of Confirmation.
Our solicitors can deal with all aspects of the winding up of the estate or just the legal parts such as the drafting of the Confirmation. We can also deal with submission of IHT accounts where an estate is liable to pay Inheritance Tax or in Deeds of Variation where a deceased family wish to vary the details in a Will.
