Newbie needing clear headed advice on Probate with no will

[BlakSheep]

Hello LBs

I stumbled across this forum and decided to register becasue I am trying to navigate the complexities of being a personal representative on my late parent's estate - they did not leave a will and that is just the start of the challenges. I have appointed a legal firm to help with getting letters of administration. I have siblings and we are all beneficaries. I'm finding it hard to know what to do for the best. I hope I can get some guidance and support here? Thank you for reading so far. BS

[Pezza54]

Hi
You have done the right thing appointing a solicitor to obtain letters of administration.
Did you tell the solicitor you want to be the administrator?
The solicitor will have to complete complex IHT forms, especially if it is a large estate with property or properties

Are you able to locate bank statements and any other investments that your parents had? You need to inform them that your parents have died, providing the institutions with a copy of the death certificates. Ask them for a valuation of all savings, investments at the date of death

Start a list to work out the total estate value. Include savings, investments, property valuation, valuables (jewellery etc), vehicles, furniture, electrical goods. Total the value of the list

For the net estate value, you need to deduct from the total estate value any outstanding loans (mortgage, credit cards), utility bills, insurance, funeral cost etc

The solicitor will want these figures to work out if there is any IHT to pay and if so, how much. IHT normally has to be paid before the letters of administration are granted

Assuming you are intending to be the administrator, you should secure any property, ensuring insurances, utility bills are paid

Did the registrar provide you with Tell Us Once reference number? You will need this number to access the Tell Us Once service on gov.uk

[Pezza54]

Just seen another thread started by OP today providing more info on problems being faced with other beneficiaries

Much of my reply is out of date - within a few minutes of posting.

[BlakSheep]

Thank you - all advice appreciated. This is a multi-layered issue one of which was the asset search. So I may need further guidance.