After the death of their parents, four siblings found themselves unable to agree on how to progress their parents’ estate. The siblings were all equally entitled to deal with the estate but could not see eye to eye and, as their decisions had to be unanimous, nothing was getting done. The longer this went on, the greater the estate’s financial detriment; liabilities were not being met, rent was going uncollected and penalties and interest were growing against unpaid taxes.
Following several years of stalled progress and arguing through their own solicitors, the siblings agreed to appoint Thomson Snell & Passmore as an Independent Administrator. This relieved them of all pressure and responsibility, and their parent’s estate was collected in and distributed in accordance with their wishes.
Upon being instructed we gathered all of the information held by each sibling. We quickly identified all of the estate’s assets, sources of income and liabilities. We arranged for all previously uncollected and future income to be paid and started working with the estate’s creditors to minimise any further loss to the estate. We applied to the Court for a Grant of Representation to allow us to deal with the estate in place of the siblings, paid the estate’s inheritance tax liability and began calling in the estate’s assets. Within 12 months of Thomson Snell & Passmore being instructed, we were able to distribute the estate to the siblings in accordance with their parents’ wishes, allowing them to move on with their lives.
Thomson Snell & Passmore’s Probate Department has a wealth of experience in dealing with estates where there are disagreements between executors, trustees and beneficiaries. We understand that the death of a loved one is an extremely difficult and emotional time, which can make it difficult to focus on the administrative side of things. In such circumstances, the appointment of an Independent Administrator can be very important. Knowing that a loved one’s estate will be dealt with professionally, independently and transparently can give everyone involved the peace of mind they need at such a difficult time.