How long will it take to deal with the estate?

Potential claims causing delays

• Any continuing legal disputes either for or against the estate
• Any debts claims from creditors and the use of statutory advertising to avoid personal liability for the personal representative
• Any estate interests in businesses
• Sorting out pensions and benefits agencies
• Sorting any disagreements between family members over assets

Tax and valuation delays

• Valuation of assets for HMRC – collating information and preparing statements of assets and liabilities for inheritance tax
• Income tax and capital gains tax assessment and administration time
• Collecting in assets, which becomes particularly slow when intending to sell property as part of the estate
• Sending copies of the death certificate to asset holders to obtain confirmation of any assets belonging to the estate
• Obtaining a valuation of any property and personal affects if necessary
• Any enquiries as to any foreign assets which may be within the estate

Beneficiaries

• Tracing beneficiaries if necessary, informing them of any potential inheritance
• A six month time limit for family members to bring family provision claims (see ‘Are there any risks involved in being a personal representative?’)