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Covid-19 and the impact on Estate Administration

If losing a loved one isn’t hard enough during a global pandemic, the current situation with Covid-19 means that many relatives are unable to wind up the estate of their family members and begin the grieving process. Read below to find out more about Covid-19 and the impact on Estate Administration.

 

Why is estate administration taking longer at the moment?

Bereaved families may face delays in accessing their relatives’ estates, firstly, due to a backlog in the legal system and the social distancing measures in place.

Secondly, the rising deaths due to the coronavirus outbreak, mean it could be months before families are able to start grieving properly.

The passing of a loved one is upsetting for those who are left behind. Understandably, the thought of having to deal with the often-complex process of winding up the estate can be very daunting.  The current restrictions in place to shield people from Covid-19 is making it ever more complex.

The backlog is already substantial and, sadly, the delays could be even longer for people who died without leaving a Will.

In these cases, a beneficiary of the estate needs to apply to the court to be appointed as executor before the application for confirmation can even begin. This process is known as probate.

How do I speed up the process of estate administration?

A professional executor will have the necessary expertise to deal with the estate under these unusual circumstances.

Even without having to navigate these difficult times, there can be many complex matters during the administration of an estate. These include sorting out the deceased’s tax affairs, selling a property, and managing investments. A global pandemic makes this much more complicated.

A professional executor will deal with matters correctly, which is reassuring for the beneficiaries. The executor will know the process inside and out.

Unfortunately, tensions amongst family members and friends are common, which causes difficulties in the administration of an estate. Attempting to make progress amidst a global pandemic, and without being able to meet with the family to discuss such sensitive matters in person, problems can arise.

Nobody wants to discuss their deceased loved one’s financial affairs, over Zoom.

A professional executor will deal with all matters impartially and in the best interests of the estate. All without the need for the awkward virtual meeting.

The digital calls will then used for sharing memories and helping one another through what is a difficult time.

Furthermore, if any of the beneficiaries have any queries relating to the estate, the executors will have the necessary expertise to answer those queries quickly and effectively.

How do I appoint a professional executor?

The Covid-19 situation is going to have an impact on the legal system for quite some time, therefore it’s important to prepare both yours and your family’s finances and get things in order.

Do your research and then make sure you choose a company that you trust. After all, you are choosing someone to handle one of the most sensitive subjects in a person’s life… money.

If you’re seeking advice as to who you should appoint as executors, we can help.  Contact our expert team for a quote or helpful advice on your own personal situation.

You can visit our Estate Administration page for more information, and request a callback.

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