What is estate administration?
The assets, debts, pensions and so on of the person who's died - that's their 'estate'.
Estate administration means sorting it all out from start to finish. It includes paying inheritance tax (if there is any - it's due after about 5% of deaths), closing accounts, selling shares, transfering money to beneficiaries, and so on.
The difference between probate and estate administration
Proof you’ve got the authority to sort things out.
An official court documentOften needed to unlock the assets of the person who’s diedObtained from HM Courts & Tribunals ServiceNeeded after about half of all deaths in England & WalesTakes a month or so to prepare the forms and get the grantCan be time - consuming and stressfulDoesn’t have to be done by a solicitor
Sorting out everything.
A processDifferent every time, depending on the circumstancesSometimes it’s easy, sometimes it’s very complicatedUsually, one part of it is getting probateIncludes sorting out bank accounts, shares, property, inheritance tax and beneficiaries.Usually takes 6 - 18 months depending on complexityDoesn’t have to be done by a solicitor