The Financial Conduct Authority (FCA) is currently reviewing how firms and professionals support bereaved customers. Its research found that fewer than half of bereaved customers (47%) felt they received the support they needed, with unclear procedures and long delays among their most common concerns. For executors, these challenges can be especially difficult. Administering an estate often involves complex legal, financial and practical responsibilities at a time when people are also coping with grief. In these circumstances, professional support can help reduce stress, improve efficiency and lower the risk of costly mistakes.
Why estate administration can be so challenging
Executors are often appointed because they are trusted family members or close friends, rather than because they have legal or financial expertise. When someone dies without a will, the law decides who administers their estate, which may not always be the most suitable person for the job. Yet the role carries significant responsibilities, including identifying and valuing assets, contacting banks and investment providers, dealing with probate applications, preparing estate accounts, settling debts and tax liabilities, and keeping beneficiaries informed.
In some cases, this can also involve managing inheritance tax paperwork and addressing disagreements between family members. Taken together, these tasks can make the administration of an estate feel daunting, particularly during a period of bereavement.
How professional support can help
Professional support can ease both the practical burden and the risk involved in estate administration. Solicitors and probate professionals can help ensure the estate is progressed properly and efficiently, while also reducing the likelihood of avoidable delays or errors. For many executors, taking advice at an early stage can provide reassurance, clarify the next steps and help ensure that legal and tax obligations are met correctly.
How our Inheritance Tracing team can assist
Our Inheritance Tracing team provides practical, professional support to executors and families throughout the administration process. We can assist with identifying and valuing assets, contacting financial institutions, dealing with missing information, preparing probate applications and guiding families through each stage of the administration. Where there are communication difficulties or sensitive family dynamics, we can also act as a professional point of contact to help matters progress as smoothly as possible. We work closely with our colleagues in the Contentious Probate team who are on hand to provide support when estate disputes arise.
At a time when bereavement services across the financial sector are under scrutiny, executors continue to face significant challenges in administering estates. While many people take on the role out of a sense of duty, they do not have to manage everything alone. Early professional advice can help reduce stress, avoid unnecessary complications and give families greater confidence that the estate is being dealt with correctly.
For support with estate administration, please contact our Inheritance Tracing Team on 0330 390 3321 or email inheritance@tayloremmet.co.uk