The advantages of appointing a professional independent administrator

Acting as the executor of an estate can be an arduous, protracted, and, in some cases, a contentious affair, often coming at a time when you are also grieving the loss of a loved one. Birketts’ article, “When to appoint an independent administrator,” discussed the scenarios in which it may become necessary to appoint a professional independent administrator. In this article, we highlight some of the many advantages that come with the appointment of a professional independent administrator.

Independent administrators are usually professionals

Independent administrators are typically professionals who deal with estate administrations on a daily basis. As such, they are well versed in making the necessary filings with HMRC in relation to inheritance tax, having done so countless times previously, and can navigate the UK probate system. Professionals also know what information they need to administer an estate (assets and liabilities) and how to go about getting it. These factors mean that estates being administered by professional independent administrators will usually progress much quicker and, hopefully, result in beneficiaries receiving their entitlement much sooner.

Independent administrators should be fair

A professional, third-party independent administrator should be fair and unemotive; they will not favour one beneficiary over another as they have no personal interest in the estate other than to affect its administration in accordance with the testator’s wishes and the law.

Independent administrators should help reduce stress

The appointment of a professional independent administrator can remove a significant amount of stress and tension from the estate administration process, particularly at a time of loss. There is less stress for individual beneficiaries in knowing that the administration is being handled by a professional and, hopefully, less tension between the beneficiaries themselves as, if they have an issue, they can take it up with the neutral and professional independent administrator.

Independent administrators can help to navigate disputes

Professional independent administrators are often appointed in instances where a dispute has arisen, either in relation to the underlying estate or in respect of the administration and the identity of the executor(s). Whatever the case may be, a professional independent administrator is well placed to navigate any dispute which may arise in connection with the estate and to ensure that the estate’s interests are protected throughout.  

Conclusion

The appointment of a professional independent administrator can be an extremely effective remedy for what might otherwise be an extremely difficult, tense, and stressful undertaking. If you are in need an independent administrator, please contact Birketts’ Private Wealth Disputes Team who can advise you in relation to your particular case.