How long does the Winding Up Process take?
It can take anything from six months to 18 months to wind up an estate in Scotland. The type of assets belonging to the estate will affect the timing of the process, as will some complexities in the estate, such as foreign assets owned by the deceased.
What is Confirmation?
Confirmation is a document granted by the court to confirm that the executor is authorised to handle the deceased’s affairs. It is only required if the estate is valued at over £5,000. Some organisations will allow you to handle the deceased's affairs for sums above this; however, it is down to the policy held by the institutions or organisations holding the assets.
How do I obtain Confirmation?
To obtain Confirmation, the executor must list the entire inventory of the estate and a value for each asset. Once completed, the form detailing the inventory must then be sent to the Sheriff Clerk’s office for processing.
How do I obtain Confirmation where there is no Will?
Where there is no Will, you will have to apply for a bond of caution (an insurance policy against any error in the administration). For larger estates without a Will, you will have to apply to the court to become Executor Dative of the estate.
How long does it take to get Confirmation of an estate?
The inventory can take some time to compile, as an up-to-date valuation is required. You will need to obtain details from the various organisations and institutions holding the assets. Once the application is submitted, Confirmation from the court can take a few days to process.
Winding Up & Executry Solicitors in Clarkston, Newton Mearns, Giffnock, Netherlee,Eaglesham, Carmunnock, Stewarton Southside Glasgow
Winding up someone’s estate can seem like a daunting process, and it is likely that you will have various questions about the process. That is where we come in. Our Wills and Executry solicitors are experts in their field, and provide practical, easy to understand advice to those responsible for winding up a relative or close friend’s estate. We understand this is a difficult time, but we will be by your side throughout the process to ensure you carry out your role as executor adequately. We are a small, compassionate team that provides Executry services to families in Glasgow, Clarkston, Newton Mearns, Giffnock, Netherlee, Eaglesham, Carmunnock, Stewarton and throughout Scotland. Contact us today via our online contact form or give us a call on 0141 620 0800.
