The importance of record-keeping for probate and how Auderli streamlines the process

Maintaining organised records ensures compliance, transparency and peace of mind. Here’s a look at what records you need to keep and how Auderli can help streamline this process.

Key records you must retain

To comply with UK law, executors should keep:

1. The Will - Include any amendments or codicils.
2. Inheritance tax forms - Copies of signed forms and supporting documents.
3. Asset valuations - Evidence such as property valuations and appraisals.
4. Unused inheritance tax thresholds - Documents showing any unused allowances.
5. Final accounts - Records detailing distributions, including:
   • Letters confirming Inheritance Tax payment.
   • Receipts for paid debts and executor expenses.
   • Beneficiary acknowledgements of distributions.

Why records must be kept for 20 Years

HMRC’s 20-year rule ensures long-term transparency and accountability. Poor record-keeping could lead to legal complications or challenges if records are needed years later.

Challenges of manual record-keeping

Maintaining these records for two decades can be difficult, especially with paper-based systems that are prone to loss, damage or disorganisation. The complexity increases with larger estates involving multiple assets, debts and beneficiaries. Executors often need to manage these duties alongside personal and professional responsibilities, making efficient record-keeping essential.

How Auderli can help

Auderli is a digital solution tailored to the needs of estate management and probate. Here’s how it can transform your record-keeping:

1. Centralised document storage
   • Securely store all essential records in one place. This includes scanned copies of the will, tax forms, valuations and final accounts, ensuring you have instant access when needed.
2. Efficient organisation
   • With Auderli it’s easy to organise records into relevant categories. Whether it’s receipts for expenses, asset valuations, or beneficiary confirmations, you can quickly find what you need.
3. Long-term security
   • Robust data security, protecting your documents from loss or damage over the required 20-year period. You can rest assured that your records are backed up and accessible if HMRC requests them in the future.
4. Collaboration tools
   • If co-executors or solicitors need access to specific documents, Auderli allows you to share files securely, reducing the need for physical document handling and keeping communication streamlined.
5. Proof of compliance
   • By using Auderli to keep comprehensive records, you demonstrate to HMRC and beneficiaries that the estate was managed transparently and lawfully, reducing potential disputes or misunderstandings.

Conclusion

Proper record-keeping is crucial for probate, especially with the UK’s 20-year retention rule. Auderli simplifies this task, ensuring executors stay organised, compliant and prepared for any future HMRC requests or beneficiary questions.