The administrators become the legal owners of the
deceased’s estate, but not for their own benefit. They are
required to sell the assets and meet all debts of the estate. They
may postpone the sale if they think this is advantageous.
They pay for the funeral, and meet any debts (including
inheritance tax), out of the proceeds of sale. Then they calculate
the amount of ‘residue’. This latter process is known
as the ‘ascertainment of residue’. The rules of
intestacy provide for distributing the residue. They are primarily
contained in the Administration of Estates Act 1925. Details of the
rules of intestacy are at TSEM7800 onwards
