Probate

PROBATE AND ADMINISTRATION OF ESTATES

When a loved one dies it is very important to know that the right advice and support is available.  We approach the administration of Estates with sensitivity and an acknowledgement that this is a very difficult time for our clients.

We aim to ensure that you fully understand what is happening at all stages of the process and view regular communication as crucial.

We are able to deal with :

Administration of Estates

Intestate Estates

Probate Applications

Post Death Variations

Probate Property Sales

Hourly rate of £250 plus VAT . We anticipate that it can take between 10 – 20 hours. Total ‘time’ costs can range from £2,500 – £5,000 plus VAT or more in large estates.

In line with the Law Society recommendations, we are also entitled to charge 0.5%+VAT (@20%) of the main residence and 1%+VAT (@20%) of gross cash assets. If we are acting as Executors, then we are entitled to charge 0.75%+VAT (@20%) of the main residence and 1.5%+VAT (@20%) of gross cash assets.

The above does not include fees for Selling or transferring and property – for which a separate quote can be provided.

Every matter is different, and it is impossible to provide an accurate estimate of the timescale to complete the administration of an Estate.  It will depend upon many factors such as whether there is a Will, the number of beneficiaries, the nature and number of different assets in the Estate and whether Inheritance Tax is payable.  We will keep you updated at each stage of the matter and will provide you with updates of the work undertaken and work which remains to be completed with estimates of timescale for this at each stage.

In addition, the likely disbursements are:

  • Probate application fee of £273 plus £1.50p per sealed copy Grant of Probate – NO VAT
  • Gazette and the Local Newspaper Statutory Notice which protects against unexpected claims from unknown creditors – approximately £250 – £300 – including VAT
  • If there are stocks & shares to be sold, the stockbrokers will charge a fee.
  • Income Tax, Capital Gains Tax and possibly other taxes plus accountancy fees may also be payable.

  • As part of a standard Probate and estate administration we can help with the following:

    • Explain the terms of the Will and help identify the beneficiaries. If no Will has been left we can advise you on the Intestacy Rules,
    • Advise and deal with issues such as lifetime gifts, nil-rate bands and the distribution of the estate,
    • Identify all assets including bank accounts, insurance policies, pensions, properties, business assets etc,
    • Deal with any liabilities such as credit cards, bills or overpaid benefits,
    • Liaise with asset holders to obtain valuations as at the time of death,
    • Carry out an Inheritance Tax calculation applying all exemptions and reliefs,
    • Arrange for payment of any Inheritance Tax or discuss payment options with you,
    • Prepare the Probate application including a full Inheritance Tax return (if applicable),
    • Submit the application to the Probate Registry,
    • Upon receipt of the Grant of Probate, attend to any letters of authority and closure forms to encash the assets,
    • Deal with the sale or transfer of any property,
    • Finalise the tax position of the estate,
    • Distribute the estate to the beneficiaries and finalise the estate accounts.

Work will be undertaken by Kathryn Goddard.  Kathryn was admitted as a Solicitor in June 2000

Enclosure – A summary of the process for dealing with estatesDownload