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Pricing Clarity for Probate

We understand that losing a loved one can be a difficult time.

Our professional Probate team are on hand to help you administer an estate as soon as you need us.

We can assist you on a Grant only basis which is a fixed fee or deal with the full administration of the estate including assisting with funeral arrangements, notifying banks and other relevant parties, as well as calculating Inheritance Tax (if applicable), applying for the Grant of Probate (or Letters of Administration), preparing estate accounts and distributing the estate.

We aim to make every stage of the process as straightforward as possible, communicate clearly with you and reassure you at every stage.

Where an estate is uncontested and all assets are in the UK then the following pricing models apply.

 

1 Acting on a Grant Only basis (Gross value of non-taxable estate under £325,000)

We can act for Executors (where there is a Will) or Administrators (where there is no Will) and assist you to apply for the Grant of Representation to the estate.

What does the service include?

  • Initial meeting with you
  • You providing us with the valuation of all assets and liabilities in the deceased estate,
  • Preparation of the necessary Grant paperwork
  • Applying to the Court to obtain the Grant.

How much does this service cost?

We set our own legal costs at a fixed fee.

Legal costs: £720 (inclusive of VAT)

Disbursements are payable in addition to this.

Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of disbursements on your behalf to ensure a smoother process.

Disbursements:

  • Probate Court fee: £155
  • Sealed copy fee: £1.50 each
  • UK Bankruptcy Search: £2.00 (per deceased/Executor/Administrator)
  • Swear fee: £5.00 / £7.00 per person

Key stages and timescales

On average, estates that fall within this range are dealt with within 8-10 weeks.

Stage 1 – (2 weeks)
  • Conflict of interest check
  • Initial meeting with Executors/Administrators
  • Anti-Money Laundering Identity checks
  • Details provided by Executors/Administrators regarding Assets and Liabilities of estate
  • Advice provided by lawyer and confirmed in writing regarding next steps.
Stage 2 – (4-8 weeks)
  • Preparation of the draft Oath, IHT 205 and schedule of assets and liabilities
  • Provide this above to the Executors/Administrators for approval and swearing
  • Thereafter necessary Grant paperwork sent to Probate Registry to issue the Grant of Representation

2 Full administration of the Estate ( Non Taxable Estate)

We can assist with the full administration of the estate where no tax is payable.

What does the service include?

We would deal with the full process on the Executors/Administrators behalf including the distribution of the estate.

How much does the service cost?

The exact cost will depend on the individual circumstances of the matter, for example estates involving one beneficiary and no property are likely to be at the lower end of the range. Those involving multiple beneficiaries multiple financial assets and property are likely to be at the higher end of the range.

Costs

Estimated costs from £3,000 – £6000 plus VAT and disbursements

Disbursements

Disbursements are costs related to your matter payable to third parties. These are likely to include but are not limited to:-

  • Probate Court fee: £155
  •  Sealed copy fee: £1.50 each
  • Swearing fee (Per Executor/Administrator): £5.00/£7.00)
  • UK Bankruptcy search (Executor, deceased and beneficiary): £2.00 each
  • Statutory Advertisements: £250 – £270
  • Landmark Search: £165
  • Estate agents valuation of property: £60 – £100 each
  • Accountants fees (If income tax/capital gains tax issue):   TBC depending on complexity of estate

Please note that any conveyancing fees in relation to property that falls within the estate is dealt with separately. The fees are dependent upon whether the Property is registered or unregistered, freehold or leasehold property. Please refer to our cost estimate page for conveyancing matters

Please note. The above quote is for estates where there is:
  • A valid will or intestacy where all beneficiaries are identified and no genealogists involvement)
  • There is no more than one property
  • The estate is not contested and all assets are based in the UK
  • There is no Inheritance tax to pay and no requirement to submit a full account to HMRC
  • There are no disputes between beneficiaries regarding the division of assets. If disputes arise this is likely to lead to an increase in costs.

Key stages and timescales

We would anticipate that the process would take between 9-12 months

Stage 1 – 6-12 weeks
  • Conflict of interest check
  • Initial meeting with Executors/Administrators
  • Anti-Money Laundering Identity checks
  • Details provided of all known assets and liabilities taken for lawyer to contact for date of death valuations
  • Contact all asset and liability holders and relevant bodies to include HMRC/DWP and await responses
  • Arrange Estate Agents valuation(s) for Property ( as applicable)
  • Place relevant advertisements to establish unclaimed assets (Landmark Search)
Stage 2 – 4-6 weeks
  • Prepare relevant Oath, IHT 205
  • Prepare schedule of assets and liabilities to provide to Executors/Administrators.
  • Once approved by Executors/Administrators appointment made to swear necessary paperwork to apply for Grant
Stage 3 – 4 – 6 weeks
  • Once documentation approved, appointment scheduled to attend Solicitors and swear necessary paperwork.
  • Thereafter relevant Grant documentation sent to Probate registry and await issue of Grant of Representation.
Stage 4 – 4 – 8 weeks
  • Once Grant received, lawyer sends to all relevant institutions to collect in assets of the estate ( or deal with transfer if applicable.)
  • Six month period for claims to be made under The Inheritance Provision for Family and Dependents Act 1975 begins from date Grant issued ( IPFDA Claims). Those persons who feel they have a claim against the estate may lodge a claim.
  • Property placed on open market ( if applicable)
  • Statutory Advertisements to Creditors placed – 2 month waiting period to expire.
  • Beneficiaries to the Estate under the Will/Intestacy contacted and identification/certificates requested
Stage 5 – 6-10 weeks
  • Once sufficient assets in the estate are realised, Lawyers first interim bill raised and proceeds paid (usually) from estate
  • Draft Estate accounts prepared for approval of Executors/ Administrators
  • Liabilities to the estate paid
Stage 6 – 2 – 6 weeks
  • Income tax position of the estate finalised (liaising with HMRC/Accountant as applicable)
  • Ensure the 6 month IPFDA Claim period passed and no notifications, provided property sold (or transferred as applicable) and all liabilities and utility bills paid – Lawyer produces the final Estate Accounts for Executors/Administrators approval.
  • Final Lawyers invoice produced
  • Once Estate Accounts approved and sufficient documentation from all beneficiaries, distribution made in accordance with terms of the Will or intestacy rules.
Please note that the above timescales are dependent upon third parties claims under IPFDA.

 

3 Full administration of the Estate (taxable estate)

We can assist with the full administration of the estate where tax is payable.

What does the service include?

We are able to deal with the full process on the Executors/Administrators behalf including liaising with HMRC regarding the payment of Inheritance Tax.

How much does the service cost?

The exact cost will depend on the individual circumstances of the matter, for example estates involving one beneficiary and no property are likely to be at the lower end of the range. Those involving multiple beneficiaries multiple financial assets and properties are likely to be at the higher end of the range.

Costs

Estimated costs from £6,000 – £10,000 plus VAT and disbursements

Disbursements

Disbursements are costs related to your matter payable to third parties. These are likely to include but are not limited to:-

  • Probate Court Fee: £155
  • Sealed copy fee: £1.50 each
  • Swear fee: (Per Executor/Administrator) £5.00/£7.00)
  • UK Bankruptcy search: (Executor, deceased and beneficiary) £2.00 each
  • Statutory Advertisements: £250 – £270
  • Landmark Search: £165
  • Estate agents valuation of property: £60 – £100 each
  • Accountants fees:(If income tax/capital gains tax issue) TBC depending on complexity of estate
  • RICS Property valuation: (each property) £300-£500

Please note that any conveyancing fees in relation to property that falls within the estate is dealt with separately. The fees are dependent upon whether the Property is registered or unregistered, freehold or leasehold property. Please refer to our cost estimate page for conveyancing matters

Please note: The above quote is for estates where there is:
  • A valid will (or intestacy where all beneficiaries are identified and no genealogists involvement)
  • There is no more than three properties
  • The estate is not contested and all assets are based in the UK
  • There is Inheritance tax to pay and a requirement to submit a full account to HMRC
  • There are no disputes between beneficiaries regarding the division of assets. If disputes arise this is likely to lead to an increase in costs.
  • All assets are located in the UK

Key stages and timescales

We would anticipate that the process would take between 12-18 months.

Stage 1 – 6-12 weeks
  • Conflict of interest check
  • Initial meeting with Executors/Administrators
  • Anti-Money Laundering Identity checks
  • Details provided of all known assets and liabilities taken for lawyer to contact for date of death valuations
  • Contact all asset and liability holders and relevant bodies to include HMRC/DWP and await responses
  • Arrange RICS Professional Valuation of the property (properties)
  • Place relevant advertisements to establish unclaimed assets (Landmark Search)
Stage 2 – 4 – 6 weeks
  • Subject to adequate replies above, prepare relevant Oath, IHT 400 (Full Inheritance Tax account to HMRC)
  • Prepare schedule of assets and liabilities to provide to Executors/Administrators.
  • Once approved appointment made to swear necessary paperwork to apply for Grant
Stage 3 – 4 – 6 weeks
  • Once Probate documentation approved, appointment scheduled to attend Solicitors and swear necessary paperwork.
  • Tax documentation sent to HMRC.
  • Liaise with financial institutions (Or Executors/Administrators as applicable) to arrange payment of first instalment of Inheritance Tax.
Stage 4 – 4 – 6 weeks
  • Once HMRC have issued IHT421 receipt, sent to Probate registry together with Oath (and Will if applicable) to issue Grant of Representation to the Estate.
Stage 5 – 4 – 8 weeks
  • Once Grant received, lawyer sends to all relevant institutions to collect in assets of the estate ( or deal with transfer if applicable)
  • Six month period for claims to be made under The Inheritance Provision for Family and Dependents Act 1975 begins from date Grant issued ( IPFDA Claims). Those persons who feel they have a claim against the estate may lodge a claim.
  • Property placed on open market ( if applicable)
  • Statutory Advertisements to Creditors placed – 2 month waiting period to expire.
  • Beneficiaries to the Estate under the Will/Intestacy contacted and identification/certificates requested
Stage 6 – 6-10 weeks
  • Once sufficient assets in the estate are realised, Lawyers first interim bill raised and proceeds paid (usually) from estate
  • Draft Estate accounts prepared for approval of Executors/ Administrators
  • Liabilities to the estate paid ( including next instalments of IHT if applicable)
Stage 6 – 6-12 weeks (dependent upon assets and queries raised by HMRC)
  • Income tax position of the estate finalised (liaising with HMRC/Accountant as applicable)
  • Ensure the 6 month IPFDA Claim period passed and no notifications, Provided property sold ( or transferred as applicable) and all liabilities and utility bills paid – Lawyer produces the final Estate Accounts for Executors/Administrators approval.
  • Final Lawyers invoice produced
Stage 7 – 4- 8 weeks (dependent upon third parties claims)
  • Once Estate Accounts approved and sufficient documentation from all beneficiaries, distribution made in accordance with terms of the Will or intestacy rules.

For more information on Watkins & Gunn Probate services & to meet our team of expert lawyers, click here.

 

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Contact us today to see how we can help you.

COVID-19 

We are very much open for business during the “Firebreak” in Wales.

We fully support efforts to control the spread of the pandemic and cannot offer face-to-face appointments at this time. We will however continue to provide our services remotely between 8.30am and 5pm.

Go to our CoVid 19 page for more information.

Stay safe and well.