Probate Services- Applying for Grant of Probate, collecting and distributing assets

 

The Service

 

Applying for Grant of Probate, collecting and distributing assets.

As part of this service we will:

·        Provide you with a dedicated and experienced probate solicitor to work on your matter

·        Identify the legally appointed executors or administrators and beneficiaries

·        Accurately identify the type of probate application that you will require

·        Arrange for posting on the Gazette

·        Arrange for posting in the local newspaper

·        Obtain the relevant documents required to make the application

·        Complete the Probate Application and the relevant HMRC Forms

·        Draft a legal statement for you to swear/sign

·        Make the application to the Probate Court on your behalf

·        Obtain the Probate and securely send two copies to you

·        Collect and distribute all assets in the estate

Average timescales

On average, simple Estates are dealt with within 3-4 months. Typically, obtaining the grant of probate takes 3-4 weeks.

Collecting assets then follows, which can take between 8-10 weeks. Once this has been done, we can distribute the assets, which normally takes 6-8 weeks.

 

What is the Fixed fee

A fixed fee of £1,200 plus VAT if no tax is payable and £2,000 on estates above £1,000,000 and below £2,000,000 were no tax is payable.  If Inheritance Tax is payable we will charge on a time spent basis of an hourly rate of £295 plus VAT.

AND

You should note that for all new clients of the firm, we will conduct an electronic ID search for Anti Money Laundering compliance. The administrative fees for arranging these checks is £20 plus VAT.

Information on Fixed Fee

If any of the assumptions set out below are not met, this may affect the overall fee/ costs for the service.

[Add in only if a range given above rather than fixed fee]

Your fee will reflect the time spent on the service, so for example, if there is one beneficiary and no property, costs will be at the lower range of the fee range, however, if there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.

Likely disbursements (these are costs related to your matter that are payable to third parties. We handle the payment of the disbursement on your behalf to ensure a smoother process)

Probate Application Fee £155

Bankruptcy- only land charges Department searches (per beneficiary)

Posting in the London Gazette £250

(for protection against unexpected claims from unknown creditors)

Post in a local newspaper- approximately £175

(this also helps to protect against unexpected claims)

Assumptions made in relation to fee estimate

The Fixed Fee assumes:

·        there is a valid will

·        there is no more than one property

·        there are no more than x bank or building society accounts

·        there are no other intangible assets

·        there are x to x beneficiaries

·        there are no disputes between the beneficiaries on the division of assets. If disputes arise this is likely to lead to an increase in costs

·         There is no inheritance tax payable and the executors do not need to submit a full account to HMRC

·        There are no claims made against the estate

Potential Additional Costs

If there is no will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with.

Additional costs will also apply if you wish for us to deal with the sale or transfer of any property in the estate.

We always provide our clients with a fee estimate at the start of each new matter, therefore if you would like a bespoke estimate for your particular matter/ case please contact us to discuss.

If your case does have unexpected complications, we will always inform you, including any additional fees that may apply, so that you can make an informed decision as to how to proceed.