Probate describes the legal and financial necessities of dealing with assets such as property, cash and other possessions of a person who has passed away.
The Probate Registry currently advises it will take 16 weeks to receive the Grant, to administer the estate thereafter depend on the size and complexity of the estate.
Specialist Probate Solicitors
When somebody dies, it falls to their executors (if they have made a Will) or certain family members (where there is no Will) to organise their affairs.
Whether you are an executor or a close family member, if there is no Will, we can assist you with all areas of administering the estate of a person who has died.
We are aware that some people like to deal with certain elements of the process themselves and we are happy for you to be involved as little or as much as you wish, in what is obviously a very difficult time.
At Terrells LLP, we can help you with all facets of Probate and Wills, by offering you support in the following areas.
Registering the death
Arranging the funeral
Locating the Will
Notifying all of the relevant people and organisations of the death
Ascertaining the value of the deceased’s estate
Arranging for assets to be valued
Distributing any specific gifts in the Will
Completing an Inheritance Tax return & paying Inheritance Tax
Applying for & obtaining a Grant of Probate or Letters of Administration
Arranging for the assets to be sold & funds to be collected
Paying any debts of the deceased, including the funeral cost
Preparing final accounts for the estate
Distributing funds to the beneficiaries
Why Choose Us?
At Terrells LLP, our years of experience specialising in family law means that we are able to advise on all aspects of Wills, Administration and Probate, in both a timely and efficient way.
We are fully regulated by the Solicitors Regulation Authority and Members of Resolution, the UK Family Law Association.
This depends on whether you instruct us on a Grant only basis (obtaining the Grant of Probate only on your behalf) or full administration of the estate.
On average obtaining Grant of Probate from the date the application is made takes between 8-12 weeks, to administer the estate thereafter depends on the size and complexity of the estate. In some cases, estates can take years to be finalised.
- Identify the appointed executors or administrators and beneficiaries at an initial meeting and look through the contents of the Will/intestacy provisions
- Identify all assets and liabilities of the estate
- Accurately identify the type of Grant application you may require
- Obtain the relevant documentation to make the application
- Complete the Grant application and the relevant HMRC forms and calculate inheritance tax (IHT) to pay, if any. Send the same in draft for approval
- Draft a legal statement
- Make payment of any IHT and submit IHT forms to HMRC
- Make the application to the Probate Registry on your behalf
- Obtain the Grant of Probate/Letters of Administration
- Place Trustee Act notices in the London Gazette and/or local newspaper should you wish to do so
- Collect in and distribute all assets in the estate
Our costs are dependent on the work involved, but a typical quote for simple estates would start at £2,500-£3,000 plus VAT, £4,000-£6,000 plus VAT for medium complexity estates, and from £6,000 plus VAT for high complexity estates.
The disbursements for this are £273 to obtain the Grant and an additional £1.50 per copy required.
These quotes are for estates where:
- There is a valid Will
- There is no more than one property
- There are no more than four bank or building society accounts
- There are no other intangible assets
- There are no more than six beneficiaries
- There are no disputes between beneficiaries on the division of assets. If disputes do arise then this will 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 against the estate
Fees do not include:
Additional work required due to unforeseen complexity of the estate, claims made against the estate etc.
Additional disbursements may include:
- Bankruptcy-only Charges Department search
- Notice in the London Gazette – protects against unexpected claims from unknown creditors
- Notice in a local newspaper – protects against unexpected claims from unknown creditors
Additional costs may include
- If there is no Will
- If the estate consists of any shareholding (stocks and bonds)
- Dealing with the sale or transfer of any property in the estat
Reviews From Our Clients
What more can anyone ask for?