Probate



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.

This includes:

  • Registering the death
  • Arranging the funeral
  • Locating the will (if there is one)
  • Notifying all of the relevant people and organisations of the death, e.g. DWP, banks
  • Ascertaining the value of the deceased’s estate, taking into account all of their assets and liabilities.
  • Where necessary, arranging for certain assets to be valued.
  • Distributing any specific gifts in the will, e.g. jewellery, to the beneficiaries
  • Where required, completing an Inheritance Tax return and paying any Inheritance Tax which may be due
  • Where required, applying for and obtaining a Grant of Probate (if there is a will) or Letters of Administration (where there is no will)
  • Arranging for the assets to be sold and for the funds to be collected
  • Paying any debts of the deceased, including the funeral
  • Preparing a set of final accounts showing all payments into and out of the estate
  • Distributing the money to the beneficiaries in accordance with the will or in line with the requirements laid down by law, where there is no will

For most people, this is an upsetting time and you may not feel that you are able to take these practical steps.

How we can help you

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 will arrange an initial appointment to meet you and discuss your requirements.

We are aware that some people like to deal with certain elements of the administration themselves and we are happy for you to be involved as little or as much as like.

Timescales

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 administrate the estate thereafter depends on the size and complexity of the estate. In some cases, estates can take years to be finalised.

Stages of the process

  • 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 probate application you will require
  • Obtain the relevant documentation to make the application
  • Complete the probate 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 oath for you to swear/statement of truth to be signed
  • 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

Fees and Disbursements

Disbursements are costs related to your matter that are payable to third parties such as Probate application fee (This is currently £155.00 plus £1.50 per copy you require). The exact cost will depend on the individual circumstances of the matter.

Grant only

Our costs for this is £750.00 plus VAT. The disbursements for this are £155.00 to obtain the grant of probate and an additional £1.50 per copy required.  There may also be a swear fee when getting the oath sworn which is payable to another solicitor, this is approximately £5.00 (where there is no will) and £7.00 (where there is a will) per executor.

Administration of the estate

Our costs for this start at £1,500.00 – £2,000.00 plus VAT for simple estates, £2,500.00 – £3,500.00 plus VAT for medium complexity estates and £3,500.00 – £6,000.00 plus VAT for high complexity estates. The disbursements for this are £155.00 to obtain the grant of probate and an additional £1.50 per copy required.  There may also be a swear fee (per executor) when you get the legal oath sworn which is payable to another solicitor. Inheritance tax – please note that here is a tax on the estate of someone who is deceased. Inheritance Tax is charged at 40%. It is charged on the net value of the estate above the threshold of £325,000.00. Please consult the .gov website for further information: https://www.gov.uk/inheritance-tax

 

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 estate

 

Testimonials

Mrs E

I feel that you went out of your way to help me and this made the process so much easier. Thank you.

Mr W

All business carried out very efficiently

Mrs K

I have no hesitation in recommending Terrells to anyone needing any form of legal advice and to thank you once again for all of your help. Long may you continue!

Mrs E

I dealt with a very professional young lady, who presented herself well, was understandable and polite. What more can anyone ask for?

Mrs K

The service you gave was excellent, helpful and informative

Mr and Mrs H

There were plenty of opportunities to ask questions and we felt we received excellent advice and support”

Get in touch

01733 896789

enquiries@terrells.co.uk

61 Lincoln Rd, Peterborough PE1 SE