Wills
Nobody likes to think about making a will. It seems too complicated and we do not like to think about our own death or the death of a loved one. However, the importance of making a will cannot be over emphasised, no matter how large or small your estate. The aim of our wills, probate and trusts team is to ensure your wishes are carried out after your death.
We have specialist experience in dealing with the administration of the estates of the deceased, whether or not they have made a will.
Probate
Our team provides a sensitive and professional approach to probate matters in stressful personal times. The death of a loved one is always an extremely difficult time. What to do? Who to contact? How to wind up their affairs? Dealing with the administration of an estate can be a hugely daunting and stressful experience.
Applying for the grant, collecting and distributing the assets.
We anticipate this will take between 5 and 15 hours work at £185.00 per hour. Total costs estimated at £2775 (+VAT) at 15 hours.
The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.
We will handle the full process for you.
This quote is for estates where:
There is a valid will
There is no more than one property
There is no more than 1 bank or building society accounts
There are no other intangible assets
There is 1 beneficiaries
There are no disputes between beneficiaries on 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
The quote is between £1,000 and £2,000 plus VAT.
Disbursements included in this fee:
Probate application fee of £155
£7 Swearing of the oath (per executor)
Bankruptcy-only Land Charges Department searches (£2 per beneficiary)
£341.40 Post in The London Gazette and a Local Newspaper – Protects against unexpected claims from unknown creditors.
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
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. We can give you a more accurate quote once we have more information.
If any additional copies of the grant are required, they will cost £0.50 (1 per asset usually).
Dealing with the sale or transfer of any property in the estate is not included.
How long will this take?
The application for Grant can take up to 6 to 8 weeks to obtain.
Probate
We can help you through this difficult process by obtaining the Grant of Probate on your behalf. We will also undertake the collecting and distributing of assets.
How much does this service cost?
TOTAL: fixed fee of £1,000 (plus VAT).
This includes: obtaining the grant, collecting assets and distributing them.
Breakdown of costs:
Legal fees £1,000
VAT on legal fees £200
Disbursements in total): (£479.40 (1 executor, 1 beneficiary)
Probate court fee of £155
Office Copy Grant fee of £0.50 per Office Copy. Two Office Copies are typically required.
£7 Swearing of the oath (per executor).
Bankruptcy-only Land Charges Department searches (£2 per beneficiary).
£314.40 Post in The London Gazette and Yorkshire Post – Protects against unexpected claims from unknown creditors.
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
As part of our fixed fee we will:
Provide you with a dedicated and experienced probate private client manager to work on your matter
Identify the legally appointed executors or administrators and beneficiaries
Accurately identify the type of Probate application you will require
Obtain the relevant documents required to make the application
Complete the Probate Application and the relevant HMRC forms
Draft a legal oath for you to swear
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
Make an application for Grant, which can take up to 6 to 8 weeks to obtain
Trusts
Whether to operate during your life or after your death, trusts can be a tax efficient means of passing on your wealth, however large or small.
We also have considerable experience in preparing powers of attorney for clients who wish to appoint third parties to deal with their financial affairs and also in advising on the best way to deal with the financial matters of individuals who are no longer have the capacity or mentally capable of dealing with such affairs on their own.
Power of Attorneys
The deterioration in the mental and physical health of a relative or friend can be very distressing. However, time is absolutely critical in terms of putting in place a power of attorney before a family member loses too much mental capacity and is unable to appoint anyone to hold a power of attorney or deal with his/her own day-to-day affairs. Our private client managers can help you by putting in place such powers of attorney to reduce that element of distress.
Financial Planning for the Elderly
Having worked hard for your assets most of your life, it is certainly wise to consider protecting them. Our expert team can advise you how best to do this in order to mitigate risks such as the affordability of residential care costs and also issues surrounding inheritance tax.
Additional Services
In addition to assistance with wills and administration of estates, we also provide services related to properties.
Contact our probate private client managers today, in Shipley, West Yorkshire, for services including power of attorney transfers.
